CHAMPS: The Rise of Inland China
During 2007, a landmark change occurred in China: inland cities started to grow faster than the coastal cities. The global financial crisis further enhanced this trend when it struck China's coastal exporting centres, and economic data for Q3 2010 further solidified the picture: growth in eastern China reached 15.6%, while central China achieved 18.9%.
In a new report by the Economist Intelligence Unit (EIU) (check here for access) entitled CHAMPS: China's Fastest-growing Cities, the EIU identified the CHAMPS - China's fastest-growing cities who all have one thing in common: rapid increases in population, income and infrastructure development. The report lists China's 20 fastest-growing cities, all of which (with one exception: Xiamen) are located inland, with strong representation by Anhui (5 cities) and Henan (5 cities).
The business opportunities in these inland cities represent a whole new frontier, as their populations are expected to increase by nearly one-third and incomes will grow by more than threefold in the space of a decade. With a long period of strong growth lying ahead, businesses will need to plan for long-term growth opportunities and patterns of urbanisation and growth increasingly driven by the inland cities.
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