Replies to post #74249 on Hartcourt Companies (fka HRCT)

[lucky5ive]

More from the Govt. website..From August of 2006 article..


"There are 330,000 job vacancies for skilled workers, such as millers and welders, each year in Beijing, but there is a dearth of qualified people. The situation is the same all over the country.

While university graduates have been scrambling for jobs in recent years, the employment rate of secondary vocational school graduates remains at a high level.

From 2001 to 2005, the employment rate has stayed at 95 percent on average, and the average salary of graduates of secondary vocational schools is higher than college graduates this year in the cities of Harbin, Hangzhou and Chengdu.

The central government will invest 10 billion yuan in the infrastructure of vocational education over the next five years and local governments will also spend more than 20 billion yuan in the initiative, according to Wu."

[Investorman]

Chinese consumer numbers

In a front page article of the China Daily today, it looks at the income of Chinese people buying luxury goods, such as digital electronics devices, fancy watches, etc. The column article goes on to break up surveyed consumers into 3 groups - first-world, second-world and third-world.

In their survey of 40 million people across 10 cities, the breakdown was roughly 15%, 80% and 5% respectively. The average annual income is 218,000RMB (US$27,250) for first-world spenders, 19,680RMB (US$2,460) for second-world spenders and the third-world group are those who are poverty stricken. Compare that with numbers for the USA, where the average income fell in 2001-2004 but is still at least twice what the top group in China earn.

So when you're preparing that business plan for expansion into China and thinking about those 1.3 billion people, remember that unless you're selling food, currently your target market is less than 200 million.