China’s City CHAMPS

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The EIU has recently released (and has kindly shared with us) some research that caught our attention: “CHAMPS China’s fastest-growing cities”.

A new acronym, yes (Chongqing, Hefei, Anshan, Maanshan, Pingdingshan and Shenyang), but well worth a read – and note that the report goes beyond those six cities, and looks at the top 20 fastest growing ones.

Extracts from the Executive Summary follow:

“• The CHAMPS represent the top 20 fastest-growing large cities in China.

• The CHAMPS tend to be located in China’s central provinces with large rural populations, which will fuel urbanisation.

• The rise of the CHAMPS reflects China’s transition to a consumption-driven economy, with growth moving away from the export-led eastern seaboard.

• Urbanisation will enable China to continue to post healthy growth for at least 20 years despite an ageing population. China’s urban population will not start to decline until 2037, when it peaks at 880m. The CHAMPS represent considerable growth potential.

• Over the next decade to 2020, the population of the top 20 emerging cities will grow by 27% to 85m, making central China a global hotspot for business opportunity. By contrast, the population of China’s richest 20 cities will only grow by 19% to 100m. The richest cities will still be important but they are already crowded markets.

• In 2009 average incomes in China’s richest 20 cities were 42% higher than in the top 20 emerging cities. By 2020 that gap will have fallen to 15%. Thus the best growth opportunities for products targeted at high-income earners will in most cases be in the inland cities.

• Market uptake of numerous types of consumer goods is still rapidly increasing in the CHAMPS, even though such consumer markets in wealthier cities are approaching saturation. Mobile phones, air conditioners and personal computers are expected to perform exceptionally well in the CHAMPS.”

For the full report go here to register.

This blogger has only been to 6 of the top 20 listed cities. A reminder, once again, of how fast China’s urban landscape is changing. Time for a trip?

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