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A study published by the Social Science Academic Press and Beijing University of Technology and excerpted from China Daily in an article dated 19 July 2010, authored by Wang Wen, revealed:
  • The expanding ranks of the middle class in the capital city have grown to 5.4 million, some 40 percent of the city?s permanent residents.
  • The average income of a member of the middle class in Beijing is about 5,923 yuan per month. The total income of the average Beijing middle class family is 10,007 yuan per month.
  • Placing these statistics in perspective, the World Bank defined middle class in developing countries as those earning about 27,100 yuan or more per year. The average annual income of a member of the middle class in Beijing is 71,076 yuan.
  • The World Bank further reported that only six developing countries boasted a middle class comprising more than 40 per cent of their total population, while China?s middle class comprises only 23 percent of its populace.
 
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Benjamin Franklin is rarely amongst the names that appear on a list of China experts, but in his day the great American patriot was intrigued and knowledgeable about the Middle Kingdom. Franklin remarked: "Forewarned is fore-armed", and this remains a befitting admonition for the 21st century, as well, when cautious due diligence and and an awareness of history can help avoid costly mistakes and unnecessary missteps. Reading St. John University's Dr. Dave Wang's brilliant analysis of Benjamin Franklin's "Drawing Positive Elements from Chinese Civilization during the Formative Age of the United States" goes beyond its academic persuasiveness and reveals core beliefs shared by our two countries.

Fast forward nearly 250 years, and again we are seeking commonality between two countries that often seem a vast ocean apart. In working with Chinese management on a daily basis, not unlike Ambassador Franklin, GEP finds more similarities than differences in the goals and commitment of these Chinese partner companies. Yet, "forewarned is fore-armed" remains a tenet of the day. As the world spun into the 21st century, it became the Chinese who've swum to the top in many ways. Even Warren Buffet may shift his power center from an Omaha posse to a Peking cadre, as detailed in The Wall Street Journal in late July 2010. Lest the tide of events be recognized, jingoists will be swept out to sea. To follow the ebb and flow of many China-based public companies, ChinaBizFocus is amongst the most useful tools.

To that end, with a full-service, executive office at the Oriental Plaza in Beijing, GEP sources and screens private Chinese candidate companies, conducts pre-audit and pre-legal due diligence, acquires Regulation 106 and tax relief approvals, and assists the Chinese company in restyling operations by instituting Western standards, while meeting GAAP accounting principles and proper international legal structures. Graduates of the GEP program through 2009, nine Chinese companies have made the grade as US public entities, and all nine continue to actively trade and operate, with additional new partner companies in the GEP pipeline for a 2010 launch. As an impressive update, by mid-2010, five of these China-based, US public companies have elevated or are in the process of elevating to a senior exchange, such as the American Stock Exchange or NASDAQ.
 
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