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|China Profile 2008|
China's annual economic growth is estimated to reach 10.5 % in 2008.
China's economy is still going strong and even though both raw material prices and wage levels are rising, the Chinese manufacturers are showing no signs of slowing down their export quantities. In other words, the rise in input prices have meant a slight increase in manufacturing prices but have then been compensated by improved manufacturing efficiency.
As an example, our sanitary manufacturers have responded to the increase in input prices not by raising prices but by investing in Japanese high tech manufacturing equipment and Toyota management consultants to oversee and improve the current production lines.