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Steve Watson and his wife Barbara visiting the Great Wall of China in 1981
40 years of explosive growth
Sources: Capital Group, CEIC Data, IMF, The World Bank. *Data for number of private enterprises as of 1988 and 2018. RMB represent Chinese renminbi.
China’s manufacturing engine climbs the value chain
Source: Capital Group, based on reports from Euromonitor, SNE Research and company filings. Data is as of May 2021 and reflects approximate figures.
Urbanization is on the rise in China’s workforce and markets
Sources: Capital Group, The World Bank. Most recent population employment data is as of 2019.
Watson with members of Capital’s China group on a visit to Shanghai in 2015
Watson and a colleague visiting a steel plant in Tangshan in 2016
Swift growth has reshaped China’s market
Sources: Capital Group, MSCI, RIMES. Sector composition as of March 24, 2022. Top companies as of December 31, 2021. The telecom and utilities category includes telecommunications services sector prior to 2018, at which point it was reclassified as communication services and its composition was materially changed. The consumer and tech category includes consumer discretionary, consumer staples, information technology and communication services. The commodity-related category includes industrials, materials and energy. Color legend reflects sector classification as of the end of each respective year.
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