“Higher tier cities are a magnet in attracting tax revenues. But lower tier cities are taking the burden of spending on healthcare, social security, as well as education. That's a structural issue that the government is facing right now.”
Where people live within China - and why - is fundamental to understanding the country’s changing demographics. That, in turn, has important implications for the Chinese economy, consumption trends, and where investors should be looking.
In this episode Marty Dropkin, Head of Equities, Asia Pacific, takes you across China through the lens of Fidelity International’s Asia Economist, Peiqian Liu, and Jarlon Tsang, Managing Partner and Head of China at the venture capital firm Eight Roads, Fidelity’s sister company.
What role do migrants play in the past, present, and future development of the Chinese economy? Which Chinese provinces and cities could be home to the next unicorn? What do emerging migration patterns mean for China's cities and their businesses? And what does all of it mean for property markets?
With additional contributions from Portfolio Manager Hyomi Jie and Shanghai-based analysts Eric Zhu and Fiona Shou. Emded:
