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Map: China’s Provinces Rival Countries in Population Size

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Map: China

Chart: China’s Provinces Rival Countries in Population Size

The very mention of China triggers both awe and anxiety in the mainstream media.

With the globe’s largest GDP (PPP) at $23.12 trillion, China is indisputably a close contender for the title of world’s largest economic superpower along with the United States.

But what makes this possible in the first place? The country’s economic clout arguably stems from its human capital: a 1.4 billion-strong population.

A Force to be Reckoned With

Each of China’s 33 distinct regions is home to a population size on par with entire countries:

Chinese ProvincePopulation (millions)Comparable CountriesPopulation (millions)
🇨🇳 Anhui62🇫🇷 France64.5
🇨🇳 Beijing21.7🇫🇮 Finland, 🇸🇪 Sweden, 🇳🇴 Norway20.7
🇨🇳 Chongqing30.5🇸🇦 Saudi Arabia31.7
🇨🇳 Fujian38.7🇦🇫 Afghanistan34.6
🇨🇳 Gansu26.1🇾🇪 Yemen29.1
🇨🇳 Guangdong110🇵🇭 Philippines103.2
🇨🇳 Guangxi48.4🇨🇴 Colombia48.7
🇨🇳 Guizhou35.5🇲🇦 Morocco34.5
🇨🇳 Hainan9.1🇦🇹 Austria8.7
🇨🇳 Hebei74.7🇹🇭 Thailand69
🇨🇳 Heilongjiang38🇮🇶 Iraq37.9
🇨🇳 Henan95.3🇪🇬 Egypt90.2
🇭🇰 Hong Kong7.3🇯🇲 Jamaica, 🇨🇷 Costa Rica7.7
🇨🇳 Hubei58.8🇰🇷 South Korea51.2
🇨🇳 Hunan68.2🇬🇧 United Kingdom65.6
🇨🇳 Jiangsu80🇹🇷 Turkey79.8
🇨🇳 Jiangxi45.9🇦🇷 Argentina43.6
🇨🇳 Jilin27.3🇬🇭 Ghana27.6
🇨🇳 Liaoning43.8🇪🇸 Spain46.4
🇲🇴 Macau0.61🇲🇪 Montenegro0.62
🇨🇳 Inner Mongolia25.2🇩🇰 Denmark, 🇱🇺 Luxembourg, 🇳🇱 Netherlands23.3
🇨🇳 Ningxia6.7🇸🇻 El Salvador6.3
🇨🇳 Qinghai5.9🇸🇬 Singapore5.6
🇨🇳 Shaanxi38.1🇵🇱 Poland38
🇨🇳 Shandong99.5🇻🇳 Vietnam92.7
🇨🇳 Shanghai24.2🇷🇴 Romania, 🇭🇷 Croatia24.5
🇨🇳 Shanxi36.8🇨🇦 Canada36.2
🇨🇳 Sichuan82.6🇩🇪 Germany82.3
🇨🇳 Tianjin15.6🇸🇰 Slovakia, 🇨🇿 Czech Republic16
🇨🇳 Xinjiang24🇦🇺 Australia24.4
🇨🇳 Xizang (Tibet)3.3🇺🇾 Uruguay3.5
🇨🇳 Yunnan47.7🇰🇪 Kenya45.4
🇨🇳 Zhejiang55.9🇿🇦 South Africa55.6

To drill down further, China is composed of:

  • 4 municipalities
    Beijing, Chongqing, Shanghai, and Tianjin
  • 5 autonomous regions
    Guangxi, Inner Mongolia, Ningxia, Tibet, and Xinjiang
  • 2 special administrative regions (SAR)
    Hong Kong and Macau

The remaining 22 are the officially-labeled provinces of China.

It’s worth noting that Taiwan is also claimed as one of China’s provinces, even though there is some ambiguity and disagreement around Taiwan’s actual political status.

Nevertheless, it’s clear that every region, and especially the massive cities with them, are substantial contributors to the country’s growth and success.

A New Demographic Era Ahead

Going forward, China’s population may cease to be a strength that contributes to rapid economic growth.

In the wake of the infamous one child policy, the country could soon by dealing with the demographic time bomb of a rapidly aging population.

China population pyramid

Source: Population Pyramid

By 2050, almost four in ten people in China will be above the age of 60, which will create an added strain on the already declining working-age population.

The good news for China?

The country is making moves to combat the challenges ahead, including ambitious plans to build a $1 trillion artificial intelligence industry by 2030 – an attempt to close the impending labor gap.

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Markets

Mapped: The Growth in House Prices by Country

Global house prices were resilient in 2022, rising 6%. We compare nominal and real price growth by country as interest rates surged.

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The Growth in House Prices by Country

Mapped: The Growth in House Prices by Country

This was originally posted on Advisor Channel. Sign up to the free mailing list to get beautiful visualizations on financial markets that help advisors and their clients.

Global housing prices rose an average of 6% annually, between Q4 2021 and Q4 2022.

In real terms that take inflation into account, prices actually fell 2% for the first decline in 12 years. Despite a surge in interest rates and mortgage costs, housing markets were noticeably stable. Real prices remain 7% above pre-pandemic levels.

In this graphic, we show the change in residential property prices with data from the Bank for International Settlements (BIS).

The Growth in House Prices, Ranked

The following dataset from the BIS covers nominal and real house price growth across 58 countries and regions as of the fourth quarter of 2022:

Price Growth
Rank
Country /
Region
Nominal Year-over-Year
Change (%)
Real Year-over-Year
Change (%)
1🇹🇷 Türkiye167.951.0
2🇷🇸 Serbia23.17.0
3🇷🇺 Russia23.19.7
4🇲🇰 North Macedonia20.61.0
5🇮🇸 Iceland20.39.9
6🇭🇷 Croatia17.33.6
7🇪🇪 Estonia16.9-3.0
8🇮🇱 Israel16.811.0
9🇭🇺 Hungary16.5-5.1
10🇱🇹 Lithuania16.0-5.5
11🇸🇮 Slovenia15.44.2
12🇧🇬 Bulgaria13.4-3.2
13🇬🇷 Greece12.23.7
14🇵🇹 Portugal11.31.3
15🇬🇧 United Kingdom10.0-0.7
16🇸🇰 Slovak Republic9.7-4.8
17
🇦🇪 United Arab Emirates
9.62.9
18🇵🇱 Poland9.3-6.9
19🇱🇻 Latvia9.1-10.2
20🇸🇬 Singapore8.61.9
21🇮🇪 Ireland8.6-0.2
22🇨🇱 Chile8.2-3.0
23🇯🇵 Japan7.93.9
24🇲🇽 Mexico7.9-0.1
25🇵🇭 Philippines7.7-0.2
26🇺🇸 United States7.10.0
27🇨🇿 Czechia6.9-7.6
28🇷🇴 Romania6.7-7.5
29🇲🇹 Malta6.3-0.7
30🇨🇾 Cyprus6.3-2.9
31🇨🇴 Colombia6.3-5.6
32🇱🇺 Luxembourg5.6-0.5
33🇪🇸 Spain5.5-1.1
34🇨🇭 Switzerland5.42.4
35🇳🇱 Netherlands5.4-5.3
36🇦🇹 Austria5.2-4.8
37🇫🇷 France4.8-1.2
38🇧🇪 Belgium4.7-5.7
39🇹🇭 Thailand4.7-1.1
40🇿🇦 South Africa3.1-4.0
41🇮🇳 India2.8-3.1
42🇮🇹 Italy2.8-8.0
43🇳🇴 Norway2.6-3.8
44🇮🇩 Indonesia2.0-3.4
45🇵🇪 Peru1.5-6.3
46🇲🇾 Malaysia1.2-2.6
47🇰🇷 South Korea-0.1-5.0
48🇲🇦 Morocco-0.1-7.7
49🇧🇷 Brazil-0.1-5.8
50🇫🇮 Finland-2.3-10.2
51🇩🇰 Denmark-2.4-10.6
52🇦🇺 Australia-3.2-10.2
53🇩🇪 Germany-3.6-12.1
54🇸🇪 Sweden-3.7-13.7
55🇨🇳 China-3.7-5.4
56🇨🇦 Canada-3.8-9.8
57🇳🇿 New Zealand-10.4-16.5
58🇭🇰 Hong Kong SAR-13.5-15.1

Türkiye’s property prices jumped the highest globally, at nearly 168% amid soaring inflation.

Real estate demand has increased alongside declining interest rates. The government drastically cut interest rates from 19% in late 2021 to 8.5% to support a weakening economy.

Many European countries saw some of the highest price growth in nominal terms. A strong labor market and low interest rates pushed up prices, even as mortgage rates broadly doubled across the continent. For real price growth, most countries were in negative territory—notably Sweden, Germany, and Denmark.

Nominal U.S. housing prices grew just over 7%, while real price growth halted to 0%. Prices have remained elevated given the stubbornly low supply of inventory. In fact, residential prices remain 45% above pre-pandemic levels.

How Do Interest Rates Impact Property Markets?

Global house prices boomed during the pandemic as central banks cut interest rates to prop up economies.

Now, rates have returned to levels last seen before the Global Financial Crisis. On average, rates have increased four percentage points in many major economies. Roughly three-quarters of the countries in the BIS dataset witnessed negative year-over-year real house price growth as of the fourth quarter of 2022.

Interest rates have a large impact on property prices. Cross-country evidence shows that for every one percentage point increase in real interest rates, the growth rate of housing prices tends to fall by about two percentage points.

When Will Housing Prices Fall?

The rise in U.S. interest rates has been counteracted by homeowners being reluctant to sell so they can keep their low mortgage rates. As a result, it is keeping inventory low and prices high. Homeowners can’t sell and keep their low mortgage rates unless they meet strict conditions on a new property.

Additionally, several other factors impact price dynamics. Construction costs, income growth, labor shortages, and population growth all play a role.

With a strong labor market continuing through 2023, stable incomes may help stave off prices from falling. On the other hand, buyers with floating-rate mortgages face steeper costs and may be unable to afford new rates. This could increase housing supply in the market, potentially leading to lower prices.

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