ENGLEWOOD CLIFFS, N.J., July 22, 2008- China is home to the biggest population on the planet-1.3 billion people. Its economy is growing at a stunning rate- nearly ten percent a year for the last decade. And its wealth is on an astronomical rise, with more than 400,000 millionaires on the mainland and when it comes to billionaires...only the U.S. has more. It is the ultimate market of the 21st century for businesses around the globe.
On Wednesday, July 30th at 9 PM & 12 AM ET, CNBC presents "Made in China: The People's Republic of Profit," a one-hour original special reported by CNBC's Melissa Lee that takes viewers to the frontlines of business in China.
Lee introduces viewers to some of the "young guns" of China, the new wave of entrepreneurs who are starting companies in the wake of economic reform, and are hoping their ventures will help fuel China's ferocious growth into the future.
Lee explores how large American companies are blazing their own unique trails to succeed in China including Home Depot, which is tapping into the new breed of homeowners hoping to create a new do-it-yourself class. Kraft is also going so far as to change the formula for America's favorite cookie, the Oreo, to appeal to the delicate tastes of the Chinese. Lee takes viewers inside the latest venture at Yum Brands, the company known for KFC and Pizza Hut, which is now selling Chinese food in China. In addition, she follows the leadership of California based clothing company, American Apparel, which is hoping to defy convention by selling "Made in the USA" clothing basics to China, where a third of all garments are made.
CNBC also goes inside the battle for the fastest growing Internet market in the world. Lee speaks to Robin Li, founder of Baidu.com, the leading Internet search engine in China. And, she asks Google China's president, Kai-Fu Lee, why the search giant is in second place behind the Chinese upstart.
Viewers will also get a rare look inside one of the most exclusive golf clubs in the world, where membership, which costs $250,000 a year, has its privileges.
Melissa Lee is a CNBC reporter and anchor. The executive producer of "Made in China: The People's Republic of Profit" is Sanford Cannold. Stephanie Giambruno is the field producer in China, Justin Solomon is the producer in the US, and Samantha Wright is coordinating producer.
For more information including web extras and extended video clips, log onto: madeinchina.cnbc.com.
CNBC's "Made in China: The People's Republic of Profit" will re-air on Sunday, August 3rd at 9PM ET, Thursday, August 7th at 9PM ET and 12AM ET and Sunday, August 24th at 11PM ET.
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