China is a global hub for manufacturing, and is the largest manufacturing economy in the world as well as the largest exporter of goods and is the second largest importer of goods globally. China is also the world’s fastest growing consumer market and is a net importer of services products.
It is the largest trading nation in the world and plays the most important role in international trade, and has increasingly engaged in trade organisations and treaties in recent years. China became a member of the World Trade Organization in 2001 and has also free trade agreements with several nations.
While the rise of China is easy to acknowledge, businesses constantly need to catch up with the speed and depth of change and development in China’s large and complex market space. Whether selling, trading, investing or franchising, China offers opportunities in abundance to companies from all over the world, particularly 1n the following sectors:
- Finance, professional and business services;
- Oil and gas;
- Power generation;
- Renewable energy;
- Advanced manufacturing;
- Marine (systems and equipment, design, operations, yards);
- Life sciences and healthcare;
- Retail (groceries, luxury goods, e-commerce);
- Culture (TV, gaming, advertising, attractions).