6 Reasons China Market Presents Rare Business Opportunity
Posted :Posted 13 July, 2015
If your business hasn’t already started to explore the opportunities that expanding to China market could yield – there has never been a better time than now. 2015 marked the first year in over a century that the U.S. was no longer the largest economic power in the world. In 2015, the Chinese economy passed the U.S. economy in terms of purchasing power.
The sad fact is that the economic rise of China has gone unnoticed by my international companies, who are now scrambling to find simple ways to begin offering their products and services within China’s market.
All over the world, tons of businesses, entrepreneurs, and start-ups are in need of extra help. At Callnovo, we provide a type of professional service that is called China Virtual Assistant (VA).
This is where Callnovo can help. We specialize in helping businesses tap into the Chinese economy by providing full-service call center services and simplifying the process as a whole. We can walk you step-by-step through the process of setting up the right teams and systems in China, all the while growing your business.
A few reasons why your business should consider expanding into the Chinese market include;
- China’s economy has grown 300% over the last 10 years.
China’s economy has grown 7x as fast as the US economy over the last decade. If you are interested in growing your business, there is nothing better than being at the forefront of a market that has experienced extreme growth. China’s economy is growing rapidly. It won’t be long before China is the undisputed worldwide economic powerhouse. Getting in on the ground floor will allow you to grow with the economy as a whole!
- China’s cities and urban areas will grow by 300+ million by 2030.
A recent study performed by McKinsey & Company, China is expected to make a concerted effort to incentivize moving their rural populations to the big cities to facilitate economic growth. Soon, the total urban population of China will outnumber the U.S. population in total, and that provides a huge incentive for international companies to claim a foothold in those large cities before these large population migrations take place.
- China now exports 4x the amount that the US imports into China.
It’s no secret that China has been an exporting powerhouse for several decades – but few realize how big the gap has actually become. China has become America’s second largest supplier, after Canada. Today China and the U.S. are two large engines whose economies are completely dependent on each other for future growth.
- Many American companies have already benefited from Chinese market growth.
Today the USA exports to China have averaged over 20% growth per year over the past 5 years. China has surpassed the UK and Japan to become our third largest export market. As China’s market continues to mature, these numbers will only continue to climb.
- China’s economy continues to grow at almost 10% per year
China’s markets have seen amazingly steady growth for the last decade. At 9%-10% growth per year, this presents an amazing opportunity for flourishing businesses to expand into a new market. In fact, many foreign companies have seen the light, and started to invest heavily in China – particularly over the course of the last decade. Foreign investment remains very strong at roughly $55-60 Billion per year. This investment is increasingly coming from small to mid-size companies which see China as a real opportunity for growth. For businesses in the US, Canada, Australia, and Europe – there has never been a better opportunity for expansion in China.
- China has a 1.3 billion total population, 200 million people in the middle class who are mostly centered around urban areas.
The Chinese middle class has shown an increasing appetite for products and services that can help fuel the growth of international companies. With a population of 1.3 billion, the possibilities for growth within China’s market are truly endless. This combined with the rapidly expanding Chinese middle-class means that businesses that invest now in their Chinese expansion will reap the benefits for years to come.
How Can My Business Take Advantage of China’s Growth?
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Posted : 05 November, 2018