Looking for place to set up your business? How about considering China?
China, officially known as the People’s Republic of China (PRC) is sovereign state located at East Asia, bordering the East China Sea, Korea Bay, Yellow Sea and South China Sea. Covering approximately of 9.6 million square kilometers, China is the world’s second largest country situated in Asia; world’s fourth largest country after Russia, Canada and US.
Looking from the economy, social and environment point of view, China offers great opportunities for business incorporate.
Economy
As China is ready to spend, and with its ability to attract numerous visitors daily, China has great potential leading you to business expansion.
China has become the world’s largest exporter in year 2010, as well as the second largest importer of goods.
Since the introduction of economic reforms in 1978, China has become one of the fastest growing major economies. The restructuring of the economy and resulting efficiency gains have contributed to a more than tenfold increase in GDP since 1978.
As of 2014, China has become the world’s second largest economy by nominal GDP and largest purchasing power parity (PPP). As China stood as the largest economy in the world in 2015, surpassing the US in 2014 for the first time in modern history, still, China’s per capita income is below the world average.
Infrastructure and Communication
China has the largest number of active cellphones of any country in the world, also the largest number of internet and broadband users which equivalent to around half of its populations currently. China hosts more than twice as much national bandwidth potential than the US, in terms of installed telecommunication bandwidth by 2014.
Besides, a wide variety of transportation is available in China, which includes airports, heliports, pipelines, railways, roadways, waterways, merchant marine, ports and terminals.
International Organization and Events Participation
China has diplomatic relations with 173 countries. Apart from that, China is a member of the United Nations as it replaced the OC as a permanent member of the UN Security Council in 1971. Besides, China is also a member of numerous formal and informal multilateral organizations, including WTO, APEC, BRICS, the Shanghai Cooperation Organization (SCO), the BCIM and the G-20.
In year 2000, the United State Congress approved the “permanent normal trade relations” with China, which results in allowing Chinese export in at the same low tariffs as goods from most other countries.
In recent decades, China has increased its participation in calling for free trade areas and security pacts amongst its Asia-Pacific neighbours. China proposed an entirely new East Asia Summit (EAS) framework as a forum for regional security issues in 2004.
Besides, China is also a founding member of the Shanghai Cooperation Organization (SCO), along with Russia and the Central Asian Republics. On 11 December 2011, China has become a member of the World Trade Organization (WTO).
With the development in all aspects, China definitely offers great opportunities for you to set up business and even further expand your business in a short time. For more information and guidance regarding setting up business in China need look no further,