China has set its economic growth target at 6.5 to 7 percent this year, due to a major policy shift from seeking quantity-growth to cost-benefit optimized and sustainable growth. 6.5 to 7 percent growth is where the market can generate adequite new jobs for its growing labor force while giving the government maneuvering space to slash low-quality excess manufacturing capacities. Signs that the strategy is gaining traction are a stabilized property market, accelerated development in enabling infrastructures such as high-speed railways, green energies, and a booming IT and high tech sector. The wages are rising, but that also come with steadily improved quality control, productivity, higher pricing and consumer spending.
China is an especially fertile hotbed for small and medium-sized companies trying to turn innovative ideas into new products and services. You can test your assumptions quickly before hitting the numbers. Chinese people are more than happy with high-tech solutions that deliver decent performance at a lower cost, giving you the cushions to further improve your products or services for the developed world.
Many Western firms get involved in China before setting up a fully staffed office. Much of the work is digitalized. This is the beauty of the Internet era: you can reach and keep in touch with clients, partners, and suppliers worldwide without having to leave your office. A perfect place to get started is our free "Digital Network."
We also provide China business consulting service to help clients penetrate the China market in a highly cost-effective manner. For more information, please click related links on this page, or send us a quick email at email@example.com.