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| Introduction | Business in China | Program | Implementation | Timeline |
 
Even if you have already decided to enter the Chinese market, it is still helpful to know some of the facts.
Benefits of Doing Business in China
- China has the largest Human Resources population in the world
- China has the 6th largest GDP and 2nd largest purchasing power in the world
- China has 95 Million manufacturing jobs while the US has 25 Million
- US high-tech exports to China grew by 60% in 2003
- The February 23, 2004 Fortune Magazine contained an article entitled 10 Tech Trends to Bet on. The article indicated that China will rule the tech world in the 21st century. Out of the top 10 trends to bet on, it was the third most probable.
- China is the world manufacturer of choice; thousands of companies are locating in China not just from the US but also from other countries around the World.
- Each year China produces as many engineers and scientists as the US does , while the total number in the US is decreasing.
- The Chinese Government is pouring the equivalent of tens of billions of dollars into education and R&D facilities for science and medicine, at the same time US spending has been stagnant.
- China is no longer content to cheaply make other people's products, a task it has clearly mastered - China wants to be a global standards leader
- China 's economy is growing at 8% to 10% a year. Its consumer market is growing even faster.
General Information about China
- Largest Population in the world (approximately 1.3 Billion)
- Slightly smaller than the US in size
- Exports $325.7 Billion and imports $295.2 Billion
- Leading Exports - Apparel (12.7%) Computers (11.1%) Electrical Equipment (9.8%) Telecommunications (9.8%)
- Leading Imports - Electrical Equipment (18.8%) Oil (5.8%) Machinery and Parts (5.3%) Apparel (4.4%)
- 21.5% of Chinese exports go to the US while only 9.2% of their imports come from the US.
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