China is an economic powerhouse that is in the race to the top. After adopting economic reforms in 1967 and crafting good monetary policies, China’s GDP has now grown to $16.642 trillion, only second to the US.
In fact, it is already at the apex if you factor purchasing power parity in the GDP. The most notable thing about China is that its momentum for growth does not appear to ebb out over time, making it the go-to jurisdiction for investors aiming at rapidly growing their companies. If you make the decision to go to China, it will be a huge leap that can catapult the enterprise into a global brand.
In this post, we will demonstrate why doing business in China should be your next target. We will also highlight how you can rapidly grow your business to rival other global giants.
China Makes It Easier for Businesses to Optimize Sales and Profits
The first step to taking your enterprise global is optimizing sales and China has the recipe for that. The country is home to a population of more than 1.4 billion people, all waiting for your products. So, if the market back home is limited, going to China will be a huge leap towards the success that you want.
Apart from the large population, China also boasts of a wide range of business opportunities. This means that no matter the way you look at it, China will have space for you to grow. So, what is your business area? Is it in tourism, manufacturing, agriculture, artificial intelligence, or the auto industry? Why struggle at home or in another jurisdiction when China is ready to offer you a boost?
Regional Bilateral Trade Agreements
Doing business in China for most people is like an eye-opener. You might rapidly move to China to take advantage of the local market, but it will become clear that even the regional market is within reach. So, if you had planned to access only the different provinces of China, reaching Malaysia, Singapore, Australia, and South Korea would also be pretty straightforward.
To assist traders in reaching and selling in these regional markets, China has signed multiple bilateral trade agreements with Asian states. One example of these is the Closer Economic Partnership Arrangement (CEPA) between China and Hong Kong. This agreement allows companies in both jurisdictions to access each other’s market at no or reduced tariffs. Other bilateral trade agreements include:
● China-Australia FTA.
● China-Singapore FTA.
● China-Pakistan FTA.
● China-Cambodia FTA.
China Negotiates for Better Treatment of It Companies
To help extend reach for its companies, China also looks beyond the Far East. The country’s administration negotiates for better trading terms and conditions, which have made it pretty easy for investors to reach America, South America, and Europe.
For example, it has signed free trade agreements with Switzerland, Chile, Iceland, and Canada, among other nations. These agreements, coupled with a well-developed infrastructure system, mean one thing, expanding globally when doing business in China is pretty straightforward.
If you have been looking at other top brands across the globe and felt the desire to become equally successful, the time is now, and the answer is doing business in China. To take advantage of this high-potential market and grow your enterprise rapidly, make sure to work with an agency of experts.
These professionals will not just help with company registration but also with crucial functions, such as accounting and payroll management. Do not limit your business potential; it is time to conquer the world, starting with offshore company operations in China.
Jason is the Marketing Manager at a local advertising company in Australia. He moved to Australia 10 years back for his passion for advertising. Jason recently joined BFA as a volunteer writer and contributes by sharing his valuable experience and knowledge.