Doing Business in China

If you are looking East with a view to international expansion, doing business in China could be an exciting prospect with the world’s largest population to trade with.

shanghai-night-china

Its booming economy over recent years is another plus point for exporting to China. It grew 10 times faster than than of the USA in the decade to 2013. In 2010, China surpassed Germany as the world’s largest goods exporter.

A note of caution though – China sits at #96 in the World Bank’s Ease of Doing Business index, and if you are looking to establish a local presence, starting a business there and taxation can be tricky.

See other key stats for business in China below:

MetricRankingDetails
Population (M)11,350,695,000
Size of Economy (GDP)2$9.2 Trillion
GDP per Capita82$9,844
Ease of Doing Business (World Bank)9661.51/100 DTF Score
Global Language Popularity (native speakers)1Mandarin: 995M Global Speakers
Area in Square KM59,596,961
2013 Human Development Index (and Change since 2011)101Same Ranking as in 2010
Internet Users1568,192,000
Internet Penetration10242.3%
Internet Speed (Ookla)3822.24 Mbps

Naturally, China has strong trade relationships with other countries in Asia, particularly Hong Kong, Japan and South Korea. However, despite being its main economic rival, the USA is the #1 destination for Chinese exports, accounting for 17% of goods sent overseas.

China’s top export products are:

  • Electronics
  • Clothing and textiles
  • Iron and steel
  • Optical and medical equipment

With such a large population and it’s strength in the electronics sector, it is no surprise that its has the highest number of active mobile phones, as well as internet users.