Selling in China

BASIC FACTS ABOUT CHINA

• China is the world’s most populous country, with a population of over 1.3 billion – making it currently the most attractive market in the world.
  
  
• Thanks to amazingly rapid growth during the past few decades, China is now the second-largest economy in the world (according to unofficial data, already the largest).
  
  
• The Chinese market offers huge potential – Chinese consumers spend vast sums of money on everyday items as well as on luxury goods.
  
  
• The driving force behind this consumer boom is China’s rapidly growing middle class – estimated at around 300 million people, mainly living in the large cities.
  
  
• China’s population is beginning to age, and there is a boom in the consumption of products related to health and quality of life, as well as products aimed at children.
  
  
• An estimated 600 million Chinese people are online – the Chinese love shopping online, and e-commerce is experiencing a huge boom.
  
  
• Chinese companies have plenty of funds at their disposal. They use modern technologies, prioritize innovation, rapidly acquire new know-how, and they are keen to expand – so they need new products that will help them to consolidate and strengthen their position on the fiercely competitive domestic market.
  
  
• China runs state-funded programmes to support the modernization of industry, construction, infrastructure, etc. – and R&D investments have grown at an incredible pace to reach billions of USD.