Marketing in China: Why the Chinese Market Is So Important For World Business

Published: 15th June 2010
Views: N/A

In the past decade or so, there have been a number of significant changes in China, which has made it one of the leading global economies. China now stands second in the world in terms of economic success, and records purchasing power parity of over £5 trillion GDP and an exchange rate GDO of over £34 trillion. These achievements have all taken place since the turn of the century and have caused people from across the globe to sit up and take notice of China as a country.

China also overtook Germany in terms of manufacturing output and export. These factors indicate that China is set to jump ahead of the US, with its economic growth being a consistent 10% in the past decade - making it a very important market for world business. In the one year between 2006 and 2007, the Chinese export and import market saw a growth of over 30%, which is a huge achievement for any country.

Since the year 2000, China has made a number of improvements to its foreign policy for potential investors. There has been a large influx of foreign trade in the country. This combined with the relatively low per capita spending in the country means that China now has incredible spending power in the global market.

With such a strong economy and availability of a number of resources, both in terms of human resources as well as natural resources and technological know-how, China is one of the biggest players in the world economy. The country is moving from strength to strength and they are constantly changing their policies to ensure that they remain ahead of the pack. This indicates that the Chinese market is stable and growing, making it an important arena for world business as it will continue to have a say in the global economy for years to come.

For companies looking to gain a greater market share in the Chinese market, marketing direct to companies on the Chinese mainland can be achieved through one of the literally dozens of international trade shows which place each year and bring together Chinese companies with new partners across Asia, Europe and the rest of the world.

Direct Marketing to Chinese manufacturers, companies and suppliers is not always easy but the benefit of attending these exhibitions and trade shows is the chance to meet under one roof in an environment in which cultural differences are fewer given the number of translators normally on hand and given the truly international mix of people who tend to attend these events.

Catherine works in Marketing and is involved with Exhibition Stands in Ireland and Exhibition Graphics for business shows.

Report this article Ask About This Article

More to Explore