US companies continue to feel that China's growing middle class will lead to market opportunities across a number of industries. Companies in various industries and service sectors are most likely to prioritize China in growth plans. Consumer-based companies view China as a fertile area for expansion because of the exploding Chinese middle class and it vast purchasing power. Companies in the industrial and resources industries expect to benefit from the globalization and urbanization push in China.
China: The Facts
1.Since 1970s, China's economy has grown at a rate of up to 10% a year
2.In the first half of 2017, China's GDP was 6.9% higher than it was in 2016
3.China's economy is the second around the world, and it could soon overtake the USA.
4.Its predicted spending on research and development (R&D) will surpass the USA's by 2018.
5.China could be the largest economy in the world, accounting for around 20% of world GDP in 2050.
China: What Others Say
“The future of trade in Asia could depend heavily on what becomes of China's expansive One Belt, One Road initiative, which calls for massive investment in and development of trade routes in the region.”
------McKinsey, July 2016
“China's middle class is larger, richer and more vocal than ever before.”
------ Economics, July 2016
“The growing middle class of China spent over $215 billion overseas in year 2016, more than any other nation.”
------ Business Insider, September 2016