China- Business Opportunities
The Consulate General of The People’s Republic of China, Mr. Liu Mingming and Mr. Tang Guocai accepted the Honorary Membership of Global India Business Forum, in the presence of Global President Dr. Jitendra Joshi, Global Coordinator Deepali Gadkari. Realizing the strengths of Global India Business Forum and the Consulate of China and conscious of the benefits to be derived by both organizations and its members through this mutual understanding, both parties will be associated with each other in mutual cooperation to facilitate mutual investment, trade and economic cooperation complimented by knowledge sharing, training, certification and networking.
China or the People’s Republic of China is a country located in East Asia. This country is the most populous country in the world and has a population of 1.4 billion. The total land area of China is around 9.6 million sq. km. The country is led by one party which is the Chinese Communist Party (CCP) and this party exercises its jurisdiction over 22 provinces, five autonomous regions, four direct-controlled municipalities, i.e. Beijing, Tianjin, Shanghai and Chongqing and the special administrative regions of Hong Kong and Macau. China also is one of the oldest countries in the world, in the sense that one of the world’s earliest civilizations and was also one of the world’s earliest economic powers right from the 1st century to the 19th century. The country saw some of the most advanced technologies of its time during the Han Dynasty such as papermaking, compass and there were significant improvements made in the fields of medicine and agriculture. Gunpowder was also invented in China along with the process of printing something on paper. These inventions made for the Four Great Inventions (paper, compass, gunpowder and printing). China is a unitary one-party socialist republic and the country is a recognized nuclear weapons state and also has the world’s largest army, which is the People’s Liberation Army. China is also a permanent member of the United Nations Security Council and has been touted as a potential superpower because of its economy, rapid infrastructural development and military power.
Business Opportunities in China
Education is one of the fastest growing sectors in China as the country has millions of students going to foreign countries to complete their education. In fact, China is the largest source of international students for countries like Australia. Moreover, in 2018, as many as 2,55,364 students had enrolled themselves in Australian institutes, including schools. Another important sector that can act as an attractive business opportunity is the Healthcare sector. The Chinese population is an ageing one and the pollution in the city has also reached alarming levels. Hence, other countries with strong healthcare systems can contribute by investing in the country’s healthcare system, thus benefiting China and the investing countries as well.
Exports and Imports in China
Exports of China increased by 21.1% to an all-time high of $268.07 billion in the month of November 2020 and this growth in exports was the fastest seen since February 2018. Whereas the imports of the country also increased by 4.5% to $192.65 billion in the month of November 2020, which was lesser as compared to 4.7% growth in the previous month, i.e. October 2020.
Top Exports of China
The top exports of China are electrical machinery and equipment, computers, furniture, plastic articles, clothing and accessories, medical equipment, iron and steel and organic chemicals. The main export partners of the country are the USA, the EU, ASEAN, Japan, South Korea, Taiwan and Australia.
Top Imports of China
Top imports of China are mineral fuels, ores, slag and ash, optical and technical apparatus, vehicles, gold and iron ore. The main import partners of the country are ASEAN, the EU, the USA, Taiwan, South Korea, Japan and Australia.