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The Most Profitable Areas to Consider when Opening a Business in China
Global Banking & Finance Review®
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China has been hitting the headlines for different reasons, such as becoming the biggest manufacturing hub and high
China has been hitting the headlines for different reasons, such as becoming the biggest manufacturing hub and high foreign direct investment (FDI). The World Bank is now predicting that its economy is approaching a point where it is likely to overtake the United States. One piece of news that excited investors so much is the report from the National Development and Reform Commission (NDRC), the top economic planning body in China. In the report, NDRC revised the negative list that highlights the prohibited areas, from 131 to 123.
This is an indication that China is progressively opening up its market to investors. Therefore, you have more areas to consider for investment when expanding to China. Keep reading as we highlight the most profitable areas that you should consider when expanding your business to China. We will also explain the benefits of using an agency of experts to register your company.
Here are some notable business opportunities that you can consider for faster growth and high profitability:
As manufacturers come to China, the demand for industrial automation and control-related products has been growing. You can take advantage of this niche by positioning your business well to supply the automation products. Remember to install a robust research and development unit in your company and work with target clients to be able to deliver exactly what they want.
Today, people are becoming more conscious about their health. Therefore, they are ready to buy healthcare products that can help them to stay in control. In this niche, you can target the production of products such as fitness wearables, home health-related products, and medical equipment.
Today, China is one of the most visited countries on the globe. In 2019, China received 145 million visitors. This is not all. More than 700 million Chinese travel within the county for holidays, and you can tap this niche for business. Top opportunities in tourism include running a travel agency or hotels, among others. For example, your tour agency can help visitors to plan for flights, book hotels of choice, visit different heritage sites, and enjoy every moment of their travel to the country.
Now that you know the most profitable areas to consider for an investment, the next step is registering the business. We must indicate that registering a company in China can be pretty complex. It is not uncommon to see some investors giving up along the way or others complaining of the associated high costs. Well, you can avoid all of these to conveniently open a company in China by working with an agency of experts.
If you want to take advantage of the fast-growing Chinese market, the time to make a move is now. The government is working on opening the economy even further, implying that more areas for doing business will be available. To take advantage of the business opportunities for success that we have listed above, reach out to and work with Hawksford, one of the most revered agencies of experts.
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