China
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WHY CHINA?
In the last 20 years, China has evolved faster than any other country in the world. Covering over 3.7 million square miles, China is the one of the fastest growing economy. Shanghai is the largest city of China, whereas Beijing is the capital. China’s strong government support for Foreign Direct Investment (FDIs), infrastructure development, cheap labor, new strong market reach etc. gives advantage for foreign investors to set up manufacturing plants in China. Its Gross Domestic Product (GDP) growth rate over the past three decades has often bypassed 10%, and consistently exceeded by 7%.
ADVANTAGES
Recently, China has become the manufacturing hub of the world. The country’s substantial part of the economy depends on international trade. It is the largest importer and exporter of goods and the largest manufacturing economies in the world. Thus, establishing a business in China would have the following benefits:
Favorable government policies
Favorable government policies ensures easy access to local business partners and investors in China. The business ecosystem in China is facilitative and the resources for growth are abundant both in rural and urban China.
The Chinese government has been very proactive in enforcing entrepreneurial supportive measures for both local and international companies. Some of these measures include:
- Lowering tax rates for foreign companies than the coastal regions.
- Assisting young people to incubate their ideas; and
- Giving its citizens business subsidies.