Brief of China Sourcing Prospects and Facts
1. China is the second largest economy in the world and has a huge open marketplace that welcomes foreign investment. The economy of China has grown by over 300% in the past decade.
2. Per capita income in China is still considerably low, when compared to those in many leading western countries. It also has the world’s largest population. Hence, there is a growing abundance of skilled and unskilled labors that can aid one’s sourcing ambitions.
3. China is a haven for thousands of readymade goods, machineries, parts and components, which are available at attractive rates. As a result, western businesses and their sourcing agents stand to gain.
4. Rather than raw materials, manufactured goods are the major exports of China. The country is one of the leading producers of manufactured goods in the world.
5. Many leading global Fortune 500 companies have invested in Chinese marketplace. The dedicated workforce, vast infrastructural improvement and quality manufacturers make it a favorable destination.
6. Chinese policies and regulations favor foreign investment and the government also offers lucrative incentives for investors.
Many businesses are experiencing the benefits of Chinese product sourcing and procurement. It can be the best way forward for your business. Consulting with leading sourcing companies can give you a better idea about the possibilities. Suppliers in China can help you generate better growth and sustainability.