China is the world’s second largest economy, with an annual growth rate of more than 8 percent and a rapidly growing middle class. Foreign investment into China routinely exceeds US$100 billion a year. Businesses from all over the world must have a China strategy to remain competitive and succeed in the global marketplace. This Market Entry brief will cover some essential issues and questions confronting companies as they develop or expand their China strategies. More detail is available at any time from our China Team. Your attention is called to the disclaimer at the foot of this brief.
Regardless of how a company decides to enter the Chinese market, it is important to realize in advance that China is an emerging market economy, and many of the procedures and practices familiar to businesses around the world are still evolving in the People’s Republic of China (PRC). Also, China’s mixed economy has a heavy component of government control and direction, so permits, licenses, approvals and inspections are a daily part of doing business in the PRC. China’s body of laws and regulations is quickly becoming more detailed, but investors often face ambiguities and gaps in the rules requiring coordination with local and national authorities, who hold considerable discretion.
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