China is on a growth trajectory that is largely buoyed by large foreign investments flowing into the country. If you are planning to start doing business in China, make sure to work with an expert agency to help you understand the suitability of different regions.
In this post we are going to look at the three best regions that are overflowing with potential for investors.
Beijing is the second-largest city in the country based on GDP, which exceeded RMB 3 trillion in 2018. The city serves as the seat of the Chinese government, and it is host to some of the biggest state-owned firms. Also, most Fortune Global 500 Companies in China have their presence in Beijing.
Located close to Beijing is Chaoyang District, also known as the Beijing Wall Street, which is also a magnet to foreign investments. You should also consider the region because of its good business environment, excellent telecommunication, and top-notch transport network.
When the Beijing Municipal Commerce Bureau released its Three-Year Action Plan for delivering services, it opened new opportunities for investors. The action plan focused on eight areas that you use to position your enterprise for growth. The subsectors included:
- Science and technology.
- Culture and tourism.
- Internet formation.
- Health care.
- Professional services.
Shanghai-Jiangsu-Zhejiang is another top-rated region that you can count on to grow your enterprise rapidly. Shanghai, the most populous city in Mainland China, is one of the top destinations for investments. I
n 2018, Shanghai had a GDP of RMB 3.3 trillion, the highest among all the cities in China. Although Shanghai grew as an industrial and business hub, it is now focusing on developing the following six industries that you can focus on when doing business in China.
- Electronic formation.
- Fine steel.
- Equipment complex.
The Great Bay Area
If you are looking forward to doing business in Southern China, one of the best regions is Guangzhou, the capital of Guangdong province as well as Shenzhen, “the Silicon Valley” of China.
Guangzhou has grown rapidly, becoming the top destination for the production of top-rated products, especially the hi-tech gadgets and automobiles. Today, there is no doubt that it is the city of innovation. I
t is also important to note that Guangzhou and Shenzhen are part of the Great Bay Area plan that is expected to grow and hit USD 3.6 trillion by 2030. As every effort is put to make the Bay Area one of the most competitive regions for foreign investment, consider taking your business there to enjoy faster growth.
When you decide to expand your business to China, selecting the right region is only the first step. The next big thing is selecting the right business formation and incorporating your company in China.
These processes are complex, and you should ensure to have the input of an expert on your side. You can get more infos here on how to open your business in China and take it to the next level.