The Fastest Growing Industries to Consider When Expanding Your Business to China

When the name “China” is mentioned, investors correctly see it as a high-potential hub for business. It has a supportive administration, large-market, and impressive inland container ports (ICD) that make transport and business operations convenient. However, like other investment jurisdictions, there are different areas that one can invest in, and it is important to identify the high potential ones. To help you out, here are some of the fastest-growing industries to consider in China. 

Internet Services Industry 

The technology industry in China has been growing rapidly over the last couple of decades, and it is no doubt one of the high-potential areas for business in the country. In 2020, the internet service industry was expected to grow by 25.4% and its revenue to hit $803.1 billion. The booming domestic demand for internet services is also expected to grow at an annualized 34.9% for a period of five years. 

So, whether you want to be a direct internet services provider or sell related equipment, this will be a high-potential niche to consider. Remember that you do not have to limit your operations to China alone. In addition, you can also offer your services and products to neighboring countries and across the globe. For example, consider exporting internet services products to South America, the US, Africa and Europe. 

Online Shopping 

Online shopping is fun, and not just in western countries, but in China too. The thrill of ordering products from the comfort of their homes, offices, or wherever they are anytime of the day or night is irresistible, and the Chinese are really enjoying it. In the years 2020-2021, this industry is expected to enjoy revenue growth of about 18.5%, and you can ride on this expected growth for business success. 

The rapid growth is linked to the rising popularity of e-commerce, the growing number of internet users, and internet penetration. Therefore, if you are looking for a niche with a high potential for growth and returns, consider online shopping in Chin. 

Medical Device Manufacturing Industry 

Another area experiencing huge growth is medical device manufacturing. This growth is largely supported by the fast-improving living standards, the growing purchasing power of health facilities, and demand for better medical diagnosis. These factors are expected to push the growth of revenue in the medical devices industry at an annualized rate of 12.5% for five years from 2019. 

The good thing is that what is happening in China is also being experienced in the neighboring Far East countries. Therefore, you can easily expand your medical device business to Japan, Singapore, India, and other neighboring countries. 

Register Your Company to Take Advantage of these High-Potential Industries 

The high-potential areas for investment that we have highlighted above are only a few; the list can be a lot longer. Others include movie production, hospitality, and auto sectors. However, you need to make the first step – registering a company in China. This will give you the authority and legality to run the business in the country and take advantage of the available opportunities. 

The truth about incorporating a company in China is that it can be pretty tedious and lengthy if you opt to do it independently. The best option is working with an agency of experts to help you with registration, complying with all the legal requirements and executive functions. You will also find the experts very useful in crafting strategies for success in China.