Video: A senior U.S. Commercial Service Officer explains why China is a priority target for American exporters.
China is the world’s fastest-growing major economy, and the fastest-growing U.S. export market. It is now our second-largest trading partner. While China’s GDP grew by 10.3 percent in 2010, U.S. exports to China were up 32 percent, reaching $92 billion, and have more than quadrupled since 2000. Our trade deficit in goods with China totaled $273 billion in 2010, but we had a surplus of $6.7 billion in services trade in 2009.
China is the world’s third-largest market for luxury goods behind Japan and the United States. There are more than 200 million Chinese citizens with a per capita income over $8,000, and most economists predict a surge in the number of people achieving true middle class status during the next several years.
Four Tips for Exporting to China:
Tip #1: Consider targeting the Shanghai market
Tip #2: Multiple opportunities in multiple sectors
Tip #3: Many models for success
See the video in which a Senior U.S. Commercial Service Officer elaborates on the 3 tips above.
An extra tip, not mentioned by the U.S. Commercial Service…
Sales incubators provide new exporters with a low-cost and low-risk solution to quickly build their own sales team in China. In effect, the sales incubator is an exporter’s outsourced sales office in-country, which builds the foundation of client sales and Chinese distributor support, during the early years of a company’s entry into the Chinese market.
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