Entering the China Market requires extensive formulation and planning, taking into consideration some complex factors too. Some of these factors like geographical differences, doubts and insecurities associated with transition, and distribution and marketing related problems functioning properly in an integrated manner lead to the overall development of China 's business market .
The inclusion of China as the member of the World Trade Organization (WTO) in 2001 is indeed a significant event in the history of international trade. Based on the economic conditions of the country, the modes of operation of the China market are guided by the regulations of Chinese market economy.
In fact, after several reforms and opening-ups China market economy has been able to establish itself on a sound basis after a long time span of twenty years. According to the Economic and Resource Management Research Institute under Normal University in Beijing, China market economy rose to 69 percent when measured in terms of the globally accepted standards.
Recent developments occurring in the China market :
- During the first half of 2007, the actual Gross Domestic Product or GDP in China grew by 11.1 percent
- The reserve requirement ratio of the Chinese banks will increase by 0.5 percentage points in May 2007
- In 2007 March, the fixed asset investment of the China market increased by 26.8% and in the first quarter, by 25.3 percent
- In the first part of 2007, the added value industrial output grew by 18.3%
- Prices of food went up by 6.2% during the first half of 2007
- The consumer price index rose to 2.7% in the first quarter of this year
- By the end of 2006, the total number of private enterprises and companies went up to as many as 4.98 million
China market is flourishing highly with indeed, very good future prospects. It is the rise and fall of this market that acts as the economic indicator of China.
