China, A market full of opportunities
The Chinese economy continues its dynamic performance, averaging around 10% growth for the last 5 years. As barriers to entry are reduced, more and more businesses are considering their entry into China. This is in an effort to capture some percentage of the returns generated by China’s 1.3 billion consumers.
General Economy in China
The Chinese economy now maintains the 3rd position in the world with making it the fastest growing major economy in the world. It is forecasted by the banks (Quarterly Bank reports) that GDP in China would up to 10% in 2009.
- US $4.32 trillion of GDP in 2008
- 9.1% of economic growth in 2008
- 1.3 billion People in China
- US $1.43 trillion of Export and US $1.13 trillion of Import in 2008
Shanghai, China’s Fashion Capital
As China is becoming an effective and important force in the world economy for its rapid development, Shanghai, the leading modern city in China, act as an international hub for trade, finance, transport and fashion
- US$ 10,537 of GDP per capita in 2008
(the average of GDP per capita in China is US$3,180)
- No. 1 consuming city, accounting for 36% of the total amount of consumption in China
- Luxury goods consumption is estimated at US$ 3 billion in 2008(accounting for 30% of the total luxury goods consumption in
China) and it is predicted that it will be exceeded US$5 billion.
Shanghai is the gateway of business for Chinese market
- The largest and the leading modern city in China, Shanghai acts as an international hub for trade, finance and transport
- One of the world's largest seaports (582 million tons of cargo was handled in 2008), Shanghai
seaports make up 25% of the total amount of trading in China
- With US$17.11 billion of total contracted foreign investment in 2008, up by 15.1% pervious year, it is the leading city of the
open-door policy in China
Fashion industry in China
The Chinese fashion Industry makes a major contribution to the Chinese economy.
China fashion market is a US$90 billion industry and the annual growth rate of fashion & textile industry was 12.5% in 2007
- Total output of clothing in 2007 was 60billion pieces, an increase of 17.6% over last year
- US$1,881 million of total import value of China's clothing and accessories in 2007, an increase of 13.5% over last year
