This publication from U.S Commercial Service with content provided by the professionals at Dezan Shira & Associates and Asia Briefing, provides a close look at 19 of China’s commercially important cities and 16 of its best prospect industries for U.S. exporters. With focus on market demand, trade opportunities, and prospects for investors, this guide highlights the superb opportunities China’s emerging and established markets provide for U.S exporters.
In 2015, China experienced its lowest economic growth rate in more than a quarter century with real GDP growth decelerating to 6.9 percent. China’s newly approved 13th Five-Year Plan (2016-2020) calls for ambitious policy reforms in order to “comprehensively build a moderately prosperous society” by doubling 2010 GDP and per capita incomes by 2020.
With respect to trade, U.S. good exports to China in 2015 were $116.2 billion, down 6.1 percent from the previous year. U.S. exports of services to China were an estimated $42.5 billion in 2014 (the latest data available). Although significant market access barriers exist for foreign firms, U.S. foreign direct investment in China was $65.8 billion in 2014 (the latest data available), a 9.8 percent increase from 2013.
Despite this slower and managed growth, China remains an extremely attractive market for many U.S. companies. U.S. small and mid-sized enterprises (SMEs) in particular are major beneficiaries of China’s economic growth and increasingly consumer-oriented society.