How do businesses grow in the world’s second-largest economy? We look at China’s key domestic and multilateral development initiatives.
China’s economic power has changed from reliance on manufacturing to being driven by exports, investment, and domestic consumption. Meanwhile, the country continues opening its doors to foreign players. This two-pronged approach injects vitality into the economy and helps to counter the risks arising from a complex global and domestic environment.
China’s aspiring Belt and Road Initiative has driven outward investment, while its expanding Free Trade Zones and increasing imports allow more foreign participation. As China strives for high-quality growth, innovation and technology will have a deep impact across all fields. One of these is the Guangdong-Hong Kong-Macao Greater Bay Area – a city cluster that is expected to surpass its global peers in economic terms and in innovation.