Bright Business Consulting LLP

Friday, September 21, 2018

China for Everybody

What comes to mind when talking about China? Most people think of the enormous and far away communist "Country" too distant geographically and culturally to be discovered and understood. In the collective imagination, China will set up a space and cultural context frighteningly distant and different from the western one. For this reason, it is often mistakenly painted through a sterile series of clichés. In reality, the “Country” is undergoing a deep change.

Thanks to the sustained increase in wages, to the government incentives and the rapid urbanization, more than one billion three hundred million Chinese are going to become a nation of consumers with great potential (many of them already are). For the "Country" it is only the beginning of a phase of development that will bring with it a series of numerous opportunities for economic growth.

The Chinese market is one that requires a lot of attention, knowledge and preparation. That's why facilities such as Bright Business Consulting LLP support enterprises to seize opportunities and avoid mistakes that can represent costs, delays and/or nuisance.

China has become the second largest economy in the world with amazing speed. The forecasts of many analysts, place China in the first place by 2030. Consistently high economic growth after 2001, has undoubtedly strengthened the purchasing power of many Chinese. To further support the new trend of growth, China is focusing on private consumption. As demonstrated by numerous governmental intervention measures, the goal is to increase income, allowing the population to increase domestic consumption. As a result of this growth in consumption is therefore intended to last for many years.

By now, the private consumer spending in China is far lower than in many other countries. However, forecasts indicate a rapid recovery in the coming years: if in 2010, private consumption accounted for about 35% of GDP (GDP-Gross Domestic Product) for 2020 it is expected to increase more than 50%. In other words, people will spend more than half their disposable income on consumer goods. A growing number of Chinese will move from rural to urban areas (over 30%), and the existing urban areas will continue to expand, creating new mega-cities, especially in continental and western provinces of China. The Chinese are trying to get an education and better jobs with better wages; should be further highlighted their school system of education, overly selective and merit-based, which argues in favour of the individual, a marked social, economic difference on the basis of the obtained merit. Higher wages will lead to an escalation in the growth of the middle classes.

If it wants to stay on a path of solid growth, China needs to change its business model, moving away from an economy based on exports in favour of an economy supported by domestic consumption. Lower taxes, increases in salary and subsidized goods: the last five-year plan, the 12th (2011-2016), shows a central government determination to promote consumption demand in China. Well aware of the direction taken by the Central Government aimed at increasing the economic well-being among the various investment opportunities, there is also the property market. For many foreign investors, aware of the huge potential of the sector, the Chinese real estate market represents a real and concrete investment opportunity.

According to the latest statistics released by the central government, the real estate industry in China plays a vital role, it constitutes more than 10% of the Chinese economy and continues to record a strong presence of foreign capital in the field of:

  • Luxury residential real estate investments
  • Economic residential real estate investments.

Until a few years ago for a foreign person to buy a house in China was impossible. There were no Laws to regulate real estate purchases by foreign entities. The economic liberalization has brought with it the transition from communist to a capitalist era with considerable success in the field of housing speculation. With a series of circular letters, the central government has imposed on foreign investors who wish to get closer to the real estate industry in China, to make it through locally incorporated entities. There is also the fact that some local Governments have enacted ad-hoc laws and regulations aimed at mortgage processes in the housing market.

The skills and knowledge of Bright Business Consulting LLP together with many other elements allow everyone (individual physical and/or legal entities) to have access to the estate property market with appropriate “Warranty and Assistance”.

With the increase of the weight of China in the world economy, many foreigners choose to work in this "Country". Apart from the attraction of being able to work in one of the fastest growing economies in the world, many are attracted by the idea of living close to a completely new culture. China certainly offers many opportunities for work and in recent years there has been a continued growth in the demand for immigrant skilled workers, among other things, in the following fields:

  • MARKETING AND SALES: the job opportunities in the field of marketing and international sales are high. Although the task may relate to the international markets, a deep knowledge of the Chinese habits and behaviours on business is essential to succeed in this area;
  • ENGINEERING: the rapid growth of industrial production in China, means that the demand for qualified engineers and technicians is constantly increasing. The fastest growing sectors are construction engineering, electrical, electronics, mechanical, civil, structural, manufacturing and production vehicles, systems and materials;
  • HI TECH (HT) SECTOR: the small and medium-sized Chinese enterprises operating in the field of HT offer real employment opportunities, especially in the southern city of Shenzhen, in Shanghai and in the Beijing district of Hi-Tech research and development of Zhongguancun. Due to the rapid growth of the technology sector with the support of the central government, today there is a lack of HT professionals with thousand vacancies even in areas connected to it;
  • ECONOMICS AND FINANCE: more and more Chinese companies are looking for accounting professionals as well as experts in the collection, recording and review of historical financial data;

Most of these jobs are offered by companies based on foreign capital but the number of foreign workers is also growing among private and even public Chinese companies. To settle in China it takes planning: first of all we need a “Permanent Visa”. Bright Business Consulting LLP assists anyone needing the release of "Permanent Visa."

Company Formations In China

Practices For Visa Permanent

Deposit & Trademark Registration In China

Emerging Markets

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