China to Become the World's Largest Importer
- Written by: Bridgewest
- Posted: 2018-01-24
If at the moment, the largest importer for countries worldwide is, according to statistics, the USA, a force on an international plan, the things are about to change, as China is expected to switch places. With a solid background in this direction, China is already considered a significant party in the overall trading field. Foreigners who want to invest in China’s stable business sector can talk about legislation matters with our Chinese lawyers.
China, the world’s biggest importer by 2022
For each year in the past decade, China registered 6% points higher than the USA regarding the annual average import evolution. According to the statement revealed by CICC (China International Capital Corporation) which sustains that if this sector normalizes by 0.15% until 2022, China will be crowned as the biggest importer on an international scale. Known nowadays as the world's largest exporter, China can also conquer the other significant sector and that is the import field which recently grew by 21.5% year-on-year due to the stable economy and goods prices.
Because the trading sector offers a wide range of opportunities for both local and foreign investors, the business climate is welcoming and allows individuals set up their companies in a fast manner. The legislation on foreign investments can be explained by our attorneys in China.
A continuous competition between China and USA
Two of the main players of the international trading sector are China and USA. Even if at the moment China collaborates with 41 states compared to USA and its 36 importer countries, there are strong reasons to believe that the situation will balance in the next years. The same report revealed the fact that China will transform into the biggest consumer market, considering the interest for consumer-related items instead of the industrial materials.
Having a solid idea about China’s potential, investors can activate in the country’s significant trading sector. If you want more details in this direction, please feel free to contact our law firm in China.