China has always been known for its capability to produce products in masses while maintaining the same level of quality. The electronic products that are produced by China, especially, have created a market for themselves around the world. This has been one of the reasons why the economy of this country has grown so fast. Officially known as the People’s Republic of China, this country is a very important part of the East Asia cluster and has contributed tremendously for the economic growth of the region. The most amazing thing about the people of this country is their ability to adapt to different situations.
The entire country covers an approximate 9.6 million square kilometers of area and this expanse of land; the main economic activities that take place are manufacturing, trading and agriculture. China has made a lot of progress in the tertiary sector as well and has become a hotspot for investment by most of the biggest hospitality chains around the world. Tourism is also a very important sector that is promoted in China. Amongst all these, the manufacturing sector in particular, has been a major contributor for the economic growth of the country. The automobile sector alone has provided thousands of people with employment opportunities and the automobiles produced here are exported to various other countries. The technology that is used by the companies belonging to this sector is state of the art which contributes to the superior quality that is maintained. Apart from manufacture, there is an immense scope for exporting of automobiles as well from China. Purchasers are available from most of the neighboring countries. Apart from the Asian continent, Africa and the United Kingdom as well as Russia show promise of a good market for car exports.
China is said to have one of the most complex economies in the world. Over the last two hundred years it has gone through various cycles of prosperity as well as decline. During the last decade, the government has made some very good decisions about bringing in financial and economic stability which have shown remarkable results. It is also the largest economy in the world. Today, it is fastest growing economy and three out of the top ten companies in the world are Chinese. Companies in this country have progressed across different sectors, like power utilities, automobiles and even information technology. Because of this, China has today become the world’s largest importer and exporter. It has become a superpower, especially in the Asian region and it is a power to be reckoned with. Its multilateral and bilateral ties with some of the biggest economies like the UK and Africa make it an ideal destination for investment.