Chinaccess

"If you are not in China, you are really not in the game!"

The economy of the People's Republic of China is the second largest in the world after the US with a GDP of $10.21 trillion (2006) when measured on purchasing power parity (PPP) basis. It is the fourth largest in the world after the US, Japan and Germany, with a nominal GDP of US$2.527 trillion (2006) when measured in exchange-rate terms. China has been the fastest growing major nation for the past quarter of a century with an average annual GDP growth rate above 10%.China's per capita income has grown at an average annual rate of more than 8% over the last three decades drastically reducing poverty, but this rapid growth has been accompanied by rising income inequalities. The country's per capita income is classified as low by world standards, at about $2,000 (nominal, 86th of 179 countries/economies), and $7,800 (PPP, 107th of 179 countries/economies) in 2006, according to the IMF.

Why China?

FASTEST GROWING ECONOMY
China is now the 2nd largest economy in the world and continues to grow at a 10% rate annually.
ECONOMIC REFORMS
A deep and gradual economic reform gives way to new business opportunities.
POPULATION
Welcome to the "world's biggest market" with more than 1.3 billions consumers living in 34 provincial – level administrative areas with their own character, languages, traditions and economic profiles.
MARKET OPPORTUNITY
A technological stronghold in the country can in time become a beachhead for expanded business development and marketing activities in China.
HUMAN RESOURCE AVAILABILITY
The university system in China is projected to produce 5m graduates in 2006, sharply up from 3.5m in 2003. Number of graduates has more than doubled in the past ten years.
GEO-POLITICAL DIVERSIFICATION
Spreading offshore activities to different countries helps protect from political and business risk, fluctuating currencies and other changes.
VENDOR DIVERSIFICATION
Maintain more control, foster competition and spur performance by working with more than one outsourcing vendor.
COST ADVANTAGE
China's costs are typically 20-30% lower than India and much more resistant to the kind of wage inflation and employee turnover that India is experiencing.