The seven secrets behind China’s success
China had the bad reputation of copying everything and everybody. But after the year 2000, the government decided that it’s time to remove this label and focus on innovation. Over the last decade and a half, the country has been using its billion plus population to power the economic growth. In this article, you will learn what are the seven secrets that made China the global power it is today.
1. The Government
Although the western media is presenting the Chinese government as a bad thing, the reality lays elsewhere. The government is focusing all its powers and has remained committed to economic growth and implementing good policy decisions. From the time of Deng Xiaoping, who set the tone, nothing was able to disrupt the flow, including changes in ideology, leadership, and community politics.
2. China’s high rate of savings
The high rate of its savings is another reason why China is so successful. The country concentrates all the salaries paid to workers in just four big banks that are managed by the state. All the money are used by the leadership in key projects, especially in industries. This has made China develop faster and more efficient than any other country in the world. This capital has sustainably funded more than 85% of China’s infrastructure.
3. Smart investments in models and showcasing
The government believes in showcasing its strengths and likes to present itself as an example to all visiting dignitaries. This helps to bring foreign investments into the country and improve the local economy. Zhangjiagang and Shenzhen were developed into great models so that their surrounding area could be sold as a smart investment property to foreign people and investors. This has no doubly improved China’s image, making it a very attractive investment country. A few examples of China showcases to foreigners are the Beijing and Shanghai airports, Pudong Development Zone, and Beijing’s Financial Street.
4. Consistent Marketing
China is consistently pushing forward its biggest selling point: its gigantic market. With a population of over 1,4 billion people, China is the perfect place to conduct business, offering countless possibilities. The Chinese government has organized delegations, exhibitions and hosted conferences to persuade international investors that this is the best place to invest their money, because of the countries open-door policy, its ushering reforms, and its stability.
5. Business above all
China has managed to create several flexible investment zones, high-tech zones, export processing zones and free trade zones. These areas brought along proper infrastructure and tax incentives. This has made China score over other countries in factors such as fast approval of investment proposals and the building of solid infrastructure.
In addition to this, China didn’t allow the big difference in culture, ideology, and political views to affect any business prospects. Everybody is giving primary importance to channels of investment, export, and technology over all other consideration. This is why China is a great place for foreign investment and also for people who want to make a career here.
6. World largest manufacturer
China has taken the lead in the greatest manufacturing nation in the world in 2010 and is widening the lead in 2016. China has since then displaced the US as the largest manufacturing country. This has a particular importance, especially because it is not estimated that it will ever again lose this position. There is a reason why you find on everything “Made in China.” China has become the most significant manufacturing hub and is also providing stable employment to its people.
7. Chinese interests above everything else
The government and China’s leadership is set to promote foreign investments and all sorts of business opportunities that benefit China and the Chinese people. This is why people are starting to consider China as the best place for investment, business, workplace, and workforce.
China has also committed to offering its non-resident citizens that are economically positioned to pour their investments into the country. Thus, more than 60 million people with Chinese origins and who live outside the country strongly contribute with investment and remittances to the country’s economy.
Non-residents are respected and encouraged to participate in the economic activities of their motherland. Because of this, Southern China was able to flourish with the help of these non-resident Chinese.
Photo credit: Loveopium
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