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The Warsaw Voice » Business » November 28, 2013
Business & Economy
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China Calling
November 28, 2013   
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Until several years ago, China was perceived mainly as one of the largest exporters in the world. The Chinese economy was primarily driven by sales of enormous quantities of inexpensive products to other countries, especially those in the West. Today, investment and consumption are increasingly becoming the key drivers of China’s economic growth, resulting in rapidly increasing imports of different kinds of goods to China. Economists from HSBC bank predict that the income of the average Chinese employee will increase sevenfold by 2050. The growing incomes are changing the preferences of Chinese consumers. People in China will be spending more money on household appliances and audiovisual equipment, furniture, clothes and entertainment as well as healthcare and social security.

At the same time, China is heavily investing in infrastructure. The Chinese authorities have announced that in 2013, they will spend the equivalent of around $73 billion on its transportation, energy and housing sectors.

China is also opening up to the world and foreign companies, allowing the country to present many business opportunities to enterprises from abroad in terms of both consumer goods and capital. Here is where Polish exporters could shine, seeing how they have been gaining recognition among international buyers and landing contracts for deliveries of transportation equipment, turnkey production lines and other technology used in production and transportation. Buyers from different corners of the world have also been increasingly appreciative of Polish consumer goods such as food, household appliances, furniture and cosmetics. All of these could also appeal to buyers in China. If Polish companies take this opportunity, they can radically increase Polish exports to China which, in turn, could become one of the largest markets for Polish companies.
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