Macroeconomic drivers

The Chinese market has registered strong growth in recent years averaging an annual GDP growth rate of around 10% over the last five years. Key drivers for this growth include a strong trade balance, increasing FDI and the urbanisation of China’s population which, in turn, has led to greater disposable income and higher consumption.

Growth and development have taken place against a background of increasing economic and market liberalisation marked by China’s accession to the World Trade Organisation (WTO). The shifting of these macro factors is giving rise to greater business opportunities for EU SMEs.

This section provides further information on the political, social and cultural context within which the opportunities available to EU SMEs are arising and within which they will be operating.