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China Sourcing

With an estimated 1.35 billion inhabitants China is the world’s most populous country. As of 2013, it is the world’s second-largest economy by both nominal total GDP and purchasing power parity (PPP), and is also the world’s largest exporter and importer of goods. The World Bank stated in 2011 that China may become the world’s largest economy in 2030.

Main exports:
In 2009 around 8% of the total manufacturing output in the world came from China. Agriculture: China is the world’s largest producer of rice and is among the principal sources of wheat, corn, tobacco, soybeans, potatoes, sorghum, peanuts, tea, millet, barley, oilseed, pork, and fish. Major non-food crops include cotton, other fibers and oilseeds. Industry: The main categories in % of total exports are Electric & Electronic Equipment (24.3%), Industrial Machinery (19.9%), Textile, Apparel and Garment (8.9%), Iron & Steel products (4.3%), Optical and medical devises (3.3%), Furniture (3.2%), Boats & Ships (2.5%), Automotive (2.4%), Footwear (2.2%), Plastic Products (2.2%), Sport Equipment & Toys (1.8%), Coal & Petroleum (1.6%).

Main markets:
In 2012 China’s main export market included the 27 countries that make up the European Union (EU27), the United States, Japan, and the 10 nations that constitute the Association of Southeast Asian Nations (ASEAN).

Major challenges:
In 2011, the IMF warned that government controlled banks could be building up imbalances that could hamper growth and leave the system “severely impacted”. Forced evictions that resulted from a construction boom and corruption are serious threats to China’s social and political stability. Worsening pollution and increasing costs are as well major issues.

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