Since initiating market reforms in 1978, China has shifted from a centrally planned to a market based economy and experienced rapid economic and social development. GDP growth averaging about 10 percent a year has lifted more than 500 million people out of poverty. All Millennium Development Goals have been reached or are within reach.
With a population of 1.3 billion, China recently became the second largest economy and is increasingly playing an important and influential role in the global economy. With their continued economic growth and development, the country is a popular solution for multinational corporations requiring regional headquarters. Indeed, any business with a global focus will likely have China on their radar – whether it be for the production of goods or as a vast new market to sell into.
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