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To succeed in China, foreign companies need to align their China strategy with China’s national strategy. There are some good opportunities for Australian businesses to explore.
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Outsourcing your manufacturing should be a strategic decision to enhance your
international competency and create scales of economy so that you can harness
your financial and human capital to concentrate on your core business and its
competitive advantage.
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China is not just the World Factory, most booming market for resources and
consumer goods and the fastest growing economy in the world with an average
GDP of over 10% in the past decade. It is also the most attractive destination
for foreign investment since China opened its door to foreign businesses in
1978. With China’s access to WTO in 2000, less restriction on foreign
investment, new infrastructure, supply of abundant quality and cheap labour,
there are good opportunities to invest in a quality business or acquire
businesses in China.
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The current realities for Australian firms doing business with China were explored by the Australian Business Foundation in 25 in-depth case studies. The experiences of the case study participants highlight a number of significant issues impacting on business performance for Australian enterprises in China.
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Acquiring or investing in an existing business is a way to quickly establish your own presence in China. You can then leverage its facilities, resources and networks to access the Chinese market or conduct low-cost manufacturing in China and then export to the global market.
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China presents great opportunities for Australian businesses - but there are
threats, such as Intellectual Property protection, that can damage your
business' success in this market. Read more about how to protect your IP in
China.
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