Kiwis Were Shocked After Announcement From China - Questionable NZD Future
Thinking of building a career in China? There are many compelling reasons why working in the Middle Kingdom could be one of the wisest decisions you have ever made. There are also many important factors to consider before making the jump. Read on for everything you need to know about working in China and prospering while doing it.
We are in the 21st century and it is now common knowledge that China is a major international player. So it makes sense that the Middle Kingdom tops the lists of many expats from foreign countries to live and work in.
Members of CLI's Western team have more than 30 years of combined experience working as expats in industries and cities across the country. Through our challenges and triumphs, we have all gained valuable professional experience, grown as individuals, and are grateful to our younger selves for making the decision to work in China.
In China, it is common for almost anyone with a good idea and sufficient motivation to found their own startup or business. Furthermore, the rise of individualism in China has led more and more young people to pursue their career dreams, spurring competition and advancement in industries across the country.
For expats looking to work abroad, a job opening in China is an opportunity to be surrounded by some of the most innovative and energetic minds in the world, with inspiring new projects emerging daily. In both startups and long-standing establishments, many employers look to foreign staff to contribute their unique skills. That could be where you come in.
Why New Zealand Kiwis Should Be Doing Business In China?
China has been a leading destination for companies and entrepreneurs to expand and grow in their field. Exporting goods and services in China has generated massive profits for many investors around the world. Many international companies have taken advantage of doing business in China since it opened to the world. Since the past decades, China has earned its place in international trade from an agriculture-based economy to one of the world's leading technology-driven countries.
Even as economies around the world are struggling due to the Covid-19 outbreak, China is the only major economy to have expanded in 2020, with GDP growth of 6.5% in the last three months of the year. Only those data show the great potential and stability of the Chinese economy.
China as a major world trade center
In keeping with its huge land area and population, China had oriented its growing economy toward international trade. Many Chinese companies understand the importance of adapting to the global market, and even government policies are becoming better and more favorable for foreign companies. It is safe to say that China became a vital factor in international trade and should be valued significantly in all businesses focused on the global level.
China as an innovative landscape
China's fourteenth five-year plan (2021-2025) would improve business environments and develop innovation within the country. Scientific and technological innovation has played a fundamental role in promoting China's economic development. It seems that China has gone from being a major user of technology to a producer of technology, and technological innovation has gradually become a major driving force for China's economic growth. Business innovation can thrive in China more than anywhere else.
China as a low-cost country
While the minimum wage and labor standards have risen over the years, China is still relatively cheaper than most developed countries when it comes to manufacturing. China is undoubtedly a manufacturing powerhouse and has earned the title of world factory, not only because of its low cost. China's strong business ecosystem, low taxes, and competitive currency practices are some of the reasons why the Chinese market is unrivaled.
China as a symbol of work ethic
Chinese culture values hard work and diligence, and it directly affects the job performance of employees. Doing business in China guarantees working alongside goal-oriented professional people who want to excel. China's strict work ethic allows for a good, well-organized work environment, with employees who would work for their benefit, but also for the good of the company they work for.