Fastest growing business sectors

Fastest growing business sectors

As more and more western companies and investors look east for investment opportunities, it is the perfect time to take a closer look at China's most rapidly expanding industries. China's dynamic economy and increasingly influential financial market may well dictate the future of global business. Here is a brief guide to where most of its money is being generated.

Food and beverage

With a population of more than 1 billion people, it should come as no surprise that there is plenty of money in food production and provision in China. As the economy soars and the middle class grows, demand for speciality foodstuffs, foreign cuisine and imported food brands is rising. This has been helped along by a number of food scares related to many of China's home-grown foods. So, if you work in the food industry, then China represents a massive potential area for growth and investment, yet it is not an easy market to enter. Given the sheer size of the country, brand recognition can take time and supermarket shelf space is priced very high.


Again, given the sheer number of people in the country and the populations increased wealth, it is obvious why healthcare is such a growing industry. With much government support promised in the current five year plan, private hospitals, prescription medicines and medical equipment are all growing sectors. Though foreign investment will play a big part in this, it won't be a clear and easy path for even recognised foreign companies looking to make their mark in China. Foreign medical devices are generally considered more expensive than their Chinese equivalents and this perception may become more vivid as the government makes high quality healthcare more affordable for its citizens. Whatever happens, it is 100% that this sector will keep growing, mainly because it has to. There are now 185 million senior citizens in the country and that figure will only rise higher in the near future. Caring for all those people as they go through their elderly years will mean big business for somebody.


Once again, we find the increasingly large middle class dictating what industries grow and decrease in China. As families find themselves with more disposable income, the availability of private education becomes more important. Whether fair or unfair, there is a perception amongst certain elements in Chinese society that the standard system is not doing enough to educate children to western standards. This has led to a call for more high quality fee-paying schools for the children of people who can afford them. The sector has responded by ballooning in size, with private education set to reach a market size of $102 billion this year. This includes after school tutors, private third level academies and adult education, a pretty hefty proportion of which is based in the English language. That last little fact means western companies have the upper hand in his market.

Green technology

It is not secret that there is an issue in some Chinese cities with pollution. Once again, as the citizens become more affluent they become more vocal about their rights to clean air and food or, at least, their vocalism becomes harder to ignore. In response, the government has dedicated a vast chunk of its most recent five year plan to greener technology and industrial practices. With investment in clean energy up 20% from last year and much more cash pouring in, any company that can help provide clean water, solar energy or decreased waste may find a bountiful market in China.

China - biggest brands

China - biggest brands

If you really want to figure out what makes the Chinese economy tick, then learning about its biggest brand names is a good place to begin. Here we list some of the major players in China's rapidly growing economy.

China Mobile

A telecoms brand, China Mobile is one of the world's largest providers of wireless services. As the middle class grows, goods such as phones and broadband services become more and more in demand and China Mobile is spearheading that trend.


Since 1984 the Industrial and Commercial Bank of China has been a powerful force in the Chinese financial market. Its recent growth has been spurred on by a determined expansion into foreign markets. Thanks to its state funding (it is one of the four major government run banks), its financial clout is pretty intimidating. It owns 13% of all Chinese loan products and 15% of all Chinese deposits and, with more than 16,000 branches across the nation, it is not getting smaller anytime soon.

China Construction Bank

Another state run banking enterprise, CCS is the go-to supporter for any form of infrastructure project in the country. With 12% of the nation's loans, it is one of China's most trusted creditors.


Think of Google. Now think of Google in a world where no other search engine is allowed to exist. That's about the best way of understanding Baidu, who claim 79% of the search engine market in China. The world's 3rd fastest growing company, Baidu dominates the technology scene in its home country despite being virtually unknown outside its borders.


Tencent is China's most prominent digital communication enterprise, offering customers a plethora of online tools and services. Its catalogue includes web portals, games, chat applications and much, much more. Plus it is only getting bigger, as evidenced by its recent partnership with Disney, which will allow Tencent to distribute animated Disney content through its social networks.

Agricultural Bank of China

The third state-owned bank on our list, the ABC is mainly responsible for funding small and mid-sized companies in rural China. Though it does not have the creditor power of the above mentioned banks, it is hugely influential in the agricultural sector for obvious reasons.

China Life Insurance

Again we see China's growing middle class' influence over what market sector's become more powerful. More income means more people investing in things like life insurance. With the advertising power of spokesperson Yao Ming (China's most famous ex-NBA star), China Life is considered the most recognised life insurance company, just edging ahead of Ping An.

Bank of China

Yes, Bank of China is the fourth of the big four state owned banks to get on our list. Considering they are funded heavily by the government, it should come as no surprise that these massive financial powerhouses are so influential in the Chinese economy.


Though not traditionally a nation of heavy drinkers, China has recently begun a love affair with alcohol that shows no signs of dissipating. Though wine is the tipple of choice for many, baijiu, a high volume, clear liquid little known outside of the country, is also very popular. Moutai is its most famous producer.


Finally, we have Sinopec, an Oil and Gas provider based in Beijing. With more foreign partnerships expected in the next few years, Sinopec will only grow more, despite the government occasionally reducing its income by forcing down the energy prices.

Top Destinations in China

Top Destinations in China

Over the last few decades, since the beginning of reform and opening, China has become one of the most-watched and hippest tourist destinations in the world. Likewise, tourism in China is one of the fastest-growing markets in world and has greatly expanded over the past years.

Indeed, with over 55 million overseas in 2010, in 2015 approx 150 million, China is the third most visited country in the world. According to the report, foreign exchange income was 45.8 billion U.S. dollars, the world's fourth largest in the same year. Meanwhile, the number of domestic tourist visits totaled 1.61 million.

All in all, tourism is a relevant industry in China - its tourism revenue reached $ 185 billion in 2009 - and this is also due to its touristic values such as History, architecture, food, beauty and nature. Therefore, here are the top visited cities in China:

1) Beijing is the most visited city in the country. As the capital of the People's Republic of China, Beijing is not only the heart of the nation's politics, culture and international intercourse, but it is also one of the six ancient capital cities in Chinese history; therefore, it is home to relevant sites such as Forbidden City, Temple of Heaven, Summer Palace, The Great Wall, Ming Tomb, Tiananmen Square, Hutong and Yashow Market.

2) Shanghai comes second in the list of most visited cities in China but comes first in size. Indeed, this magnificent city is the largest metropolitan area in China and is situated in central-easter China, facing the East China Sea. Some of the sites that attract tourists include Shanghai Jade Buddha Temple, Shanghai Bund, Shanghai Xin Tian Di, Shanghai Oriental Pearl TV Tower, Shanghai Yuyuan Garden and Shanghai Huangpu River.

3) China's third most visited city reflects China's worldwide relevance in historical value. With over 3,100 years of history, Xian is one of the oldest cities in China. Tourists from all over the world flock to Xian to travel in time and admire the mysticism of China's ancient civilisation. Some of its most relevant attractions include Terra-cotta Army, Banpo Museum, Shaanxi Provincial Museum, Xian Great Mosque, Huaqing Hotspring, City Wall, Big Goose Pagoda and Forest of Stone Steles Museum.

4) Bordered by the Li River, Guilin is the most beautiful place in China. Both overseas and domestic tourist flock to Guilin attracted by its famous natural views, such as green hills, featuring rockeries, clean water, unique caves and stones of many shapes. The local colour is enhanced by the many ethnic minorities that inhabit the place. Some of its most relevant attractions include The Li River, The Reed Flute Cave, Seven Star Park, Guilin Folded Brocade Hil, Fubo Hill, Elephant Trunk Hill, Fubo Hill, Solitary Beauty Hill, Longji Terraced Field in Longsheng, Fengyu Cave in Lipu County Guiline, among others.

5) Some of the others popular cities include Hangzhou known as Heaven on Earth due to its beautiful natural scenery. Its most famous attraction is the city's West Lake, bordered by numerous temples, pagodas, gardens and artificial islands within the lake.

6) Chengdu - where the giant pandas are the major attraction - is the sixth most visited city in China.

7) Huangshan, seventh most visited city in China, is famous for its magnificent beauty. Some of the most important sites include Tunxi Ancient Street, Xidi and Hongcun Ancient Villages, Tangyue Memorial Archway, Flower Mountain and Enigma Caves.

Beijing influential

Beijing influential

Beijing, 8th most influential city in the world. According to the latest study by Forbes, Beijing ranks among the top 10 most influential cities in the world. The capital of the People's Republic of China and Sydney tied for the eighth spot.

Forbes also assessed that the Chinese cities Shanghai and Beijing have been gaining influence over the past years and forecasted they might move up in the list of most influential cities in the future.

The study shows that size does not matter anymore, as the Chinese capital came ahead of the country's largest metropolitan area Shanghai. We ranked China's capital eight, ahead of Shanghai (19th) because with the advantage of being the country's all-powerful political center, Beijing is the headquarters of most large state-owned companies and is home to the country's elite educational institutions and its most innovative companies, the report said.

Although Sydney only has 4.5 million residents, significantly less than Beijing's 21 million, the Australian city tied with the Chinese capital due to its high level of foreign investment and 15th ranking on the Z/Yen Group's 2013 Global Financial Centres Index, among other factors.

London still ranks first as the most influential city in the world, even after more than a century of imperial decline, the analysts at Forbes stated. Despite describing the United Kingdom as a second-rate power, the analysts put London at the top of its power list, saying the city's unparalleled legacy as a global financial capital still underpins its pre-eminence.

"A preferred domicile for the global rich, London is not only the historical capital of the English language, which contributes to its status as a powerful media hub and major advertising centre, but it's also the birthplace of the cultural, legal and business practices that define global capitalism," it said.

New York, which came in a close second in the study, is home to most of the world's top investment banks and hedge funds, and the massive stock trading volume on the city's exchanges. New York is followed by Paris and Singapore in the list, which signals a shift of power to savvy cities, rather than the largest or fastest growing.

To determine the most influential cities, John Korkin, urban geographer Ali Modarres, analyst Aaron Reen and demographer Wendell Cox graded 58 metropolitan areas in in eight categories: the amount of foreign direct investment they have attracted, the concentration of corporate headquarters, how many particular business niches they dominate, air connectivity, strength of producer services, financial services, technology and media power and racial diversity.

Of the world's 10 most populous cities, only Tokyo, New York and Beijing made the top 10 for influence, showing that while in the past century the greatest global cities were generally the largest and centres of the world's great empires, today size is not so important.

Among the cities on the rise, there's another Chinese city, which is Shanghai. However, these data is also relevant for the region as many of the cities which are gaining influence are in Asia, shifting the traditional influence from European and American cities to Asia-Pacific.