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Exporting your products to China is one way to enter the market, and it may be less risky for your company, too. China has an estimated 200 million middle-class consumers, and it’s adding millions of new consumers who are buying all sorts of consumer products and financial services. A fast-growing middle class, mostly in or near the coastal cities of China, is paving the way for strong selling opportunities. Retailers, financial services companies, and consumer product companies are jumping into the market to aggressively expand their business.

Retailing in China is taking off like a rocket. Soon, sales are expected to reach US$1 trillion. China has more than 20 million retail outlets now. New hyper-markets, supermarkets, department stores, and electronics, appliance, and home décor shops are popping up everywhere in eastern China.

With the explosion in retailing, the China market is witnessing more consumer products and brands (prestigious foreign brands are particularly popular). New types of consumers are emerging with different needs and wants. The markets are becoming more segmented as consumer buying behavior differs from place to place.

Financial services firms are also starting to enjoy some good times. Foreign banking institutions are expanding their capabilities and services. Foreign insurance companies are starting to gain local market share by providing much-needed protection for Chinese consumers. And because the Chinese savings rate is a whopping 50 percent, financial services companies in particular are salivating at the opportunity to tap into Chinese household savings!

Selling to businesses in China is another huge opportunity. Just about every Fortune Global 1000 firm is now doing business there. Thousands of small-and medium-sized foreign companies are present, too. Opportunities for sales of business services to foreign companies operating there include management consulting, human resources, accounting, legal services, real estate, and so on.