With a population of 1.3 billion, which is over four times that of the United States, and a total land area of 9.6 million square kilometers, which is comparable to the United States, China, in recent years, has been one of the fastest growing economies in the world. While global growth slowed to under 2 percent over the last five years, China's economy expanded by more than 10 percent. Since 2005, China has become the 4th largest economy in the world, forllowing the U.S., Japan and Germany. In 2007, China's GDP was $3.25 trillion with 11.4% of annual grouth rate. Its rapid economic growth has been the result of bold government market reform, massive infrastructure development and extensive foreign investment. In order to sustain such growth, China requires investments, high technologies, services and an international market for its products.

China is considered an emerging market in which companies can introduce new products and services. The importance of China for the U. S. is underscored by the fact that U.S. exports to China increased 28.9%, 22.2%, 20.5%, 32.0% and 18.1% in 2003, 2004, 2005, 2006 and 2007 respectively. In 2007, the total value of U.S. exports to China was $65.2 billion. Not having Included the value of U.S. exports to Hong Kong ($20 billion), China surpassed Japan ($62.7 billion), became the 3rd largest export market of the U.S., following Canada, Mexico.

In the meantime, China's rapidly developing manufactring sectors need the huge U.S. consumer market. China is particularly appealing to manufacturers because of its expansive manufacturing base that offers companies the price advantage to retain their competitive edge. China presents an opportunity for the relocation of production facilities to a country that has a highly educated, motivated and skilled work force, low labor and materials cost, integrated infrastructure and a worldwide distribution capability. U.S. imports from China increased 21.7%, 29.1%, 23.8%, 18.2% and 11.7% in 2003, 2004, 2005, 2006 and 2007 respectively. In 2007, the total value of U.S. imports from China was $321.5 billion. Not having included $8 billion from Hong Kong, China surpassed Canada, became the 1st largest import country of the U.S.

Investors find that China is moving toward a new stage of economic reform and opening the door to foreign capital in key industries in the country for the first time since 1949.

Instead of fearing competition from China, many American businesses are taking advantage of its many opportunities, like Motorola, Microsoft, Wal-mart and many other much smaller firms. The success stories of numerous American businesses in China show the way to strengthen and grow their businesses and turn the seemingly unwelcome changes and formidable Chinese market obstacles into great economic opportunities.