Full steam ahead for China
China will continue as one of the world’s most leading markets, according to Tricor Corp, a business expansion consulting firm.
"As the world’s second-largest recipient of foreign direct investments, China will continue to hold its position as one of the world’s most leading markets for foreign trade and investment, especially in financial services, information technology and FMCG sectors, said Zhang Hailiang, deputy CEO for Chinese mainland.
Meanwhile, the Belt and Road and Guangdong-Hong Kong-Macau Greater Bay Area initiatives are paving the way for companies to enjoy long-term, structural growth in Asia, Zhang said.
In global scope, China has turned its position from "manufacture base" to "a big consumption market" with booming consumption and demand for FMCG or Fast Moving Consumer Goods, Tricor said.
After the acquisition of Richful Deyong in May 2019, Tricor accelerated expansion in China and expects to achieve "double digit growth" mainly fueled by the Chinese market.
On the Chinese mainland, it now has 500 employees in 13 cities.