As the largest economy and exporter in the world, China plays a prominent role in international trade.
The economy is primarily composed of state-owned enterprises and domestic and foreign private businesses. In recent years, in order to diversify and foster more globally competitive industries, China has renewed support for its state-owned enterprises in sectors considered important to “economic security”. This public sector also employs approximately 63% of the labour force.
China also ranks 14th on the Global Innovation Index but ranks relatively low on the Index of Economic Freedom at 100th.
The country’s top export destinations are the USA, HK, Japan and South Korea for commodities such as electrical and other machinery, apparel, furniture and textiles.
In 2020, the Advisory Board Centre mapped professionals currently serving on Advisory Boards. This assessment identified over 4,000 professionals on Advisory Boards in Hong Kong and China and has projected a 54% growth for the sector in this region.
Research has identified that the Advisory Board sector is emerging, and Advisors exist as a profession in China. As an emerging sector, advisory board professionals may have opportunities in key sectors including – agriculture, mining and manufacturing – and are encouraged to stay open-minded to start-up and emerging industries.
There is a growing opportunity for professionals to increase participation in China, by formalising Advisory Board structures and collaborating on a global scale. As this sector grows, it is important to note that best practice credentials will shift the market from informal to formal Advisory Boards over time.
|Population||1.398bn||Labour Force by occupation|
|GDP by sector||Services||43.5%|
|Industry||40.5%||Global ease of doing business rank||31st|
|Services||51.6%||Global ease of doing business score||85.3/100|