The majority of the products that we use in our daily life come with the tag “Made in China”. You may wonder why everything that we use comes from this country. The real reason is over the last couple of decades this Asian country has developed its manufacturing capability enormously. From fashion apparels to electronic products, toys to solar equipment- exporters from all over the world source products from China.
Let’s check out the reasons behind the global manufacturing dominance of China-
Large domestic workforce- China is home to approximately 1.35 billion people, which makes it the most populous country in the world. It is the only country that has cleverly utilized its population for its prosperity. Cheap, efficient and young workforce of China is capable of producing any type of products. Manufacturing experts see a variety of areas as important for low-cost manufacturing competitiveness of China such as young populations, low labor costs, a supportive policy environment, good quality infrastructure, availability of engineers, a minimum level of education for all workers, economic growth and a large internal consumer market.
enormous resource- The country has about 12 percent of the world’s mineral resources, with only the United States and Russia possessing larger proportions. There are sizeable reserves of coal, iron, tin, copper, lead, zinc, molybdenum, tungsten, mercury, graphite, antimony, magnesite, fluorspar, and other minerals. China has a vast territory, with abundant natural resources and diverse types of land resources. Its waterpower resources rank first worldwide. It has abundant mineral resources, with a great variety of minerals. Apart from resources such as water, air, sunlight, forest area or agricultural land, which exist as separate entities, other resources such as metals, ores and primary energy resources have to be extracted from the soil manually to make them usable. China is one of the few countries in the world with vast resources featuring both enormous quantities and a high degree of completeness.
Stable government- Political stability helps in making economic decisions and reducing the risk of imbalance in the economy. Despite the fact that China had suffered tremendous economic and human losses due to political instability, now you can say this is the country with the most stable government. Political stability and economic development are deeply interconnected and the firm governance accelerated the growth and progress of China.
Helpful sourcing community- Apart from the assistance provided by the government to boost the manufacturing industry of the country, over the years China has developed friendly sourcing community that is renowned for providing valuable assistance to the foreign businesses interested in China sourcing. No matter if you want to import a large chunk of products or a small amount of goods, you are surely going to find a reliable, dependable and friendly community of Chinese sourcing agents.
All the above mentioned reasons are responsible for making China the ideal country for sourcing products and selling them in your home market.