China represents a $250 billion market for US companies today, according to estimates of the U.S.-China Business Council. McKinsey & Company estimates that 76% of China’s urban population (550 million people) will be considered middle class by 2022 making it the 3rd-most populous country in the world with more than 160 cities with populations of at least 1 million.
Additionally, the e-commerce opportunity should not be missed with Chinese consumers buying $589.61 billion (+33.3% from 2014) worth of goods, according to the National Bureau of Statistics in China, compared to only $341.70 billion spent online in the US in 2015. The same year, China’s 500 largest e-retailers grew their combined online sales by 60% to $198 billion. Continue reading Distributing your Brand in China