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SHIFT: The Chinese economy is shifting to a consumer-driven model. Photo: iStockphoto/YM German

Every business needs a ‘China strategy’

China is one of the great economic growth stories of the past 30 years. Currently undergoing a period of significant change, its economy is shifting away from the traditional investment and export-led model, to a more advanced economy where services and consumption play a much larger role.

Despite volatility following a cut in interest rates and a slight decline in economic growth, China still remains the world’s second largest market; and its economic shift is opening a window of opportunity for Australian businesses.

The Chinese government’s five-year social and economic plan outlines huge growth strategies for the Chinese market, as it seeks to source inbound investment from regions including Australia. The positive impact of this can be felt across a number of industries and services in Australia, including property, agriculture, education, resources and technology. 

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