List of Businesses in China

List of businesses in China: There are numerous business opportunities in China, establishing it as a global economic center and an investor’s paradise. Operating a business in China can be a fulfilling experience for any foreigner because, with a vast population of 1.3 billion, China provides a readily accessible market for businesses, which also boasts a large consumer base. Foreign investment in China can be pursued through various investment channels. The optimal investment framework for your business is dictated by a range of factors, including its intended activities, sector, and investment scale.

In this article, we are going to discuss the List of businesses in China in detail.

List of businesses in China – Overview

With a vast consumer base, China also boasts diverse opportunities across various sectors including agriculture, technology, manufacturing, automobiles, hospitality, and oil and gas, all of which contribute significantly to the country’s robust economic growth. Thanks to its favorable business environment and emphasis on youth empowerment, many foreigners are drawn to establishing companies in China. Another compelling reason for company registration in China is the abundance of skilled talent available, facilitating rapid expansion for businesses in the country. The young workforce is highly skilled and motivated, offering Chinese businesses access to enthusiastic and driven employees.

Technology	Software development, online selling platforms, electronic hardware manufacturing
Manufacturing	Automobiles, electronics, textile production, machinery production
Retail	Grocery stores, department stores, specialty shops
Finance	Banks, insurance companies, investment firms
Real Estate	Property development, construction companies
Healthcare	Hospitals, pharmaceutical companies, medical equipment manufacturers
Tourism and Hospitality	Hotels, travel agencies, restaurants, entertainment venues
Agriculture	Farming, food processing, agricultural technology companies
Education	Schools, language learning centers, educational technology startups
Energy	Renewable energy projects, oil and gas exploration, power generation facilities
Logistics	Freight companies, warehouses, transportation services
Automotive	Car dealerships, auto parts manufacturers, car rental services
Environmental	Waste management, pollution control technologies, environmental consulting
Entertainment	Movie production companies, gaming studios, theme parks
Consulting	Management consultants, legal services, marketing agencies
Fashion	Clothing stores, fashion design studios, luxury brands
Food and Beverage	Restaurants, food processing plants, beverage companies
Telecommunications	Telecom companies, internet providers, telecommunications equipment manufacturers
Construction	Infrastructure projects, building material suppliers, architectural firms
Financial Technology	Fintech startups, online payment platforms, blockchain companies
Healthcare Technology	Healthtech startups, telemedicine platforms, medical software developers
Biotechnology	Biopharmaceutical companies, genetic engineering firms, biotech research institutions
Renewable Energy	Solar power farms, wind energy projects, biofuel production facilities
Textiles	Textile mills, clothing factories, fabric wholesalers
Mining	Coal mining companies, metal ore extraction, mineral exploration

Types of Business in China

Here are the various types of Businesses in China as mentioned below.

Business Structure	Description	Statutory Requirements
Representative Office (RO)	Functions as a representative of a foreign company in China without legal entity status. Limited presence due to lack of legal identity.	– Foreign company must have 2 years of operations. – Lease agreement for operating in China. – Registration with Public Security Bureau. – Local registered office address.
Wholly Foreign-Owned Enterprise (WFOE)	Allows complete foreign ownership, offering flexibility and control. Subject to accounting and tax obligations like submitting annual audit reports and filing corporate income tax.	– Varies depending on business activity. – Typically handled by consulting firms like Tetra Consultants.
Joint Venture (JV)	Contract-based partnership between two or more companies. Utilizes existing networks in China. Subject to similar requirements as WFOE.	– Similar to WFOE requirements.
State-Owned Enterprises (SOEs)	Conducted on behalf of the government, operating in strategic sectors like aerospace and energy. Restrictions on foreign participation exist.	– Compliance with regulations in strategic sectors.
Limited Liability Company (LLC)	Separate legal entity from directors and shareholders. Can transact and be sued in its own name. Requires minimum of 1 director and shareholder. No residency requirement. Ownership share depends on subscribed capital.	– Minimum of 1 director and 1 shareholder. – No residency requirement. – Registered agent and address. – Services provided by consulting firms like Tetra Consultants.
Sole Proprietorship	Single-person operated business. No liability protection. Requires the owner to be a resident of China.	– Owner must be a resident of China.
Partnership	Co-owned businesses, divided into general and limited partnerships. Limited liability depends on partnership type.	– Varies based on partnership type. – Bank account required for financial management. – Corporate bank account opening services available through consulting firms like Tetra Consultants.

Businesses in China – Major Statistics

In 2023, the Industrial and Commercial Bank of China (ICBC) emerged as the leading Chinese public company in terms of profitability, boasting a profit of around $52.5 billion. By the end of 2022, China boasted approximately 169 million registered companies, comprising 52.8 million enterprises and 32.8 million corporate entities with legal status. In 2020, the nation hosted over 140 million small and medium-sized enterprises (SMEs), which made substantial contributions to the economy: they accounted for over 60% of the country’s GDP, 50% of tax revenue, 79% of employment opportunities, and 68% of exports. Here are the The 10 Biggest business by Revenue in China as mentioned below.

No.	Businesses	Revenue (in Billion USD)
1.	Copper Ore Mining in China	$13,897.9
2.	Building Construction in China	$2,797.4
3.	Online Shopping in China	$2,547.5
4.	Real Estate Development and Management in China	$2,086.6
5.	Mail-Order & Online Shopping in China	$2,067.5
6.	Residential Real Estate in China	$1,709.0
7.	Bridge, Tunnel and Subway Construction in China	$1,563.5
8.	Software Development in China	$1,331.3
9.	Steel Rolling in China	$1,296.4
10.	Oil & Petroleum Refining in China	$1,007.1

Biggest Industries by Revenue in China in 2024

Here are the Biggest Industries by Revenue in China in 2024 as mentioned below.

No.	Industry	Revenue for 2024 (in Billion USD)	CAGR (2019-2023)	Expected Growth in 2023 (%)
1.	Copper Ore Mining in China	$13,897.9	10.4%	23.1%
2.	Building Construction in China	$2,797.4	4.4%	4.7%
3.	Online Shopping in China	$2,547.5	17.0%	17.9%
4.	Real Estate Development and Management in China	$2,086.6	-3.5%	-6.1%
5.	Mail-Order & Online Shopping in China	$2,067.5	16.9%	16.2%
6.	Residential Real Estate in China	$1,709.0	-3.6%	-6.6%
7.	Bridge, Tunnel and Subway Construction in China	$1,563.5	8.4%	6.5%
8.	Software Development in China	$1,331.3	6.0%	5.7%
9.	Steel Rolling in China	$1,296.4	1.1%	-7.4%
10.	Oil & Petroleum Refining in China	$1,007.1	2.8%	0.7%

Business Trends and opportunities in China

A burgeoning middle class also implies an increase in discretionary income. Here are a few emerging trends in the Chinese market:

Expanding Cross-Border E-commerce (CBEC)

China’s recent economic zones have prioritized CBEC. According to the Ministry of Commerce, CBEC trade between China and Central Asia surged by 95% year-on-year in 2022. Leveraging this, you can strategize expansion into new markets based in one of the 152 CBEC pilot zones across regions such as Beijing, Shanghai, Guangdong, Zhejiang, Jiangsu, Shandong, and Fujian, which offer VAT and consumption tax exemptions.

Rapid Aging Population

The World Health Organization (WHO) projects that by 2040, 28% of China’s population will be over 60 years old. This demographic shift, coupled with increased disposable income, has fueled demand in sectors such as travel, wealth management, and premium healthcare, presenting opportunities for your business to tap into.

Travel and Tourism

The ASEAN-China Free Trade Agreement (ACFTA) has granted greater market access to travel agencies and tour operator services. With the World Travel and Tourism Council (WTTC) forecasting over 150% growth in 2023 and expecting it to contribute 14% to the country’s economy by 2033, the sector is poised for significant expansion, presenting a lucrative opportunity.

Engineering and Integrated Construction

Businesses operating in these sectors stand a chance to thrive in the market, especially with the 14th Five-Year Plan in play. Additionally, under the ACFTA, the qualification assessment for your company will now take into account your performance in both your home country and China.

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FAQs – List of Businesses in China

How many businesses are there in China?

At the end of 2022, around 169 million market entities were registered in China, of which 52.8 million were enterprises. The number of corporate enterprises that have their own legal entity reached 32.8 million in 2022.

What businesses operate in China?

China is an important source of revenue for many multinational apparel companies like Nike (NKE), Gucci, and Abercrombie & Fitch as well. Other notable consumer goods companies with sales in China include Avon, Colgate-Palmolive, Tyson, Nabisco, Kellogg’s, Danone, Conagra, and Tupperware.

What is the top 3 brand in China?

The top-selling brands in China include Alibaba, Tencent, Huawei, ICBC (Industrial and Commercial Bank of China), and Moutai (Kweichow Moutai Co.).

What is the largest business in China?

The Industrial and Commercial Bank of China was both China and the world’s largest company by assets in 2021, with over US$5.5 trillion in total assets.

What is China’s most profitable business?

This statistic shows ten largest Chinese public companies listed in Forbes Global 2000 annual ranking of 2023, broken down by profit. That year, Industrial and Commercial Bank of China (ICBC) ranked first among Chinese public companies with a profit of approximately 52.5 billion U.S. dollars.

Which Indian brand is famous in China?

Tata Motors. The company operates in China through Chery Jaguar Land Rover Automotive Co Ltd (CJLR), which is a 50:50 joint venture between China’s Chery Automobile Company Ltd and the Indian automaker-owned Jaguar Land Rover (JLR). China accounts for 25-30 percent of JLR’s total sales.

Why is China good for business?

Market stability: China has been growing at a steady rate for over four decades, so it’s a reliable, stable destination for expansion. A skilled workforce: If you need talented, competent workers and specialist manufacturing know-how, China is the place to be.

Which industry is booming in China?

China’s largest economic sector is its services sector, accounting for 52.8% of the country’s GDP in 2022. China’s services sector encompasses numerous sub-industries such as professional services, healthcare, entertainment, information services and the arts.