Perhaps it’s the intense population growth, with numbers reaching the 1250 million mark. Or it could be the target markets waiting to be harvested by the savvy investor. Whatever the reason, China is attracting serious international business opportunities. Here are three major ventures taking the plunge.
Despite a history of Chinese indifference to United States financial interests in the mainland, a new trend of international business opportunities has opened Asian doors to American ventures. Riding this new wave is three major players in the financial and entertainment industries. Bank of America, Harley-Davidson, and gambling mogul Stephen Wynn have all made major investments in Chinese markets that will ensure their stability both at home and abroad.
International Business Flocks to China
- Bank of America. Touted as the largest investment by a foreign financial firm, Bank of America has bought a 9 percent stake in the state-owned China Construction Bank. As a term of the deal, BOA will provide expertise in risk management, credit cards, and international consumer banking.
- Harley-Davidson. This automotive cultural mainstay has opened a showroom in Beijing. Despite Chinese regulations prohibiting motorcycles inside the city limits, Harley-Davidson will market heavyweight motorcycles through a gradual entry business strategy aimed at those with disposable income.
- Macau Gambling District. What once was a second-rate tourist attraction for gamblers is transforming into a global tourist destination to rival Las Vegas. Featuring luxury hotels, resorts, shows and convention centers, Macau will bring in billions of dollars in international tourism.
Why China? Radical Changes
One reason that China is experiencing such a radical influx of international business bids is the acceptance of foreign efforts by the national government. For many years, fears of liberal cultures invading nationalist ideals kept the door shut to opportunity.
The China of today is seeking to strike a balance between conserving Chinese traditions while allowing global participation in its economy. This flexibility can only mean growth and stability for all stakeholders.