China has one of the fastest-growing middle classes in the world. The country has evolved to become a dynamic economy, making it a hot prospect for international companies.
It’s more or less like Japan in the 90s and with so much disposable income in people’s pockets, there’s a wide range of opportunities to capitalize on.
Here are some of them:
- Training Online
Chinese parents are always looking for ways to make their kids as competitive as possible on a global scale.
No doubt the Chinese education system is quite good. But there are certain skills that you don’t learn in school. Chinese parents will pay you to teach their kids these skills.
Online education is now one of the fastest-growing sectors in the country. According to the China Online Education Report, the entire Chinese online training industry has hit a value of nearly 84 billion Yuan.
Growth ever since has been exponential, especially with the entrance of firms that help online course providers with marketing in China.
- Teaching English Online
As China starts to open up to the world, learning English has become a huge necessity.
The importance of English has also been recognized by the Chinese government. As a result, learning the language is now mandatory in all Chinese schools for 9 years.
This has in turn increased the demand for professional English tutors massively. middle-class Chinese parents don’t also mind spending money to ensure their kids succeed in learning English.
The good news is that you don’t even need to be in China to teach English. You can do this through a series of online classes.
- Selling Imported Food
China exports a lot of exotic food to other parts of the world. But in recent years, the country has also become more receptive to food from outside its borders.
Eating habits are changing especially among the middle class. People want to try out food from other parts of the world and they don’t mind paying for it.
This opens up great opportunities for people involved in the food business to export to China. And with the advent of e-commerce, this can be done quite easily.
- Starting a Fashion Brand
China has a huge consumer market because of its large population. In recent years, Chinese people have developed an appetite for western fashion brands too.
While this is a massively competitive space, companies that manage to distinguish themselves can sell a lot of clothing here.
The Chinese adult garment market has been growing each year and this will continue for a long time to come.
It’s all about positioning your brand creatively to get maximum visibility. After that, you can start reaping off the benefits of the expanding Chinese middle class.
- Making Baby Care Products
The Chinese baby care industry doesn’t have a good reputation.
There have been a lot of reports that baby products made in China may contain toxic substances. This has made parents wary, including those that are based in China.
For this reason, Chinese parents are seeking safer baby care alternatives, especially from western countries. This has created a huge market for baby care products in recent years.