7. Mainland China
CPA Australia members: 6,500
Overview
With its economy growing 5.4 per cent YOY in Q1 2025, China has the second largest economy in the world and is an economic superpower.
The nation’s success is not just about manufacturing — the digital economy accounted for 10 per cent of China’s GDP in 2023, rising by more than ¥12 trillion (A$2.6 trillion).
Strategic investments include production facilities that use cutting-edge technologies, plus EV manufacturing and green energy.
Major sectors
- Manufacturing
- Services
- Agriculture
Key business attractions
With over 1.4 billion people and a growing middle class, China has one of the world’s largest markets.
In terms of output, China leads, producing 35 per cent of the world’s manufactured goods — more than the next six nations combined. This means there is a strong, mature supply chain.
Multiple special economic zones and free trade zones offer tax breaks and simplified regulations, all backed up by a large, skilled workforce and advanced infrastructure.
Skills in demand
- Finance
- Private banking and wealth management
- Compliance management
Local insight
Collin Jin FCPA, Deloitte China audit and assurance innovation and digital services leader, and president of CPA Australia’s East and Central China Committee, says that despite geopolitical challenges and economic uncertainties, China remains a compelling market for global businesses to prioritise in their mid-term expansion strategies.
“China’s robust infrastructure, comprehensive industrial ecosystems and vast market potential create a strong foundation for growth,” Jin explains. “In recent years, the nation’s fast-growing digital economy and increasingly diverse, inclusive business environment have attracted global enterprise and talent.”
Jin highlights further drivers of opportunity, including supportive policies and the rapid advancement of technologies such as generative AI and large language models in the market.
When conducting business in China, it is important to be punctual and prepared, prioritise relationship building, respect hierarchy and seniority, and master indirect communication while leveraging digital etiquette, Jin says.
Be careful not to embarrass or disparage others publicly, or rush the process by overlooking small talk, he advises.
