The Chinese economy is roughly half that of the United States with a comparable land mass. Following more than three decades of economic growth, fueling an industrial and urban boom, China claims 171 cities with populations of 1 million or more, while the U.S. has nine such cities.
While China’s GDP growth is slowing, it remains among the world’s top performers expected to reach 7.5 percent in 2012, with analysts targeting similar growth in 2013. In response to this growth, U.S. exports to China have increased 468 percent since China’s 2001 World Trade Organization (WTO) entry, and it is likely to maintain its position as the third-largest buyer of American goods after Canada and Mexico in the coming year.
Small and medium-sized enterprises (SMEs) are the leading exporters to China, representing 92 percent of American businesses exporting to China (35 percent of value), with overall export product categories led by machinery, computers and electronics, chemicals, transportation equipment, and waste and scrap.
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» Guide to Doing Business in China
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