Over half of Asian SME leaders think China will rule

04/04/2007  17:07:15

Over half of SME leaders in the Asian pacific region think China will become the worlds largest consumer market within the next decade as offshore companies proliferate, a survey shows.

Offshore banking is set to take off with some 57 per cent of SME respondents said that China will form the largest consumer market, while a further 92 per cent said Chinas market had the greatest growth potential in 2007.

Chinese SMEs will become more competitive according to 71 per cent while 74 per cent were upbeat about the growth of trade volume within the Asian Pacific Region.

The survey was carried out by American logistics giant United Parcel Service (UPS) and published as part of the 2007 Asia Business Monitor in Shanghai on Tuesday.

It questioned SMEs in the Asian pacific region with no more than 250 employees and an annual turnover of $500,000 to $10 million (£250,000 - £5 million).

In recent years the US has become dependent on Chinese growth.

UPS has more than 60 branches on the Chinese mainland.

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