Bringing the World to China
China at the start of the 21st century can claim to hold a position on the world stage enjoyed by Britain in the 19th – the People’s Republic is the undisputed ‘workshop of the world’, and its swelling output of manufactured products has seen the country grow to become the world’s fourth largest economy. Included in this swift expansion has been tyre industry production – recent figures indicate that China now produces some 330 million tyres annually. Of this amount 235 million are radial types, and two-thirds of these are destined for export. However, China has not merely grown as a production site for meeting the needs of global markets. The Chinese are quickly becoming a nation of consumers, and their appetite for vehicles is voracious. While only six Chinese out of every hundred own a car, research conducted by AC Nielsen indicates that China contains more people who aspire to own a car, but currently do not, than any other country. The outlook for tyre sales within China is thus good, and domestic demand is tipped to surpass export figures in about five years’ time. Whether buying or selling tyres, China is a country that provides many lucrative business opportunities.