Is China a good place to start a business?

According to the standards of the World Bank, China has entered an upper middle-income country. Even if we conservatively predict that the actual economic growth rate in 2021 will be more than 6%, China will still be among the high-income countries in the next five years. In general, given the rise of a huge middle-income class, China’s retail industry has ranked second in the world, and China’s consumption is about to surpass that of the United States. The Development Research Center of the State Council of China predicts that by 2024, China’s middle-income group will reach at least 560 million people. In order to fully release China’s consumption potential, China’s social security system reform is accelerating, the fertility policy has been relaxed and other policies to improve people’s livelihoods have been introduced, and the rise of new urban residents, silver-haired people and small urban consumers will dominate the Chinese consumer market.