China Furniture Industry
China has enjoyed 20 years of rapid economic development ever since it opened its doors to the wider international market. In particular, the furniture industry has made vigorous and considerable progress, and the country is fast becoming an important export base and a world-class location for setting up furniture factories.
Due to large differences in topographies, climates, cultures and business practices throughout the vast country, China’s furniture industry is neither homogeneous nor easy to understand nor predict. Chinese consumer expectations and purchasing behaviors have marked regional variations, particularly for products reflecting cultural and personal tastes.
China’s low labor cost, large consumer market and sharply declining import tariff rates have attracted many foreign furniture enterprises. Business entry into China’s market is, however, a slightly complicated process, and foreign investors sometimes find themselves face-to-face with some perplexing problems.
For example, what are the crucial tax regulations that foreign furniture enterprises need to abide by in China’s furniture industry? What are the basic procedures of incorporation for these companies? Which entry modes are most ideal for foreign furniture enterprises keen on penetrating the Chinese market? How to identify the most effective market distribution channels for foreign investors?
This report aims to provide a comprehensive analysis and discussion of China’s furniture industry, as well as identify potential opportunities and challenges for both existing and potential investors. The report comprises seven parts.
In Part One, an overall introduction and background to the Chinese furniture industry are provided, in order to give a clear picture of the investment climate in this industry. Following this, the market analysis in Part Two analyses the different furniture subsectors, growth rates and latest developments in these subsectors; as well as defines the characteristics of China’s furniture industry. The case study on Shanghai’s furniture market pinpoints important trends in the bustling city’s furniture market.
Part Three provides a thorough analysis of the relationship between demand and supply, both at the industry and regional levels. This enables investors to better appreciate the various investment regions and adopt the most ideal marketing techniques. Information on wholesale and retail performance, distribution systems, distribution trends and relevant issues on import and export are presented in Parts Four and Five, which should give investors an idea of the trade operations of the furniture industry in China.
Part Six addresses issues on market access for the foreign investor. Topics in this section include intellectual property protection and taxation policies - issues which the foreign investor needs to be aware of and bear in mind. Finally, key industry players are listed and discussed in Part Seven, such as IKEA, Tiantan Furniture Company, Guangming Group Furniture Pte Ltd etc.
An appendix of useful contact information for foreign investors in China’s furniture industry is provided at the end.
Table of Contents
CHINA FURNITURE INDUSTRY
Tables and Figures
Executive Summary
Part One Industry Overview
Chapter 1 Introduction
1.1 Macroeconomic Outlook
1.2 Current Situation
1.3 Developmental Aspects
1.4 Latest Changes in the Industry
Part Two Market Analysis
Chapter 2 Market Overview
2.1 Market Description and Growth Rate
2.2 Market Analysis by Region
2.3 Analysis of Shanghai Furniture Industry
2.3.1 A maturing market
2.3.2 Development of Joint Venture (JV) Enterprises
2.3.3 National brand names in Shanghai
2.3.4 Global furniture manufacturers in Shanghai
2.3.5 Business modes of foreign-invested enterprises
2.3.6 Innovative furniture products
2.3.7 Solid wood furniture in fashion
2.3.8 Furniture bazaars everywhere
2.3.9 Furniture export doubled
2.3.10 Growing number of furniture expos
Chapter 3 Characteristics of the Chinese Furniture Industry
3.1 Competitive Edge
3.1.1 Growth in China’s fixed assets investment
3.1.2 Better-designed furniture
3.1.3 Regular furniture trade events
3.1.4 China’s WTO membership
3.1.5 Wider range of products
3.1.6 Brand loyalty
3.2 Industry Limitations
3.2.1 Small scale of operations
3.2.2 Poor product quality
3.2.3 Product imitations among domestic products
3.2.4 Poor management skills
3.2.5 Lack of capital investment
3.2.6 Shortage of professionals
3.2.7 Weak distribution system
Part Three Market Demand and Supply
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