Strength Through Diversification: Opportunities across Asia Pacific

MAINLAND CHINA Mainland China has long established itself as the world’s largest source of exports, and with that has access to significant labour, transport and throughput capacity.

Evolutionary changes are underway as not only the manufacturing sector becomes more sophisticated, but also as mainland China pivots to reduce dependency on exports and strengthens domestic consumption. First introduced in 2020, the dual circulation economy now places emphasis on domestic economy-led growth and self-sufficiency based on mainland China’s domestic market of 1.4 billion people, which include over 400 million middle-income consumers. The growth of domestic consumption has especially been seen in mainland China’s third- and fourth-tier cities, especially through the rapid adoption of e-commerce, which has created significant demand for increased logistics capacity. Furthermore, as the population continue to prioritise more efficient medicine delivery and fresh and safe food continues to increase, so demand for these items will continue to grow. For example, fresh



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