Developments in China

The biggest recent industry development regarding China is the re-opening of its borders for business. Covid and the ensuing “zero-covid” lockdown policies imposed on the world’s second largest economy certainly wreaked havoc on business in the region, but that’s all about to change.

Brian Klein, founder of strategic advisory firm Ridgepoint Global and a special contributor to the news outlet Grid, remarks, “To be sure, 2023 has started off with a bang. The economy rebounded in January, according to official Chinese statistics. The IMF (International Monetary Fund) has raised estimates for China’s GDP growth this year to 5.3% from 4.4%, though with a heavy caveat that 2024 may not look as rosy. And investors are pouring back into the region, eager to capitalize on new demand that will likely outpace the rest of the world. Overall, this is welcome news at a time when recession fears persist in the US and Europe.”

In line with an overall economic rebound is growth in the packaging sector. According to research firm Mordor Intelligence, China’s flexible packaging market is expected to reach a CAGR of 4.3% ov