Taiwan is eyeing China’s domestic consumers amid a US-China trade war. Taiwan’s trade council released a report on Thursday about China’s domestic market. The report said that China aims to have average annual household incomes grow threefold to RMB90,000 (around US$13,400) by 2020.
Taiwan’s trade council official Lin Fang Miao said that this would be a great opportunity for Taiwan’s businesses. He said smart technology, medical products, environmental and children’s products have much potential. Lin also noted the health industry is growing quickly in Beijing, Shanghai, Chengdu, Hangzhou and other cities.
As for the current US-China trade war, he said that Taiwanese businesspersons are keeping a close watch on developments to see how it will affect their business interests.