Why China

China’s emergence has had an extraordinary influence on the global economy. Its rise as an economic powerhouse has had a profound impact on its entrepreneurship scene with other countries seeking to emulate China’s success.

In 2014, China’s premier Li Kiqiang called for “mass entrepreneurship and innovation” as part of its Five-Year Plan. It became the leading agenda of its national economic strategy and incentives such as tax breaks and financial support were introduced to spur start-ups and innovation. In the same year, nearly 3.7 million new companies were registered across China, up 46% from a year earlier.

Today, China ranks as the world’s second largest producer of “unicorns” – which have disrupted traditional business models through innovation and creativity. They include Xiaomi and Alibaba, both listed by MIT Technology Review on the world’s 50 smartest companies in 2015. The opportunities presented within China are tremendous. The upcoming Belt and Road initiative, the internationalisation of the Renminbi (RMB), the new Digital Economy, and the massive outflow of capital from Chinese companies in search of overseas markets offer new opportunities in these key growth areas.

Singapore Valley Awards offers a valuable opportunity to be exposed to China’s thriving business community. The SVA internship programme allows undergraduates to gain valuable experience from a vibrant startup ecosystem and assimilate cohesively with one of the largest global markets. The exposure to overseas businesses and communities would be highly beneficial for gaining insight into different business environments, and acquire overseas business knowledge and cross-cultural communication skills.