A new report finds that 78% of Chinese SMEs conduct their business in Asia Pacific, compared to 6% in the U.S. and 10% in Europe, reports the China Daily News, citing the UPS Asia Business Monitor report.
The newspaper reports that more than 70% of survey respondents lists Asia-Pacific as the top prospect for trade growth and business expansion over the next three years.
"This year's survey reflects a strong belief in the continued global economic recovery, especially in Asia," said Richard Loi, president of UPS China. He said the growth potential of the region can be reflected by an export volume growth of more than 40% in China in the first two quarters of 2010.
The survey also revealed that nearly half of Chinese SMEs say they would increase their workforce by up to or more than 10% in 2010, compared with 35% in 2009.