ABSTRACT
This chapter examines what the future holds for entrepreneurship in China. It highlights some key challenges that may constrain the continued development of entrepreneurship in the future, and explores key growth sectors for private enterprises in China. The existence of a large and relatively youthful labour force was an important factor in China's rapid economic growth in the early stages of opening up and reform. In particular, the economic transition has led to new opportunities in sectors as diverse as renewable energy, healthcare, aged care, e-commerce and agriculture. Policy responses to the new normal of lower growth propose a further restructuring of the Chinese economy towards a greater role for services and a stronger consumer economy. Within this context of continuing structural change, Chinese enterprises are facing multiple challenges, including increased domestic and global competition, demographic changes as the population ages, environmental degradation, an education system that was not designed to support entrepreneurship, and an ever-uncertain institutional environment.
