With the slowdown of China’s growth reported a few days ago, 7.6 percent in the 2nd quarter which is down from 9.5 percent just last year, it seems that even the world’s fastest growing economies are getting hit by the global economic crisis. Chinese officials however don’t seem to be worried, telling reporters that the numbers simply show that their economy is maturing. Yet, with the world’s second largest GDP, which was estimated in 2010 to be around 6,000,000 million USD, and a growth rate that is still one of the highest in the world, international companies still need to keep an eye on the Chinese market.
For companies looking to enter, or already immersed in, the Chinese market, cutting down communication barriers is key. However, it is not always easy to find the resources to translate to and from Chinese. In China, the translation industry has only recently begun to take off, as the economy opened up to foreign industry in the 1980’s and 1990’s. Prior to that, translation was a very controlled field with most organizations and businesses having their own in-house translators. By the 1980’s, with the introduction of the market economy to the country, demands for Chinese translation grew, and the Translators Association of China (TAC) was established in 1982. Since then, with more and more companies and organizations seeing the importance of China’s growth, demand for Chinese translation has taken off. In 2005, it was estimated that Chinese translation output was around 2.5 billion USD.
Trusted Translations realizes the importance of translating to and from Chinese and has a team of experts ready to help you with your Chinese translation needs. Contact us for a Free Quote and let us help you take advantage of all the Chinese market has to offer.