Everything about China is massive: population, growth, development, health scares, natural disasters, banquets and buildings. And if industry events are a barometer of how our industry is doing in China, there are many indications that print there is thriving.

In contrast with the haemorraging that has beset Ipex in the last few months, China Print has attracted all the big names in our industry. FESPA China, taking place in November, has 400 exhibitors signed up and expects 28,000 visitors. According to the organisers, the show 'will bring local and international printers, business owners and buyers together to view the future of print'. These are clear indicators that from a manufacturer’s perspective, China is a high priority market.

But this really should come as no surprise. Ever since the implementation of China's 'reform and opening up' policy at the end of 1978 up to 2010, economic growth has averaged 9.5 percent per annum. China accounts for 17.3 percent of imports into the EU and 8.9 percent of EU exports. It is an engine of global as well as regional growth, so perhaps we should stop calling it an emerging market? China is Asia's (and the world's) prime economic engine, much as Brazil is South America's and Germany is Europe's. Yu Ping, the vice chairman of China's Council for the Promotion of International Trade (CCPIT) says that the 'development of the printing industry serves as a demonstration for economic, social, life and cultural development of a country. Indeed, there is a huge gap in printing industries between developed and developing countries'. Growth and print go hand in hand, which is why the printing industry is attracting such attention from exhibition organisers and equipment manufacturers. They see huge opportunities for their products and want to close the gap.

But for printing companies in the West, the opportunity in China is probably not so golden. The low cost base in China and elsewhere in the region has created a fertile export market for the country's printers for years, especially for book printing. However, changing local economics and rising demand for higher print quality in developed markets may be forcing a change to that model. That said, the Chinese are keeping as up to date with technology as their Western counterparts, as the vibrancy of its local trade shows confirms. Many Chinese printing companies offer web-based printing services and China has recently taken on the secretariat of ISO's TC130 (graphics technology), the committee responsible for print quality and workflow management standards.

The sheer size of this market has to be attractive to Western companies. Economic and technology advances have reached every corner of print and major players are already active. For instance, John Wiley and Sons, Pearson and McGraw-Hill all have a presence as do divisions of large media companies such as Bertelsmann and CBS. Newspaper companies are also eyeing China but they have a rather trickier problem to solve than book and academic publishers. Companies such as the UK's Daily Mail and General Trust are developing their businesses in the Middle East and India, but have so far steered clear of China. US-based Gannett has an office for digital services there but not much in the way of print publishing activities. The difficulties of competing with state-owned enterprises such as the China Daily are obvious, but freedom of expression is a relatively risky proposition in China. For this reason the New York Times keeps its servers out of the country, running a Chinese language news website using local reporters and editors working in Hong Kong, Beijing and Shanghai.

Mr Yu's gap still exists but shows such as China Print and FESPA China, plus manufacturers' wider support of the market, are helping to close it. Add to this the rise of China's middle class and increased diversity in communications and it is clear that China's cost base is changing along with its citizens' expectations. This may create opportunities for Western printers, but it is more likely to benefit local players.

Printing businesses already benefiting from international scale who want to grow even futher should absolutely consider partnerships or investments in China. But they should not overlook the considerable difficulties of doing business there and the value of working with partners they can trust. The locals are bullish and ambitious, particularly about their local show. Wang Demao, president of the Asia Print Federation and an advisor for China Print believes that it 'will soon become number one in the entire world along with the development of China and the Chinese printing industry'.