Although the economy has caused China a few setbacks, the country is faring better than most. And the demand for project management skills continues to grow.

When the economic storm first began to spread from country to country, many economists predicted China would be able to weather the worst of it. After all, the country had established a strong banking system and, over the past three decades, had emerged as an economic powerhouse.

But as the crisis worsens, it seems no country is truly safe.

In March, China’s Premier Wen Jiabao announced a target 2009 GDP of 8 percent growth, which was down from nearly 10 percent last year and represented a seven-year low for the country, according to The Washington Post.This indicates that, while China is still growing, growth is slowing.

And in February, China’s biggest industry—exports—fell by 25.7 percent, thanks to decreased international demand from customers in key markets like the United States and Europe.

This drop has weakened many of China’s coastal towns, which were once the centers of the export business. “Most of their industries have had to close down or drastically cut production or cancel projects under development,” says Roger Chou, PgMP, Taiwan-based CEO of Advanced Business Consulting and founder of the Institute of Taiwan Project Management.

But don’t put China’s economy in the failing column just yet. The government is committed to helping manufacturers rework their products to appeal to local consumers, according to Hubert Vaughan, professor of project management in the Institute of International Engineering Project Management at Tsinghua University, Beijing, China.

And in November 2008, China’s State Council announced a stimulus package worth CNY4 trillion (US$586 billion) to spur domestic spending, and to launch a wave of massive infrastructure and social welfare projects.

All of these projects are increasing an already heavy demand for project managers in a country where executives rely heavily on the authority of the Project Management Professional (PMP)^SM credential—and place importance on earning certifications in general—to increase business effectiveness.

In fact, a large reliance on project management has always underpinned China’s major successes, Mr. Chou says.

“The Beijing Olympic Games alone created a demand for more than 1,500 PMP^® [credential holders],” he says.

China Facts & Figures 2007 Population: 1,321,300,000 2007 GDP (purchasing power parity): US$7.32 billion Average GDP growth rate between 2003-2007: 11.0 percent

Source:  Economist Intelligence Unit

“The climate for project management is much emphasized because [executives] don’t want to waste time, money, resources, et cetera,” says Mr. Vaughan. “Executives are encouraging project management skills. It’s a major opportunity for people in any industry to become a project manager.”

This increased demand may also be changing the way project managers are seen within an organization.

“The government’s requirement for gaining management credentials will lead to a reform in Chinese companies’ organizational structure,” says Mr. Chou. “A traditional project manager’s role in a weak matrix structure will be transformed to a strong matrix structure, and their positions and roles can be more and more influential. Trained project managers will become very important and powerful in an organization.”