Fifty-seven percent of the leaders of small and medium sized enterprises (SMEs) in the Asian pacific region believe China will become the world's largest consumer market in 10 years, overtaking the United States.

According to the 2007 Asia Business Monitor published by United Parcel Service (UPS) in Shanghai Tuesday, 92 percent of the SME leaders list China as the market with greatest economic growth potential in 2007.

The survey shows 71 percent of the respondents believe Chinese SMEs will become more competitive and 74 percent of the respondents remain upbeat about the growth of trade volume within the Asian Pacific Region.

UPS Asia Business Monitor is conducted by Hong Kong-based market research firm TNS since 2005, targeting SMEs with no more than 250 employees and annual turnover of 500,000 to 10 million U.S. dollars. It aims to provide the latest insights of the changing opinions and attitudes of the business leaders of the region's SMEs.

UPS is a global logistics giant with its headquarter in Atlanta, the United States. It has set up more than 60 branches in the Chinese mainland.