Thai exporters need to reconsider their approach to China, says one trade group, as the mainland has rebalanced its economy in favour of industries related to information technology, health care, consumer goods, agriculture and machinery.
"We can no longer produce and export conventional products to China," said Manop Sangiambut, deputy secretary-general of the Thailand-China Business Council. "Anyone who is doing shipments to China needs to closely monitor the new wave of industrial development there."
The Chinese government recently unveiled a slew of targeted measures to give a lift to the slowing economy and improve the country's long-term economic structure.
Beijing has pledged to provide favourable tax policies to smaller firms and to speed up investment to revamp shantytowns and hasten construction of railways in the poorer western provinces.
In addition, plans call for easing curbs on foreign investment in Chinese stocks and promoting overseas investment.
China also aims to stimulate domestic consumption in lieu of export promotion and to crack down on luxury living.
According to Mr Manop, also an executive vice-president of Siam Commercial Bank, China's economic policy has changed a great deal, especially with its financial reforms meant to head off an economic bubble driven by "shadow banking".
Shadow banking is unregulated, high-yield lending that takes place largely off banks' balance sheets.
China's central bank wants to minimise risks related to shadow banking, but it has shown little interest in shutting down the practice entirely.
Mr Manop said problems incurred by shadow banking are expected to surface in the third and fourth quarters this year.
Vikrom Kromadit, vice-president of the Thailand-China Business Council, urged Thai firms to cash in on China's policies promoting foreign trade and investment.
"We believe that over the next four or five years, Chinese businessmen with massive capital to invest will flood into several countries worldwide," Mr Vikrom said. "Asean and Thailand should definitely be their priority.