This is one of the hot business topics of our time as the China Market becomes (in many sectors) the most lucrative of it’s kind in the world. With over 350 million middle class consumers, GDP growth of 7% year on year & powerful online eco-system for marketing & sales China certainly offers the greatest potential for savy business.
According to a recently released Newrank.cn report, from the 1st of January to the 14th of December 2018, WeChat Mini-programs attracted 4.3 billion RMB of funding, as part of 130 different funding rounds.
China have been a formidable field for innovation and is seen as the lands of opportunities by business owner and investor. This market has indeed an incredible potential with the growth of its middle class. However, China has its own practices, its own codes and it won’t be easy to succeed. Here is our guide to set you up for success in the middle kingdom.
Wines produced in new world regions, including many fine wines, prefer screw cap than cork, but when they entered China market, in order to adapt to the ceremonial sense of drinking, deliberately changed to cork for the needs of importers. This also led to the phenomenon that screw cap only accounted for small proportion in China imported wines.
Douyin is an impressive product: it was developed in 200 days, and within a year got to 100 million users, with more than 1 billion videos viewed every day.
The Chinese Ministry of Finance announced in November a new set of regulation affecting cross-border purchases. The new rules will take effect on the 1st of January 2019.
What should Western CEO’s, Entrepreneurs and Managers Give up to Win in China ? Good Question Isn’t it?
Successful Businessman in China all have a Mindset that allow them to Win in China, even against bigger players.
Wu Yajun is the world’s richest self-made woman, worth an estimated $9.4 billion.
The Chinese billionaire started out making $16 in a factory and made her fortune after founding the real-estate-development company Longfor Properties in the early 1990s with her husband.
On November 27th, Taobao started integrating with Xiaohongshu on its product description page.
Earlier in May 2018, Alibaba led the 300 million USD funding round of Xiaohongshu. The marriage of the 2 platforms is inevitable.
Tencent released their Q3 2018 earnings, and they show a transformation into a new company: away from gaming, and toward online payments.