The opportunities presented by the Chinese market are becoming increasingly difficult for Western businesses to ignore. Despite the global economic crisis, China’s economy still managed to achieve a GDP growth rate of 8.3% in 2009, and some industries (such as the automotive and pharmaceutical sectors) continued to see double-digit growth throughout the economic downturn. With economic analysts predicting China to become the engine for global economic growth over the next decade, many Western enterprises are actively realigning their global strategies to give a greater precedence to China and other Asian markets.
Within China, rapidly changing demographics, rising incomes, increased consumer spending and an increasingly open business environment have all helped to make the Chinese market increasingly attractive to Western businesses across a variety of industries. Similarly, declining sales in their home markets has forced many US and European companies to relocate China firmly to the centre of their long-term global growth strategies.
Breaking into the China market successfully can seem like an almost impossible task to foreign companies with limited or no experience of doing business there. In the latest white paper for B2B International, Mark Hedley illustrates some of the fundamental considerations that any company must take when approaching the China market for the first time. Although these steps may lead to very different conclusions for different companies, they can help companies to properly determine an appropriate strategy for China.
To read the full white paper click on the following link Entering Chinese Business-to-Business Markets: The Challenges & The Opportunities