This week, CNNMoney is running a series of articles about China. I was interviewed on the topic of China’s growing middle class.
It’s mind-boggling for Americans to think that China’s middle class is already largest than the entire population of the United States. Yet, the Chinese middle class is only about 25 percent of China’s population. The explosion of the middle class is a result of China’s phenomenal growth in the past decades. As China’s economy slowing down, the Chinese middle class will face some challenges climbing up the economic ladder. My friend Shaun Rein, the author of The End of Cheap China, pointed out that foreign companies need to have a long term view in betting on Chinese consumers. I totally agree.
It is a good thing that mainstream media has started to pay more attention to China. I look forward to seeing more coverage about China on CNN.
I will be speaking at Bay Area Council in San Francisco on March 22, at their luncheon series “How to Do Business in China.” See the details below:
The Bay Area Council is a business-sponsored, public policy advocacy organization for San Francisco Bay Area. Founded in 1945, the Bay Area Council has more than 275 of the largest employers in the region and is widely respected by elected officials, policy makers and other civic leaders as the regional voice of business in the Bay Area.
Please join me:
When: 12:00pm – 1:00pm, March 22, 2012
Where: Nixon Peabody LLP, One Embarcadero, 18th Floor, San Francisco, CA
Check out your local Chamber of Commerce or Export Assistance Center and familiarize yourselves with legal and regulatory issues in China. These facilities also have a lot of resources and services that can help you develop China market entry strategies and find the right business partners.
Consider rebranding or repositioning your products in China. Remember, what works in your native country may not work in China. You really need to learn about Chinese culture, understand Chinese consumers, and adapt your products and services to the China market.
For smaller brands, e-commerce is a great way to break into the China market without significant upfront cost. China’s ecommerce has been growing at 60 percent each year in recent years. More than 100 million Chinese shopped online last year. And China’s Internet users are expected to reach 750 million in 2015.
I will be speaking at San Jose State University on November 8th, 2011. The topic of my presentation is “The Biggest Story of Our Time: The Rise of China’s Middle Class.” I will give an overview of the demographics of the emerging Chinese middle class and discuss what the rise of China’s middle class mean for entrepreneurs.
The event is hosted by International Business Association, a student-run organization. Please see the event details below:
When: Nov. 8, 2011, 6:00 pm
Where: Science Building 164 (SCI 164), San José State University, San José, CA 95192
