I was honored to speak at The 1990 Institute’s Teachers Workshop on Monday in San Mateo, California. The two-day workshop, titled China’s Growing Global Impact, was designed to help high school teachers understand what’s happening in China and prepare our students for a future that will be very different from their parents’.
My presentation, of course, is on the subject of the rise of China’s middle class. Here are the slides I presented at the workshop:
The 1990 Institute is an organization that fosters better understanding between the U.S. and China. Other people on the panel include Dr. Tom Gold, professor of sociology of UK Berkeley, Dr. Mark Henderson, program head of Environmental Studies at Mills College, and John Kamm from Dui Hua Foundation. It was a real honor to be in such a distinguished company.
This week, CNNMoney is running a series of articles about China. I was interviewed on the topic of China's growing middle class. It is a good thing that mainstream media has started to pay more attention to China.
Among the series, an article "US Companies Betting Big in China" showcased some of the most successful US companies in China:
Apple's sales in China reached $12 billion in 2011
KFC, Pizza Hut, and Taco bell opened 656 new restaurants in China last year alone
Boeing predicts China's aircraft market will generate $200 billion revenue
While multinationals have made significant inroads to China, small and medium sized companies face entry barriers due to lack of resources. To address this problem, I will launch seminars later this year to help small and medium sized companies to take advantage of China's growing market. Stay tune!
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