How Small U.S. Businesses Can Court Customers in China – Businessweek

CHINDIA ALERT: You'll be living in their world, very soon

Question: What are Chinese consumers looking for in an online shopping experience? What would you describe as the main reason websites aimed at Chinese consumers fail?

How Small U.S. Businesses Can Court Customers in China

Answer: News about Chinese tech companies making their way to Wall Street has been raising awareness about the vast potential Chinese market for U.S. small businesses. China is definitely interested in American-made goods. Here are some steps you can take to make sure your website is appealing to these new customers.

First, as I discussed recently, you need a website in Chinese. Make sure the site is created by a native Mandarin speaker who can convey the culture of your brand without a clunky verbatim translation that will fall flat, says James Chan, president of Asia Marketing & Management.

The main obstacle to selling online in China is the pervasive fear of being cheated or of buying a pirated product. “You need to find…

View original post 604 more words

Advertisements

Asia banks turn to ‘diplomats’ as regulatory burden bites

Financial Crime Asia

SINGAPORE (Reuters) – Banks have a new buzzword to describe their strategy in Asia: diplomacy.FCA - Singapore

Stung by regulatory probes into allegations ranging from the hiring of the offspring of senior state officials in China to rate manipulation in Singapore, and grappling with reams of new rules brought in after the global financial crisis, firms are going on a charm offensive with the region’s regulators and governments.

Executives brought in to head banks’ businesses in major Asian financial centers are now expected – by management and regulators themselves – to devote more time to building their relationships with financial watchdogs.

“Regulators have become major stakeholders – as important as big corporate clients – so firms are recognizing how key they are for business,” said Judy Vas, regulatory leader for Ernst & Young’s financial services business in Asia.

Barclays recently promoted its Asia head of tax, Li Li Kuan, to become country…

View original post 682 more words

China will have to be known for high quality products

The Way I See It - Mark Kolier

Chinese quality Last summer I wrote about the idea that few Chinese companies have embraced a dedication to making best-in-class products.   In my many visits to factories in China over the past five years I was almost universally asked about quality control and how it might be implemented. I quickly realized that in most cases the Chinese factory was not really interested in better quality since it would result in higher cost that those companies were unprepared to invest.

Almost all the Chinese companies I have visited are no closer to successful exportation of their products to the U.S. The main reason is that being the lowest cost provider does not work any more in a country where annual percentage wage increases are consistently in the double digits.

Shaun Rein of China Market Research wrote about this in his book ‘The End of Cheap China’ two years ago.   Not only has…

View original post 329 more words