The year 1978 marks the turning point for China. Since then, China has proved to be a champion of globalization with cutting-edge technologies. Over the years China transformed itself from being isolated to becoming the world’s factory.
In recent years, under the guidelines of “Made in China 2025”, the aim is to go from being a giant labor-intensive workshop to a more technology-intensive powerhouse. China may need the world, but the world definitely needs China, just like global innovators need the market.
The fact is that China is continuously growing faster than other countries. Here are some factual numbers:
In 2017 the total retail sales of consumer goods hit 33.23 trillion RMB and Volkswagen sold 41.58% of its passenger cars within Chinese market.
In 2019 many giant multinational companies such as Siemens and Nestle also reported their highest growth in China compared to other regions, and China became the world leader in international patent application, with 40% of the global total this year.
Chinese consumers are ahead of the global counterparts in terms of adopting new technologies, 8 out of 10 Chinese consumers stated the importance of a dynamic social media presence.
Besides the great market potential, what additional benefits do European Tech. companies obtain in the Chinese market? International institutional environment, centrally controlled special economic and high-tech development zones as well as ever improving quality of human resources.
Yet how can European companies tackle this highly competitive market with access restrictions, ambiguous rules and regulations and diversity between the Chinese culture and the International standards?
The European Technology Chamber, China Chapter provides the European Technology enterprises with plans and guidelines for entering the Chinese market. We devote ourselves to turn your ideas into reality, to bond your business with the Chinese market successfully, hence providing sustainable growth, and facilitating your commercial scale-up.
Take the first step towards expansion in the Chinese market and learn more about us in the video you can watch here.