According to the World Bank reports on economic development, China is the world’s second-largest economy.
With a population of over 1.3 billion, the market-based economy has worked hard to achieve a high GDP since 2012.
The global standards of social and economic development in China have allowed the country to boost foreign investment.
With the new draft laws released by the Standing Committee of the National People’s Congress, foreign investment is expected to rise in the coming years.
As a foreign business investor, hire the expertise of a Chinese translation and internet marketing agency to overcome the challenges of expanding in the Asian market.
Language And Cultural Barriers
China has thousands of years of rich history, traditions, culture, and customs.
As a Western brand, you might not be aware of the intricate elements of the Chinese language and culture. It poses as a barrier to connect with the audience and get feedback.
Be mindful of the words you use while writing Web content as symbolism and mythical stories play a huge part in China. Any cultural insensitivity could anger local customers and they may end up boycotting your brand.
The first step is to hire an authentic Chinese translation service that has an experience working with businesses. Translate your website in Mandarin and other Chinese dialects depending on the region you’re targeting.
As more and more foreign investment is coming in China, local competition has been on the rise.
The main challenge that foreign businesses face is to present their brands in an interesting light that makes them stand out amongst the competition.
One way to do that is by conducting market research, studying the local competitors and establishing business relationships (Guanxi) with counterpart trade companies and government agencies.
Tax Codes And Compliance Issues
Whether you have a business operating out of China or your e-commerce website supplies products directly to consumers, non-resident company tax is liable to all.
The administrative and bureaucratic red tape in China requires companies to go through a long process of registering their business, gain product approval and open a local bank account.
Your task is to appoint local Chinese administrators to handle the legal paperwork and hire a local sales and marketing team to design promotional campaigns.
Operational Risks With Hiring Staff
The cultural difference in the working environment of Western and Chinese companies is such that Chinese employees stick to the hierarchy.
They’re accustomed to working in an environment with clearly defined roles and tasks. As a foreign employee, you must train your employees to encourage creativity and risk-taking while working closely with superiors.
Besides hiring operational staff, you’ll also need to hire a local marketing team that’ll help you navigate the cultural and political climate of China.
Successfully Expand Your Business In China
Hire professionals who are well-versed in the local market and expand your businesses operations in China.
LIMPID is a leading translation and internet agency that provides comprehensive marketing solutions to foreign business looking to capture the Chinese market.
From designing a website to English Chinese translation services, the company aims to provide e-commerce, copywriting, SEO, mobile app localization, and Mandarin voice-over services.