Dawn of a New Era: The Light on the Other Side of COVID-19
COVID-19 has changed the world and our lives in a profound way. Lots of people lost their jobs. And many lost their businesses. While the future is full of challenges, this pandemic also reveals a new universal characteristic for successful business: a community with a shared future for mankind.
Under the changed paradigm, the best strategy for our businesses is to look early and start soon to enter new and young markets. Your business may be small, your cash flow may be weak, but with remarkable technologies, a convincing business model and a proven track record, the Chinese and southeast Asian region might be the perfect market to grow and expand your business.
We have the resources, expertise, and experience to help you enter the market, be informed about relevant regulations, navigate cultural and societal differences, identify funding opportunities and unlock the potential of this innovative region.
Why China? Besides everything everyone knows about China, let me add a few thoughts that may help your business go global:
Work with the government, not against it! The government policies and strategies are the guidance for the success of most businesses. The development of any business is strongly supported and determined by the governments in China. It is crucial to pay close attention to the government policies in the field of your business and adjust your strategy accordingly. The situation is similar in many SEA countries.
China has well established infrastructures. Life in most Chinese cities is very convenient, safe, and efficient. For example, efficient food delivery services, well developed logistics, and ubiquitous mobile payment in China definitely make life easy and affordable as compared to life in most western countries. You really have to experience the quality of these services! Moreover, the nation is entering a new phase of infrastructure development to construct smarter cities with improved IT infrastructures, to merge different infrastructures to connect different industries, and to develop better systems for better R&D and innovation.
China is highly digitized. 5G is already well-established in China. The government is focused on new technologies including IoT, industrial internet, satellite internet, AI, cloud computing, block chain, data center, intelligent computing centers, etc. All the ICT-based foundation will support a more efficient, smarter, and cheaper business ecosystem for you to reach your clients much cheaper and faster.
Chinese people love saving money and love spending money. This might sounds contradictory, but it’s true. If your business is 2C, then you don’t have to worry about not finding clients as long as your product is competitive. Chinese customers are very “spoiled” because of the variety and quality of services provided by the leading e-commerce platforms. But you are sure to find quality customers who can afford to buy great products and services.
Chinese market is increasingly better regulated in terms of IP protection. In June 2008, the Outline of the National Intellectual Property Strategy was published and implemented. China understands how tech business owners are concerned about IPRs and the Chinese governments and society have put much effort into improving our IP environment. The Chinese S&TI policies all refer to IP as an important topic. Universities, research institutes, and companies are actively implementing the National IP Management Standard Certification as well. China understands that to successfully mingle with the world in the high tech field, IP protection has to be at the core of its policies.
China is closely connected with ASEAN. Some call 21st century the Asia Century. SEA is the second largest market in the world. You can easily see how strong and fast SEA grows in the aspects of venture capital, consumption, trade, and population. And China has very strong influence and connections with SEA. The interaction between China and ASEAN will only increase in intensity. There are a lot of channels and opportunities a business can leverage starting from China to succeed in SEA.
China is more open to foreign tech companies and talents. In 2020, China has published draft rules on permanent residence for foreigners aiming to attract more foreign talents. Now western companies can setup their subsidiaries in China without partnering with Chinese companies.
Despite uncertainties caused by Covid-19, this might be a great time for you to consider starting your business in China with us. We will share everything we’ve learned and all the resources we have to help you create a successful global business!
Please join us for an exciting venture in the far east. It will be one of the best decisions you’ve ever made. We look forward to seeing you soon!
Haoshu Peng & the Taovation family
中文 | EN