The most populous nation in the world has nearly 250 million upwardly mobile middle class consumers, making China the biggest market in the world for luxury goods, automobiles, mobile phones, books, personal computers, household consumer electronics and other key products.
In the last 20 years China has transformed itself from a poor agriculturally based economy to the fastest growing and most dynamic economy in the world. China’s GDP passed Japan’s in 2010 and is expected to overtake the US and become the world’s largest economy within the next 15 years.
This economic growth coupled with the fact that Chinese products are now being sold not just all over the world but in China as well has made protecting intellectual property rights in a key priority for the Chinese government. And their actions speak even louder than their words. In 2011, an 8-month crackdown period resulted in 9,031 arrests. And while many people have heard of Google’s recent woes in China, the reality is most of the mistakes Western companies make in the Chinese market are self-inflicted as a result of executives not understanding what it takes to be successful in China. Since those highly publicized events, Google continues to operate and slowly rebuild its revenue base in China while competitors such as Microsoft leveraged Google’s setbacks to their advantage by deepening their partnerships with Chinese tech companies such as Baidu and increasing their shipments of Windows and Office preloaded on Chinese-branded PCs.
RTM Asia’s large and experienced China team will help you avoid the pitfalls and ensure your success in the country that represents the largest revenue opportunity on the planet. If you consider that Apple not only builds its products in China but expects to sell more iPhones in China in 2012 than in the US, there is no reason that any company with a good product can not be successful in China. We at RTM Asia focus on entering China the right way and have a long history of guiding our clients to long term revenue and market success in China.