China to further support work resumption of foreign enterprises, projects

China’s top economic planner urged economic regulators at all levels to further support the work resumption of foreign-funded enterprises and projects and stabilize foreign investment.

Development and reform authorities should contact foreign-funded firms and help them solve their difficulties in work resumption, according to a circular issued by the National Development and Reform Commission.

Accurate assistance will be offered to key foreign-funded companies while the call for the coordinated work resumption of industrial chains will be actively responded to.

The circular required local authorities to make regular visits to foreign-invested firms and projects to gain insight into the situation of production, operation and investment while addressing the concerns of firms and chambers of commerce through strengthened communication.

Projects that have started production will be aided in terms of logistics, materials and the return of employees to resume capacity at the earliest time. Construction of projects in progress will be secured while support will be offered to projects in the early stage to complete procedures remotely and start early operation, according to the circular.

China will simplify procedures for the establishment of projects, fully implement the negative list mechanism of foreign investment access, protect the legitimate rights of foreign-funded projects and ensure foreign firms and projects enjoy supportive policies equally with domestic businesses.

The country will revise the catalog of industries that encourage foreign investment, stressing the promotion of high-quality development of the manufacturing sector and tapping the potential of the central, western and northeastern regions to take over industrial relocation.

Article from:http://investinchina.chinadaily.com.cn/

7 Tips For Marketing Your Brand To Chinese Consumers

You can’t ignore the huge growth currently taking place in the Chinese market. As the world’s second largest economy, China is already the globe’s biggest market for many products and it is continuing to grow at a staggering rate. Even accounting for some slowdown, China is likely to become the world’s largest economy by 2030. This means that expanding into China is a great idea for businesses of all shapes and sizes.

However, you can’t simply take your product and its current marketing and drop them into the Chinese market. Well, not if you want to succeed. Many businesses fail to crack China simply because their marketing doesn’t suit Chinese audiences. Chinese consumers prefer different forms of advertising, they use different technologies to shop, and they make different judgements about product pricing. If you want to enter the Chinese market, you need to market your product in a way that works for China.

So what do you need to do to successfully market your brand in China? Follow these top tips.

  1.  Adapt Your Marketing Calendar

Western markets are heavily centered around occasions like Christmas and Black Friday. No marketer would dream of ignoring these big selling occasions. However, plenty of businesses fail to focus on occasions which are just as big in the Chinese market. The lunar new year, which falls between late January and late February, is an important time of year which is associated with a lot of commercial activity in China. There is also Singles’ Day on November 11th, a sort of anti-Valentine’s Day celebration which encourages singletons to buy themselves gifts. In 2017, Singles’ Day generated a record $25 billion in China. Make sure that you adapt your marketing calendar to Chinese events so you don’t miss out.

  1.  Focus On Social Media

Get familiar with how Chinese social media platforms like WeChat and Weibo work. Digital marketing is growing fast in China and savvy companies are running highly successful social media marketing campaigns there. If your advertisements are easily shareable, they will go far in the Chinese market where word-of-mouth recommendations hold a lot of weight. WeChat, one of the largest social media and messaging apps, also has a direct pay option (WePay) so you can efficiently convert ad viewers into customers.

  1.  Use QR Codes

QR codes are an important part of marketing your brand in China. Using WePay and a QR code, Chinese customers can use their phones to buy products from brick-and-mortar stores without using cash or cards. Chinese consumers buy more products on mobile than consumers in the US and UK and using QR codes can make this a much easier process. The introduction of QR codes in China led to massive falls in the use of ATMs and POS machines until the integration of QR reading technology. These little black-and-white boxes have changed the way people shop in China and it would be a mistake to ignore them for your products. They may not be highly popular in the west, but QR codes play an incredibly valuable role in marketing in China.

  1. Be Aware Of Pricing

Think carefully about your pricing strategy before marketing your product in China. Incomes vary significantly across China and selling a product at the same price point all over China usually won’t work. For example, East China has an average income that is around two and a half times higher than Central China and almost three times higher than West China so you should adjust your prices to suit consumers in these areas.

Chinese consumers are also sensitive to what price point says about a product itself. Brands may not be perceived as luxury or high quality if pricing is too low, and a strong brand will often succeed by increasing their prices in China. Take the example of Coach. In China, the cheapest bag on the Coach website sells for 2,300 RMB ($330 USD) while the same bag is priced at just $175 on their US website. Similarly, the most expensive bag is priced at 9,950 RMB ($1430 USD) versus $995 for the US. Seller beware: Pricing can make or break you in China.

  1. Emphasize Quality, Not Pricing

In this same vein, it’s useful to focus on the quality and prestige of your product rather than the price when advertising in China. While western advertising may focus on getting value for money and paying the lowest price possible, Chinese commercials emphasize a product’s style and the mood it evokes. Presenting a product as cheap isn’t a good idea in this market.

  1. Value Imagery Over Information

Chinese advertising tends to focus on aesthetics and moods rather than information-heavy text or audio. Chinese audiences also tend to appreciate advertising that centers around family and optimism as well as style, aspiration, and emotional warmth. Different styles will also do well in different parts of China, with eastern consumers valuing fashionable commercials and the north leaning towards family-focused advertising. While information is obviously important, it’s more vital that your marketing hits the right tone of aspiration, style, and warmth.

  1. Check Your Translation – And Check It Again!

This one should go without saying, but unfortunately plenty of businesses make this mistake. You need to check that your Chinese marketing content is written in correct Chinese. Reach out to a native Chinese speaker you know or find a reputable Chinese speaker on a website like Fiverr to help you translate your content. You need to ensure that it makes sense grammatically and that the overall message makes sense. Using incorrect Chinese can make you look unprofessional, turn your business into a laughing stock, or even worse, cause offense to your target market.

Article from:https://www.floship.com

Brands become more important in Chinese market

China Mobile retained its number one spot in the annual top 50 Most Valuable Chinese Brands study, with a brand value of US$50,589m. It is closely followed by financial institutions ICBC and China Construction Bank in second and third.

Tech brands in China have reported “tremendous growth” according to the report, as Chinese consumers spend more time and money on digital and mobile platforms.

Chinese search engines Baidu and Tencent moved up the rankings to fourth and fifth respectively.

Non state-owned brands have also increased their representation on the top 50 accounting for more than a quarter (27 per cent) of the league compared to 22 per cent last year.

Standout brands include men’s fashion range Septwolves, which increased its brand value by 44 per cent during the year, Hainan Airlines, which increased its brand value by 23 per cent despite a 22 percent decline across the entire category by building a strong reputation for customer service, and domestic appliances brand Gree.

Chinese brands including laptop manufacturer Lenovo, internet firm Tencent and domestic appliances company Haier are also increasing their influence overseas as well as domestically.

The report states: “For Chinese consumers, brands are becoming more important than ever, playing an increasingly significant role in their consumption choices.”

This means there is an opportunity for companies to invest in their brands to gain advantage, the report claims.

Brands must build a strategy around becoming a bigger brand in China’s lower-tier cities, or a smaller brand in its first-tier cities, the report suggests.

The BrandZ top 50 Most Valuable Chinese Brands have also outperformed all companies in the MSCI China Stock Market Index delivering a higher return on investment, which Millward Brown says proves companies with strong brands deliver better shareholder value.

Despite this, the total value of the top 50 Most Valuable Chinese Brands fell 1.6 per cent to US$320,224 million compared to last year.

The study, commissioned by parent company WPP, combines analysis of financial and business performance with interviews with 35,000 Chinese consumers.

Article from:https://www.centaurmedia.com

10 Chinese Social Media Sites You Should Be Following

Companies are eager to enter the Chinese social media space. Every global social media strategist and industry expert will tell you. As Chinese social media sites have evolved, global marketers have, too. Your community and customers are already discussing your brand, competitors, and industry – so, finding these conversations and tapping in is your first step to developing any solid, scalable global social media strategy.

But what if these conversations are happening outside of Twitter and Facebook? By the end of December 2012, China had 564 million Internet users, 50.9 million more than the year before, and representing nearly 40% of the Chinese population! As the world’s largest online community continues to grow, Chinese social media sites have become popular tools to reach Chinese consumers.

China is one of the most restricted countries in the world in terms of internet, but these constraints have directly contributed to the staggering success of local Chinese social media sites. The Chinese government makes it impossible for foreign companies to enter the Chinese social media network social network. Without access to the majority of social media platforms used elsewhere in the world, the Chinese have created their own networks, just like facebook, Myspace, Youtube, and Foursquare – but with more users – which is why every global company needs to pay attention to these sites.

Micromedia

Sina Weibo

“Weibo” is the Chinese word for “microblog”. Known as the “Twitter of China”, Sina Weibo is actually much more than just that – it has over twice as many users as Twitter, and it’s used by more than 22% of the Chinese Internet population of almost 540 million people! Sina Weibo was well ahead of the game in providing users with the ability to include images and video – far before its Western counterpart, Twitter.

And just as Hollywood celebrities connect with their fans via Twitter, Chinese celebrities depend on Weibo… and even some global-minded celebrities have jumped on the opportunity to connect with their Chinese fanbase through Sina Weibo. Lebron James and Kobe Bryant are two of the most influential global celebrities in Chinese social media, and they are both active Sina Weibo users. After setting up a Sina Weibo account just last month, Kobe Bryant had over 100,000 followers within a few hours.  He started his account just a few days after a message appeared on Nike Basketball’s Sina Weibo account, on Chinese New Year’s Day: “Hey it’s Kobe, I’ve decided to take over Nike basketball’s Weibo handle for a few days and I wanted to wish you all a Happy New Year.”

Tencent Weibo

Very similar to Sina Weibo in terms of functionality and demographics, users can share photos, videos, and text within a 140-word limit and the re-posting function of Tencent Weibo is just like Twitter’s “retweeting”, which is replied in @ form. However, Tencent Weibo acts as a social network, connecting people together – like facebook. Tencent Weibo has about 200-250 million users.

Social Networking

Renren

Renren is essentially China’s Facebook. Formerly called Xiaonei, which means “schoolyard”, it began as a platform for re-connecting friends from school. Like Facebook, Renren aims to stay up-to-date in the fast-growing mobile space and cater to college students. Renren has an estimated 150  million registered users and 31 million active users per month.

Instant Messaging

QQ

QQ is an abbreviation of Tencent QQ, a widely popular instant messaging service. By Last September, there were 784 million active user accounts with approximately 100 million online at a time. According to Alexa Internet rankings, the QQ website ranked 8th – moving it ahead of Twitter.

Forums/Blogs

Douban

Douban is very similar to MySpace, popular with special interest groups and communities, and for networking around specific topics. It has over 100 million users and it’s most active users are intellectuals and pop culture junkies looking for movie, music and book reviews with around 60 million registered users and 80 million active users per month. For the 20th anniversary of  Tiananmen Square protests of 1989, Douban extended its keyword list to ban any terms that may be relevant to the incident.

Video Sharing

Youku

Youku, meaning “excellent (and) cool”, is the second largest video site in the world after Youtube. Youku has partnered with over 1,500 license holders, including television stations, distributors, and film and TV production companies in China that regularly upload media content on the site. On March 12, 2012 – the two biggest video online companies in China, Youku, and Tudou, announced their merger – the name of the merged company is Youku Tudou Inc.

Mobile Apps & Geolocation

WeChat

WeChat — is a mobile voice and text app. With social features like “friend discovery”, you can chat with your friends instantly via voice messages, texts, or images. You can also create group chats to chat with several friends together. It has more than 100 million users.

Article from:https://www.synthesio.com/

What is WeChat-China’s billion-user messaging app

WeChat is a Chinese multi-purpose messaging, social media and mobile payment app developed by Tencent. It was first released in 2011, and became one of the world’s largest standalone mobile apps in 2018, with over 1 billion monthly active users.

WeChat has been described as China’s “app for everything” and a “super app” because of its wide range of functions. Due to its popularity, user activity on WeChat is used for mass surveillance in China. WeChat also censors politically sensitive topics in China.

WeChat had over 889 million monthly active users in 2016. As of 2019, WeChat’s monthly active users have increased to an estimate of one billion. After the launch of WeChat payment in 2013, its users reached 400 million the next year, 90 percent of whom were in China. By comparison, Facebook Messenger and WhatsApp (two other competitive international messaging services better known in the West) had about one billion monthly active users in 2016 but did not offer most of the other services available on WeChat. For example, in Q2 2017, WeChat’s revenues from social media advertising were about US$0.9 billion (RMB6 billion) compared to Facebook’s total revenues of US$9.3 billion, 98% of which were from social media advertising. WeChat’s revenues from its value-added services were US$5.5 billion.

According to SimilarWeb, WeChat was the most popular messaging app in China and Bhutan in 2016.