China Briefing is a monthly magazine and daily news service about doing business in China. We cover topics relating to the Chinese economy, the market in China, foreign direct investment and Chinese law and tax. It is written in-house by the foreign investment professionals at Dezan Shira & Associates
As the Chinese government strives to boost domestic consumption in order to achieve sustainable growth within its economy, China’s urban residents are continuing to see their disposable income levels rise. Consequently, they are increasingly pursuing a higher standard of living, and one important means of achieving this is via the purchasing and use of quality import products.
From food to clothing, mobile phones, electronic appliances and cars, foreign brands are perceived as superior to domestic ones, and consumers are willing to pay a premium for them. This trend opens up tremendous opportunities for established foreign sellers interested in expanding their market coverage to include one of the world’s largest (and increasingly affluent) populations.
However, while many opportunities abound, selling to China may not be as simple and straightforward as what foreign sellers are accustomed to in other markets. China is a unique landscape shaped by its own history and culture, and has its own unique legal and regulatory system. Successfully doing business in China involves complying with myriad constantly-evolving legal requirements, as well as a thorough understanding of the market. Conducting market research before deciding to enter the market is crucial, and patience is key as it may take several years before profits are realized.
In this issue of China Briefing Magazine, we demystify some complexities of conducting business in China by introducing the main certification requirements for importing goods into the country; the basics of setting up a representative office; as well as the structure and culture of State-owned enterprise in China. Finally, we also summarize some of the export incentives available in various Western countries.
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