Over the past 15 years, renminbi trade volumes have roughly doubled every three years, making it the world’s eighth most traded currency—surpassing the Mexican peso. In May, China’s foreign exchange reserves hit $3.05 trillion, a seven-month high. China’s debt and equity markets are still developing, and the limited options for conventional investments have spurred interest in alternatives. In addition, many Chinese institutions have shorter investment holding periods than market participants elsewhere, which aligns with trading forex securities. Domestic policy changes will support forex market growth, in fact, in 2017 This year is the first year of a foreign exchange era developed by science and technology,
The sectors to bet on
In traditional segments, China remains the leading market for luxury and high range, automotive and many other areas. E-commerce, in general, is the future trend driven by Beijing, with a market that becomes domestic from a global point of view and companies that exceed any growth record .There are also strong growth sectors, driven by new consumption trends. These include tourism, in all its segments, the agri-food sector, and the information technology sector.
The aspects to consider
Once you have decided to invest in China and clear what the opportunities are, there are some actions to take and others to avoid. We need to be aware of very long administrative times and administrative steps. Therefore, international criteria should not be considered, but we need experience in the domestic market to manage each new project. In addition, the Chinese currency must not be forgotten. One of the main aspects to consider is the financial system; CNY is one of the strongest currencies globally but has no international course yet. The Chinese currency is, in fact, a reference currency for the main international transactions but is converted with virtual systems and China remains a currency-controlled country. Each flow is monitored very differently from what happens in Western economies.
Communicate with the right strategies
Search engine Optimization(SEO) on Baidu
As a first step, a company that wishes to be found on the internet by the user must consider that the search engines used in China are different from the western ones. Both in terms of market shares and optimization logic. Thinking about optimizing your website for Google is a good idea until you pass the Wall. In China, it is completely useless. Google only collects 1.7% of users’ web searches. In its place, the market leader is Baidu, which is aimed at 70% of users.
PPC Baidu PPC
PPC Baidu PPC (Pay Per Click) Advertising is a fast, effective promotion with instant results. It provides an instant route to gaining immediately traffic to your Chinese website, helping to enhance visitor numbers, increase enquiries and win sales.
PR Media Quality Chinese PR needs to be developed for publication and disseminated via the right portals to journalists. This type of exposure in the Chinese media needs to be curated and represented in the right way. Using a quality team of Chinese copywriters is key to relaying your message.
Social Media. The Western media (Facebook, Instagram, Twitter, Youtube, etc.) are forbidden by the block imposed by the government, the so-called Great Firewall.
A parallel digital ecosystem has therefore been created, with different habits and modes of interaction by users.
The most important social media is WeChat, with mobile traffic and many features that attract more than 80% of Chinese users.
Forums. In Forums, you need to create a user to user conversations around your company and services. This is powerful as user recommendations and testimonials are very persuasive in a more collectivist Chinese society. This can include links to your landing page for lead gen but the approach here is not to blatantly advertise, rather build a reputation and generate discussion. It plays an important supportive role.
An agency allows companies to do their best: you can think of entrusting work to a single freelance collaborator, but this, though it may seem like savings, can have negative consequences. the added value of an agency is the overall vision, skills, and abilities that can not be found in a single figure.
Contact GMA if you are ready to succeed with your business in China