Since Shanghai was put under hard lockdown, many factories halted production. As the situation normalizes, Shanghai factories reopen to ensure economic growth and reach the planned annual growth rate for this year. China’s Ministry of Industry and Information Technology has published a “whitelist” containing the first batch of companies in Shanghai that are allowed to resume production under certain conditions.
Traveling to China requires some preparations beforehand. It is important to get ready both on the business front and on the cultural one. We can help you start by introducing some aspects which will make preparations for the journey easier. What should you remember, what should you pay special attention to, and what should you avoid?
Guangzhou (also known as Canton) is the city of the largest and the oldest trade fair in the world. A city of business that is eagerly visited by numerous entrepreneurs from around the world. The capital of Guangdong Province has over 7,6 million inhabitants. The city is continuously developed, which is why it is becoming an attractive spot on the map of China, more and more visited by tourists. Are you planning to go to Guangzhou for a longer time? Below, we present the cost of living in Guangzhou.
Beijing, the capital of China, is a city often visited by tourists. This is the second (after Shanghai) city in terms of population in China, and, in addition, one of the four separated cities, bordering the Hebei province and the separate city Tianjin. Beijing is the largest cultural, educational, and political center of the country, which often becomes the reason why the city is full of numerous tourists fascinated with China. The city is worth seeing and even staying for a little longer. What does life in Beijing look like? What is the cost of living in Beijing? Read further to find out.
International cooperation requires adaptation to the circumstances of both countries. Entrepreneurs dealing with Chinese businesspeople should be particularly aware of the irregular calendar of Chinese holidays. Those traveling to China should also be mindful of the dates of public holidays. Also, understanding what the work schedule in China looks like might come in handy. That is why it is worth knowing about the days off in China.
Shanghai is one of the most popular cities in China, willingly visited by numerous tourists from around the world. Some of them decide to go on a tourist trip, while others plan to stay there for a little longer. Many people choose to study in this big city because of the wide range of universities. There are also many people interested in working in Shanghai. So how does life look like in Shanghai? What is the cost of living in Shanghai?
Mastercard has obtained preliminary approval to create and operate bank cards in RMB. Mastercard’s activity in China is gaining access to the $27 trillion payments market (2018) as part of the financial opening of China. The new Mastercard project is a joint venture with NetsUnion Clearing Corporation (NUCC), a Chinese company that operates a payment platform for foreign companies. The preparation must be completed within one year for Mastercard to apply to the People’s Bank of China for formal approval of the start of operations.
China is the largest e-commerce market in the world. The Chinese shop online much more often than the rest of the world. Among the products that the Chinese buy online are clothes, cosmetics, electronics, and even food (more than 50% of customers). At the moment, the Chinese e-commerce market is worth over 1 billion dollars and is continuously growing. The middle class in China is growing, and so is consumption. Online shopping became very convenient, particularly when using extremely popular mobile payments. New trends and interest in foreign and luxury goods also contribute to the rapid development of e-commerce in China. Domestic products cannot meet these needs. E-commerce gives foreign suppliers an opportunity to sell their products and speeds up procedures, benefit from favorable tax policies, and, what’s most important, they don’t have to license their operations.
We present to you an interesting infographic „10 facts about e-commerce in China”.
The Chinese market is still opening up for foreign products. The development of global brands in China is gaining momentum. Leading companies have plans to open a large number of branches in China in the upcoming years. Foreign brands are popular, especially among the Chinese middle class and the young generation. The Chinese are craving the American lifestyle which results in the popularity of such brands as Starbucks, Apple, and KFC. Purchasing American products is an indication of social status and wealth.
The infographic below shows the most popular global brands in China. Among the foreign companies with the most significant number of branches in China, we can find examples of the American chains (KFC, McDonald’s, Starbucks), the European chains (H&M, Carrefour, Sephora), as well as Japanese ones (Uniqlo, Lawson).
During the last weeks several new webpages in China were blocked: the long blacklist was expanded to include Wall Street Journal and Reuters, these are not the only English-language webpages, which cannot be accessed from China.
