Digital Crew ran three webinars throughout May and June, along with Horizons Corporate Advisory, a firm providing legal and tax solutions to enterprises across world regions and legal systems.
The first webinar, Launch Your Business in China, went live on 20th May 2020 for the Australian audience and on 3rd June for the American audience.
The second webinar, Scale Your Business in China, had Daniel Xu (APAC General Manager, Digital Crew) and Lucia Netti (Regional Partner, Horizons Advisory) as the speakers. The webinar went live on 10th June 2020.
Lucia Netti is Horizons regional partner overseeing the firm’s Sino-European activities. On the other hand, Daniel Xu is the APAC General Manager at Digital Crew who is responsible for driving strategic direction and leading the team to deliver services to clients.
The Scale Your Business in China webinar threw light on why to consider China at this hour, by discussing the most encouraged sectors under the New Foreign Investment Law (FIL) such as Agriculture, Forestry, Animal Husbandry, Fisheries, Mining, Manufacturing etc.
Here are some of the key takeaways from the webinar:
- China market, which is a 1.3 billion market, is a tempting market for: a) Enterprises active in strategic sectors for the Chinese market and b) Enterprises that have a product to launch in the market (Chinese customers are waiting for products that can make a difference)
- Hong Kong or Mainland China? Where should you establish your business? To operate in China market, you need to be in the China market.
- The New Foreign Investment Law (FIL) marked the end of the Three Laws that formerly regulated foreign investment in China (PRC Sino-Foreign Equity Joint Ventures Law; the PRC Sino-Foreign Contractual Joint Ventures Law; PRC Wholly Foreign-Owned Enterprises Law) on 1st January 2020.
- The organisational form, organisational structure and activities of foreign-funded enterprises shall now be governed by the PRC Company Law (‘the Company Law’)
- Foreign investors can now directly set up joint ventures with Chinese individuals.
- The main issues to be considered to set up a legal entity in China: 1) To have a business plan, 2) To prepare the legal documents, 3) To start the constitution procedure at the Chinese authorities.
- There are two ways to register your trademark in China: 1) By making an application of registration with the China National Intellectual Property Administration (CNIPA) directly and, 2) By applying for international registration by designating China through World Intellectual Property Organization (WIPO)
- To protect your trademark in China: 1) Register your trademark at the China Trademark Office 2) Licence of the trademark to any third party that will use the trademark in China and 3) Record your trademark at the Chinese Customs office
- Live-Streaming for E-commerce annual turnover exceeded 200 billion yuan
- The in-store conversion rate is over 65%
- High level of loyalty: The average daily stay on Taobao live is close to an hour
- The major search engines are Baidu, 360 and Sogou
- Search Engine Marketing is not just synonymous with Baidu anymore
- New players like Shenma and Sogou are emerging in the market
Advertising on trending platforms
- Douyin/TikTok has the highest follower engagement rates across 100,000 user profiles
- 49.8% of market shares are owned by Meituan with 260 million active customer profiles
- Youdau holds 80% of market share with 60 million MAUs
- Over two million Chinese students are learning a second language, making them the largest language study group in the world. Youdao was listed as “the App with most commercial value” by QuestMobile
- There are 8 million DAUs for Mafengwo app.
WANT MORE INSIGHTS FROM THE SCALE YOUR BUSINESS IN CHINA WEBINAR?
Watch the webinar below and download its presentation deck here.
Digital Crew is coming up with more free webinars for businesses wanting to launch and grow into newer markets like China and India.
Check out our upcoming free webinars.