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The Chinese market remains attractive
There is an opinion that the favorable period for foreign companies operating in China is over.
But Jeffrey Towson, a professor at Peking University and co-author of The One Hour Book on China, believes the Chinese market remains attractive.
In an interview with the Xinhua News Agency, he expressed the opinion that regulatory legislation has become clearer and more transparent, and consumers are buying more than in previous years. “Before, people didn't have enough money. Now they have started making money, and the market itself has become simpler and more accessible to the consumer, ”said Towson.
Competition between foreign and local companies may increase, as the latter began to invest more in marketing research and innovation. And foreign entrepreneurs are worried about the influence of the government on the Chinese market. However, Jeffrey Towson believes that this should not be feared. “Competition determines your success, and it’s about competition that you should think about,” he says. Of course, in some industries, such as telecommunications, the government plays a more prominent role. But in other areas of activity, such as the provision of services or the restaurant business, its influence will not be significant. Towson adds that the influence of the government on the domestic market is noted not only in China, but also in Africa, some European countries and in various sectors of the economy of the United States.
Chinese Internet companies are also showing rapid growth. For example, online sites Tmall and Taobao, owned by Alibaba Group, in one day 11 in November last year conducted transactions totaling 35 billion yuan ($ 5,68 billion).