28th FFHS Business Breakfast
The topics “Chinese Economy” and “Business with China” can be found in the newspapers almost daily. The close cooperation between Chinese and Swiss companies promises innovation and technological progress. At the 28th Business Breakfast, the speakers provided information on the implications for Swiss companies in “Business with China”.
Route2China founder and director, Min Wang, was invited as one of these speakers.
Min has already helped many companies make their way to China. She demonstrated China’s potential for the Swiss market, namely the strengthened consumer power of Chinese society and its affinity for high-quality products “made in Switzerland”. She also highlighted the fierce competition and China’s goal of establishing the “Made in China” seal of quality. Min Wang emphasised the speed and determination with which China is implementing its goals, which must be taken into account when entering the market. Additionally, there are also aspects such as the consideration of hierarchical structures and the effort not to expose anyone and risk losing face. Guanxi – the network, is the driver of business and without the right relationships a business endeavour is categorically not feasible.
Is China an opportunity or a threat? In the survey preceding the Business Breakfast, about two thirds of the guests clearly or rather considered China as an opportunity.
Nevertheless, doubts were raised about the dependence and the need to reduce it. Subsequent business models for entering the Chinese market or even consulting alternative markets like India could reduce these dangers. But the consensus was that a closed economy and ignoring China would not help anyone – neither China’s interests nor the trade prospects of Swiss companies.
For more information click here: https://www.ffhs.ch/de/ffhs/news/artikel/2020-09-18-28-ffhs-business-breakfast