Accessing the Chinese Market: Best Practices

A survey was conducted to find out what Spanish firms thought they had done right to access the Chinese market. Most firms agree that adapting to the culture and the right choice of staff are the key factors to have a successful venture. A value that seems to be particularly relevant for China is patience: endurance when presented with obstacles, and allowing the project enough time as results in China take time to appear. In terms of the market, it means adapting the product to local habits. Regarding the strategy from headquarters, two factors are most relevant. In the first place, planning the implementation strategy and the kick-off and getting the best assessment one can find to study the market. Secondly, it is very important to consider the Chinese venture as something strategically aligned with the headquarters and the core objectives of the business. China is a complex and competitive market. It is also a vast territory, and it requires a physical presence. To do regular business in China, frequent travelling is not enough: it is necessary to locate to China. All this is certainly difficult to achieve. However, opportunities are still arising and China is today perhaps the most attractive market in the world.