3 min read.
This is 86insider, a digital guide dedicated to readers and business leaders interested in doing business in China. We offer you our expertise in breaking down complicated norms, bringing you in-depth insights into challenges and providing you with realistic solutions to tackle them.
KNOWING OUR FUTURE
The 21st century has been marked by tumultuous uncertainties. There is, however, one thing that is irrefutable, China continues to grow as an economic giant, having claimed the world’s largest economy spot with a GDP of $27.3 trillion in 2019 (on PPP basis), according to the International Monetary Fund.
Without a doubt, with a population of 1.4 billion, the size of the Chinese consumer market is immense and offers unparalleled business opportunities for well-informed business owners who are willing to take the first step to familiarize themselves with China.
CHALLENGING TO COMPREHEND
For those who are foreign to China, the world’s most populous country may be difficult to comprehend and can come across as a puzzling and mysterious world. Unlike most of the global active users who have adopted mainstream platforms such as Google, Facebook and Netflix, the Chinese has its own bundle of social media platforms – people communicate via WeChat, surf Weibo, read Toutiao and Zhihu, shop on Taobao and Pinduoduo, and pay using Alipay.
For business individuals, the lengthy and opaque administrative procedures have been sticky challenges since day one. After all, the World Bank ranked China after other developing economies like Russia, Thailand and Malaysia on the ease of doing business in 2019. Compounding the problem is the need for individuals to wrap their heads around the complex guanxi network and imperfect information on policies and guidelines.
The Western media has not been extremely helpful in demystifying this giant in the East. It is perfectly understandable, because these publications will want to push for what they believe to be the interest of the West, or to promote their values of liberal democracy. As a result, we see disparate views of what is reported in the Western versus Chinese media. For example, the Western media vehemently denounces China for covering up the “outbreak” of COVID-19. On the other hand, Xinhua News Agency, a Chinese news agency, published a detailed timeline of COVID-19 information sharing.
We are not here to decide who is telling the truth. Here at 86insider, we want to help you to understand China better – we will bring you insights and information drawn from both international and Chinese publications so that you are presented with two sides of the same coin to make sound judgment calls.
HOW WE CAN HELP
This is the birth story of 86insider. We are a team of professionals from within and outside of China. As a collective, we have more than a century of experience working in China. Through our vast network of business owners, experts and organizational leaders, we offer to bring you a neutral and credible source of the latest happenings and insights on contemporary China, covering social norms, digital economy, technology and policies.