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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 Book of China for One Hour, believes that the Chinese market remains attractive.
In an interview with Xinhua News Agency, he expressed the opinion that the regulatory legislation became clearer and more transparent, and consumers buy more than in previous years. "Previously, people did not have enough money. Now they have started to make money, and the market as such has become easier and more affordable for the consumer, "Towson said.
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).