Story of the day is the Shanghai’s new Free Trade Zone might allow Twitter, Facebook and other western social media on the internet. About time, says business analyst Shaun Rein in CNBC as the current limitations hurt the competitiveness of Chinese companies.
Shaun Rein, managing director of China Market Research Group said lifting a ban on internet access to websites such as Twitter and Facebook is crucial for Chinese companies that are looking to establish a presence globally.
“It’s clear that the lack of internet access is hurting Chinese companies from a competitive standpoint. They don’t have a presence on Facebook, Twitter; they don’t know how to launch marketing campaigns around the world,” Rein said. Facebook and Twitter have been banned on the mainland since 2009.
Increasing competition in the telecom space will also be positive for the entire country, Rein said. “It will push Chinese telcos to become more market savvy. They haven’t had competition to push them to innovation and new services. Internet access is very slow here on mobile phones and in the home.”
“I expect a lot of telecoms companies to invest, it’s a good [opportunity to penetrate] the China market,” he added.
Shaun Rein is a speaker at the China Speakers Bureau. Do you need him at your meeting or conference? Do get in touch or fill in our speakers’ request form.
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