When we started our operations, many companies and organizations were looking for solutions to enter the often murky China markets. How to deal with consumers, governments, competitors and questions related to the country’s developing economy?
Many of the larger and middle-sized foreign companies now have their operations going in China, often hired and employed Chinese staff, and got a better handle on the country. And China itself has entered an area of normality that would have been unthinkable ten years ago, despite regular complaints from foreign companies.
But the perceived challenges, are now of a different dimension. China is becoming an innovative nation, offering disruptive technologies, unsettling traditional industries. And while most disruption took place in China itself, the relatively slow economic growth is forcing Chinese companies to look to the rest of the world. That change reflects profoundly in the demands we get from our clients.
And gaining a market share in countries where established internet companies are already present might not be easy for Chinese companies.
Here we offer you an overview of the top-8 Chinese innovations that might disrupt your industry in the years to come, and where China has already made huge advances.
- Mobile payments, wiping credit card and banking services away; Alipay has 80% of the market, based on Alibaba’s giant following. Can it be copied elsewhere?
- Online mapping services, offering discounts, payment services and reservation models.
- Chatting services develop into profound platforms, offering a wide range of services. WeChat is changing traditional marketing and their features are already being cloned by Facebook Messenger.
- The Chinese style of organizing successful companies: the end of the middle management (Haier, Tencent, Huawei) and a strong focus on consumers.
- insurance: P2P models are taking over old-style insurance models
- Crowdfunding: larger internet companies have taking over VC-style and traditional bank lending in China. Can this trend develop also outside China?
- Self driving electric cars: traditional car companies are losing their competitive edge, while internet companies in both the US and China are fighting to conquer the markets first.
- The Internet of Things: Huawei has become the fastest growing for handsets and other mobile connections, taking on now Samsung and Apple successfully.
In the coming months we will flesh out some of the subjects here, and offer suggestions for speakers who can cover these disruptive developments. Otherwise, we wish you all the best in the upcoming year of the ape.