Nowadays when we look at China, we see a fast growing economy and market.
However, the numerous Provinces, Autonomous Regions, Municipalities and Special Administration Regions in China, with different market characteristics, represent often very different markets within the same country with different languages, cultures, business practices, and rules and regulations. This could present a challenge to prospective companies especially those which have no China trade experience.
Canadian companies, with limited resources, have to be rigorously strategic when devising their China business plans – not spreading their resources too thinly or wasting them. For starters, it may make sense for them to identify the best possible entry point into this huge and diverse market.
This best possible entry point “in China” should be able to provide the Canadian company with the right business partners, international legal system such as Common Law, and Intellectual Property (IP) security. It should also enable the Canadian company to make money and get paid.
This best possible entry point in China for Canadian companies is Hong Kong.
Hong Kong is THE international city in China. Hong Kong offers Canadian companies many advantages including freedom of movement of people, goods, capital and information. Hong Kong understands the West and the East, and many Hong Kong companies have extensive China trade experience and connections to share with potential Canadian partners and associates.
If a Canadian company chooses Hong Kong as its bridgehead for the Mainland China market or regional target markets, it will probably need to:
- Obtain market intelligence
- Find a business partner
- Go to the market
To proceed, the Canadian company can leverage on the services and initiatives provided by the Hong Kong Trade Development Council (HKTDC), Hong Kong’s statutory trade promotion agency. For more information, interested parties can contact Constance Leung, Business Development Officer, HKTDC Toronto Office, Tel: (416) 366-3594, email: constance.h.leung@tdc.org.hk or visit the portal site of HKTDC:http://www.tdctrade.com/
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