3 steps to export success in China
Is the Year of the Dog the year you grow your business into China? China is Australia’s largest trading partner, and buys almost a third of Australia’s annual exports.
With advances in technology and the ease of use of platforms such as Alibaba exporting to China has never been easier or timelier.
1. Build your networks with key partners
Networks can encompass everything from friends, peers and other companies operating in similar markets, business professionals, advisers and mentors, government contacts and market partners.
Arguably, your market player is the most important contact you’ll have if you are to successfully export to China. In such a large market, you need partners who know how to fast track your progress and know how to provide your product to your target market.
2. Understand your financial requirements
3. Recognise cultural differences
For example, building strong relationships and trust before closing a deal is very important in China – and often this happens over a series of dinners with senior business executives. You should think about the costs required in entertaining your prospective business partners.
Another tip is that business cards are crucial in China – and it pays to have your card translated in Chinese. In Australia, business cards are sometimes overlooked and are often seen as an accessory. In China they are more important and play a large role in creating good first impressions.
For further information on exporting to China download our free Exporting to China eBook.