To capture market opportunities, it's now time to "double down on China" as foreign brands need to change their playbook to succeed, said Bruno Lannes, a partner at global consultancy Bain and Company.
To date, Liu's company manufactures over 300 types of chalk and produces 15 billion units per year on average, with 80 percent exported to other countries. Clients from South Korea, Singapore, and Japan are at the top of the list.
To better meet the demand of Chinese customers, the family-owned German firm started factory operations in Changshu, Jiangsu province, in early November. It is its third factory in China. The facility will seek to provide better-quality products to its Chinese customers. This project represents a total investment of 50 million euros ( million).
Timothy Laryea, an international student from Ghana, West Africa, recently recorded the Zhongjie Street in Shenyang, Liaoning province, with his video camera to share a bit of authentic China with people in his hometown.
To enhance the domestic penetration rate, the ophthalmic optics specialist has combined efforts of adding physical outlets with the better leverage of the internet, which Dumas deemed a more efficient way to educate consumers.
To be sure, low prices alone won't persuade consumers to migrate to the new tech, experts said. Quality is key, though more and more consumers appear to be open to buying latest electronic products.
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To Weng, the promotion is flawed. "We work with legal ivory, not tusks from illegally slaughtered animals. Sure, those thousands of elephants should be protected, but what about all the ivory carvers? Doesn't anyone care about the extinction of our art?" he asked.
To ensure world-class quality and quick response to the local needs in China, a carmaker launched research and development facilities, including newly built test track with a longest dust tunnel in the industry, on Thursday.
To cater to Chinese travelers, Tujia lists more than 1.2 million homes across 400 Chinese cities and 1,037 overseas destinations. It offers apartments, homestays, villas and other travel services, ranging from family tours, business travels, vacations, team-building tours to short-term transitional renting.
To change the situation, some Chinese automakers are seeking to explore overseas market.