Technological progress and the right key players in the market are a must when it comes to China
There are 892 million potential buyers in China.
By 2020, Shanghai will be the first city in the world to have a complete 5G coverage.
By the year 2030, 480 million Chinese are said to have reached the status of the upper middle class up to the upper class.
In 2018, the E-commerce volume in China was worth 4.2 trillion euros with a nominal growth rate of about 21%.
Only about 40% of Chinese rely on brands from their country. Therefore, brands, especially from Germany, have a very high priority.
The biggest event of the year is the double 11. In 2019 it reached a volume of 38.2 billion euros. The order volume was 1.3 billion orders.
Alibaba, Taobao, TMG, Kaola, Pinduoduo, JD, Xiaohongshu, Zhihu, weibo, wechat, TikTok (Douyin)…. and new portals are constantly being developed.
In China you have to distinguish between two areas:
- Cross Border E-Commerce: Simplified laws and regulations apply here.
- China Mainland: Is the main market with more complicated registration regulations and stricter laws.