It sounds odd to hear from the managing director if the Chinaccelator in Shanghai, but William Bao Bean sees it as a success when startups decide to avoid the China market and explore other markets. “Interestingly enough, the greatest help that Chinaccelerator can give to start-ups considering China is convincing them otherwise,” he tells Inc-ASEAN.
Category Archives: internet
More Chinese internet users are looking for good answers and are willing to pay for it. Paid Q&A apps emerge in China and business consulent Andy Mok discusses at CGTN America their business models and their chances to succeed.
China is becoming fast one of the most innovative markets, explains Shanghai-based managing director William Bao Bean of the Chinaccelerator. Fintech and mobile will leave their marks on 2017, he explains to a non-Chinese audience. While startups have a hard time to find funding, 9% of the startups in Shenzhen get one million US dollar in funding. In stead of joining foreign multinationals, young Chinese prefer now an entrepreneurial career.
Internet giant Alibaba paid US$2.6 billion for the retailer Intimate group, another sign Alibaba wants to leverage its online presence to brick-and-mortar retail operations, says retail analyst Ben Cavender to Reuters. Earlier it bought also leading retailer Suning.
If at any place the switch from brick-and-mortar is going fast, it is China. Permanent online consumers comment, exchange information, and buy 24/7. When you sit down in a restaurant, you first ask the code for the free wifi, before the menu. When you travel abroad, you constantly discuss with friends and family back how, what to buy, or what not to buy.
Sino-American China veteran and rock star Kaiser Kuo will return to China in February and March 2017 for several visits. It will be the first time for him to visit after he left his job as communication director at internet giant Baidu earlier this year. He will visit Shanghai for a speech in the third week of March 2017.
WeChat has been for long the golden grail for marketing to China´s consumers. But those days are over, says innovation expert William Bao Bean, director of the Shanghai-based ChinaAccelerator to TechNode. Marketing needs more platforms than WeChat, although the Tencent tool is still an important center piece.
Mark Zuckerberg caused quite some controversy when plans emerged to censor Facebook to facilitate a possible return for the company to China again. Whether you agree or disagree, the way China censors the internet is more than just blocking a few Western sites, and will not go away, says internet expert Kaiser Kuo in ChinaFile.
Following their Western counterparts, Chinese companies like Alibaba and drone maker DJI turn back to brick-and-mortar retail operations. Chinese consumers are becoming more demanding, says business analyst Shaun Rein to Bloomberg, and while previously sloppy service was common, now standards are going up.