The View from China
On the eve of the Year of the Tiger, I’m proud to present a new blog to readers which will give regular updates on the events and opportunities within the Chinese ecommerce scene. Here, I aim to give an insight into doing business in China and an insider’s eye into the world’s most exciting emerging market.
International ecommerce and ecommerce technology have been my passion for the last two decades. After leaving the security of senior management at Microsoft and Cisco I decided to go it alone. My first company, online consumer marketplace Joyo.com, was acquired by Amazon in 2004, and that same year I founded DHgate.com. My purpose was to create a platform which connects SMEs to the manufacturing hub which is China, and therefore level the playing field.
Despite the global financial crisis, 2009 was a great year for China. GDP growth for 2009 was 8.7% and the country’s manufacturing activity accelerated in December at its fastest pace in several years. Foreign exports rose to US$130.7billion, up 17.7% year-on-year, and analysts expect that the Chinese growth momentum will continue in 2010. Although the Chinese Government is playing it down, it has been confirmed that China has overtaken Germany as the world’s biggest exporter.
As an increasing number of Chinese businesses, large and small, are setting up wholesale and manufacturing operations online, I believe that there are now great opportunities for US retailers, particularly SME’s, to source products directly from China.
Recently, as part of its extensive stimulus packages, the Chinese government has implemented a policy to spur the growth of SME manufacturers and suppliers throughout China. In particular, it has directed local and provincial governments to encourage emerging industries through reform, assistance with market access and fostering local banks to provide finance to expanding businesses.
At DHgate.com, we have seen a surge in the number of Chinese SME manufacturers and suppliers who have migrated online. As these numbers grow, so do the opportunities for US retailers to be cost effective. I believe that there has never been a better time for US retailers to take advantage of the Chinese online sourcing market.
Because of this, I believe it is timely to introduce a blog on the Chinese ecommerce scene which will post regular updates on the ecommerce market in China with a particular emphasis on B2B sourcing.
The regular reports will focus on issues such as trends, new platform innovations, technological and other improvements and government initiatives and policy developments. I will also address pressing consumer issues such as product quality and safety.
This post is filed under The View from China and has the following keyword tags: China, sourcing, wholesale, suppliers, manufacturer, ecommerce.
