Summary of 2018 Trends and Opportunities in China You Need to Pay Attention To

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Luo Zhenyu, one of the most influential media personalities in China and the founder of paid-content app Dedao (iGet), has promised to deliver a New Year’s speech every year for 20 years. In 2018, for his third annual new year speech in this “Friend of Time” series, Luo talked about “Chinese-style opportunity.” The speech got more than 11 million views online. In this article from the tech media website Ifanr, operating editor Shen Xingyou highlights the main points of the four-hour speech. getAbstract recommends Luo's insights to entrepreneurs, global investors, economists, as well as start-up enthusiasts. 

In this summary, you will learn

  • What entrepreneurs can do to seize the business opportunities in China,
  • Why Luo Zhenyu is optimistic about the Chinese economy and
  • How Luo plans to grow his paid-content app Dedao (iGet). 
 

About the Author

Shen Xingyou is the operating editor at Ifanr, a tech media website in China that focuses on consumer goods, technology and innovation. Shen writes about business, products and lifestyle.

 

Summary

In his four-hour speech, influential media personality Luo Zhenyu focused on “China-style opportunity.” He structured the speech by asking six questions. His first three questions dealt with business opportunities in China and how entrepreneurs can seize them:  

  • If you are not yet a leader, can you still make it onto the stage? – Small enterprises contribute to China’s economic growth like the self-propelled carriages of the electric multiple unit (EMU) train: The energy from each individual carriage collectively drives the whole train forward. Big brands are making their way to second- and third-tier cities, and innovations are starting to come out of those same cities. These underserved local markets provide enormous opportunities for start-ups as well as established companies. Capable Chinese companies that struggle to compete with established tech giants at home should tab opportunities abroad – in Southeast Asia, the Middle East and Africa. 
  • If you are new to the market, how can you break through? – The Chinese market is like a tropical rainforest: a vast...