I think there are multiple challenges when you’re approaching China as a potential market.
The question of whether or not you have a market is probably secondary. All markets in China are fairly big, as you can imagine, because of number games.
The difficulties are finding the right entry point, channels, partners if you need them. Also, defining your value proposition and really understanding in a B2B or B2C setting how do you connect to the consumer.
There are also the mechanics, more technical, of being in China, having the resources, finding the right environment and deals.
Very often the first issue people face is the knowledge or perception gap. With the fact that China’s leapfrogged in certain aspects, fintech, digital payments and digital life in general, it’s sometimes hard to see at which point to catch the fast-growing train.
Pascal Marmier is Vice Consul General (Innovation) & CEO, swissnex China