China is the second largest economy, second only to the US, has been making a lot of investments and financial moves that could further improve the financial state of their country. Recently there have been talks about changes that could be made for its business relations with the US. When it comes to their neighbors in Asia they have been increasing their investments in neighboring countries especially in Southeast Asia while the US has shifted focus in foreign relations. Recently China has been making programs that would help its neighbors in Asia which in turn could open even more doors for their business.
China has been on the offensive recently on the business side and not just with their investments in neighboring countries. Chinese companies have also shifted their attention to some of US companies ranging from appliance companies, IT companies, and even entertainment companies. Chinese companies have started to buy into and even own parts of US companies from these fields. In addition to these moves made by Chinese companies, significant advancements are also being made by China with companies in the technology sector. The rise of Chinese brands in the tech market can now be seen in the field of mobile phones, cameras, computers and accessory for different gadgets. Just in mobile phones, alone brands like Xiaomi and Huawei have already made its way in the US and their flagship phone is even considered as a contender to the iPhone.
The technology of Chinese companies has potential to make its way into global markets and Chinese technology companies have the capital to branch out from their local market but the question is whether other markets are open. For smaller countries China might be able to penetrate the market easily but when it comes to other countries like Japan and Korea who are also known for their technology. Especially with the recent issues with Japan over the Nanjing Massacre and the tendency of the Japanese to choose local products over imported ones, China might have a hard time penetrating the market and promoting their already dense markets. Japan being a country with some of the top companies when it comes to technology; it could be one of the challenges that will be faced by the tech companies of China.
Aside from its progress in hardware like mobile phones and other gadgets a lot of companies from China are also gaining popularity. One of these companies is Alibaba which is known as the counterpart of Amazon. It has also started to expand with online payment system through Alipay. In the side of social media, WeChat has caught the attention of a lot of people due to the features and ease of function of the app. WeChat has also started development on its other functions which show a lot of promise. It is considered as one of the contenders of social media apps, especially in Asia. These are just some of the progress Chinese companies have made which show advancements not only in hardware but also in software.
If China wants to further introduce their brands and extend their companies outside the country, clearly it would not all depend on the product. Business relations will have to smoothen out and issues would have to be avoided just like that with Japan which could be considered as one of the top countries in terms of technology today. However, despite these issues, it is still hard to ignore the capability of China. Brands from China are slowly making their way into the global market and their products are starting to gain traction. It is only a matter of time before China becomes one of the top players in the tech industry if their progress continues.