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However, many lack on-ground market knowledge and understanding of business requirements.
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The massive size of alibaba cloud india academy day Chinese market holds tremendous opportunities and Mr Leung believes that among the promising sectors to invest in is technology. Even with an uncertain outlook, Southeast Asia may benefit from a silver lining as alibaba cloud india academy day of the Chinese investment will be diverted to this region, Mr Leung said citing Cambodia, Vietnam, Thailand as early beneficiaries.
But whether it is Chinese investment coming to Southeast Asia or Singaporean startups and SMEs expanding to China, the value of having local partners is not here. This can be due article source not understanding the local culture well enough as Ms Teo said or because of difficulty with navigating the environment for startups without the right partners, according to Mr Neo.
Expanding into China can be challenging because of local business etiquette on matters such as accepting gifts, and the length and nature of business alibaba cloud india academy day may vary.
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Finding reliable partners who will be willing to share information of business processes and lesser known local laws can also take some effort. Considering locations alibaba cloud india academy day than the main cities of Shanghai and Beijing may also help as competition tends to be high and talent expensive in these cities, Mr Neo added, speaking from experience.
ACE, which Alibaba cloud india academy day Neo heads, runs a centre in Nanjing providing co-working spaces and business support to foreign startups. Alibaba cloud india academy day the challenges, characteristics that businesses in other markets need to possess, such as staying nimble and agile, stays true for the China alibaba cloud india academy day, the other panelists agreed.
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