Page 7 - SCBJ-201509
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August-September 2015
this ease does not simply apply to the consumer. to their advantage. Tencent has now enabled users to pay their
Brands are able to bridge the gap between attracting utility bills through WeChat, and more and more businesses
new consumers and engaging with paying consumers, are finding a way to use WeChat mobile payments to grow their
which has already begun to change the face of shopping business and attain a competitive advantage.
and retailing worldwide. Businesses utilizing WeChat
payment systems are already experiencing huge profits, Conclusion
and Tencent has stated that several official accounts
are now making over US$1 million. Not only can It is crucial for foreign businesses entering a new market to take
consumers purchase items, but can also purchase services inside advantage of domestic trends in order to be competitive in that
WeChat. Businesses with service accounts can take advantage of marketplace. Mobile commerce in China is constantly evolving
WeChat’s online-to-offline (O2O) business model. Both online and businesses like WeChat are revolutionizing how business
and offline purchases are available to consumers. Customers is conducted. WeChat allows both big name brands and SMEs
can either pay for services or items by scanning the QR codes to compete in the same market space which has the ability to
of products provided by offline retailers, or pay on web pages change the entire industry. Entering the Chinese market has
inside the app. its difficulties, but applications like WeChat make it easier for
foreign investors to communicate effectively with their Chinese
All vendors, from big name brands to small and medium-sized consumers.
enterprises are able to create service accounts in WeChat.
Big name companies like McDonalds, Starbucks, Xiaomi,
Watsons, and Pacific Coffee have all created service accounts.
WeChat allows all vendors the potential for success and the
ability for SMEs to create accounts is an important aspect for
foreign investors to capitalize on. Certain industries, such as
food, beverage and retail, tend to generate more profit as they
are more primed for mobile commerce. That being said, taxi
companies, airlines, newspapers, government organizations,
and pharmaceutical companies are all using WeChat payments
Since its establishment in 1992, Dezan Shira & Associates has been To schedule a free consultation on how your business can benefit
guiding foreign clients through South China and the rest of Asia’s from the latest regulatory changes in South China and other regions,
complex regulatory environment and assisting them with all aspects please contact Mr. Fabian Knopf at +86 186 8248 2506 or email us
of legal, accounting, tax, internal control, HR, payroll and audit at guangzhou@dezshira.com. Further information about our firm,
matters. As one of the most experienced and longest established please visit: www.dezshira.com.
practices in the Pearl River Delta with over 70 professionals well
versed in practical China knowledge, we are your reliable partner
for business expansion in this region and beyond.
5
this ease does not simply apply to the consumer. to their advantage. Tencent has now enabled users to pay their
Brands are able to bridge the gap between attracting utility bills through WeChat, and more and more businesses
new consumers and engaging with paying consumers, are finding a way to use WeChat mobile payments to grow their
which has already begun to change the face of shopping business and attain a competitive advantage.
and retailing worldwide. Businesses utilizing WeChat
payment systems are already experiencing huge profits, Conclusion
and Tencent has stated that several official accounts
are now making over US$1 million. Not only can It is crucial for foreign businesses entering a new market to take
consumers purchase items, but can also purchase services inside advantage of domestic trends in order to be competitive in that
WeChat. Businesses with service accounts can take advantage of marketplace. Mobile commerce in China is constantly evolving
WeChat’s online-to-offline (O2O) business model. Both online and businesses like WeChat are revolutionizing how business
and offline purchases are available to consumers. Customers is conducted. WeChat allows both big name brands and SMEs
can either pay for services or items by scanning the QR codes to compete in the same market space which has the ability to
of products provided by offline retailers, or pay on web pages change the entire industry. Entering the Chinese market has
inside the app. its difficulties, but applications like WeChat make it easier for
foreign investors to communicate effectively with their Chinese
All vendors, from big name brands to small and medium-sized consumers.
enterprises are able to create service accounts in WeChat.
Big name companies like McDonalds, Starbucks, Xiaomi,
Watsons, and Pacific Coffee have all created service accounts.
WeChat allows all vendors the potential for success and the
ability for SMEs to create accounts is an important aspect for
foreign investors to capitalize on. Certain industries, such as
food, beverage and retail, tend to generate more profit as they
are more primed for mobile commerce. That being said, taxi
companies, airlines, newspapers, government organizations,
and pharmaceutical companies are all using WeChat payments
Since its establishment in 1992, Dezan Shira & Associates has been To schedule a free consultation on how your business can benefit
guiding foreign clients through South China and the rest of Asia’s from the latest regulatory changes in South China and other regions,
complex regulatory environment and assisting them with all aspects please contact Mr. Fabian Knopf at +86 186 8248 2506 or email us
of legal, accounting, tax, internal control, HR, payroll and audit at guangzhou@dezshira.com. Further information about our firm,
matters. As one of the most experienced and longest established please visit: www.dezshira.com.
practices in the Pearl River Delta with over 70 professionals well
versed in practical China knowledge, we are your reliable partner
for business expansion in this region and beyond.
5
