Shanghai Study Trip – Day 1 Learnings

Shanghai Study Trip – Day 1 Learnings

Goal of this post / disclaimer

This is primarily for myself in order to learn and repeat the key takeaways from a study trip in Shanghai.

If you also can benefit from the below information fine; if not, also fine for me and my words are of course not exhaustive.

Learings and Take aways

  • Software Development in China
    • Today, already 4 year old kids in China are learning to programm and speak „the language of the computer“ just like any other languages
    • The professional software developers should watch out; at latest ba 2030 a new wave of digital natives will be coming, and it is big!
  • Doing business in China: Get your money upfront!
    • It is absolutely advisable to get at least 80% of the payment upfront from chinese customers or investors.
    • Ask yourself the question: Can you order something from Alibaba (e. g. Aliexpress) via bill? No! You’re expected to pay upfront which you also should expect
  • Doing business in China: Part 2
    • Prepare business as usual as you would do for any other position
    • Consider consulting an advisor and / or especially when it comes to contracts or legal issues, a chinese lawyer
    • Make sure to protect your IP (Intelectual Property)
  • Mobile payment solutions
    • What has been expected and promoted in many articles is absolutely true: The chinese aare so much into mobile payment; you seldomly see anyone paying with „real money“!
    • Even really small shops are ready to receive mobile payments of for example WeChat Pay (Tencent) or AliPay (Alibaba)
    • Payments are efficient and so smooth but of course; big brother is watching you
    • Impressive: The acceptance of mobile payment is the highest in Tibet, where more than 80% of payments are done by smart phone!
  • WeChat is so much more than „Chinese Whatsapp“
    • You probably knew that but it is worth repeating: There is more behind WeChat than a simple messenger!
    • The feature pack includes payment, gaming, moments, and many more
  • Artificial intelligenct
  • Is China a „need to be“ for foreign comanies?
    • 5 Years ago the answer would have been => Yes
    • Today: It depends!

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