China is synonym of copying. If you want any product, the Chinese can copy the exact same product and deliver it to you faster, cheaper and sometimes more customized than the original one. But is it still only synonym with copies and cheap products?
As other Asian countries emerge as the new cheap place to produce, Chinese labor costs become more expensive in comparison. Vietnam, Malaysia and Myanmar are gaining in popularity when looking for low costs. China still has a lot to offer those other countries can’t; huge workforce, the Know How, infrastructure, and low lead times. But, still the Chinese have to find new ways to differentiate themselves from new competitors. With years of experience behind their backs, Chinese companies are starting to invest more money in R&D, developing new products and software and becoming the leaders in some specific markets.
New technologies are being created by these companies. Drones, hover boards and electric cars are very common in the day to day life of Chinese citizens. Virtual Reality is another industry the Chinese are taking the lead, with lots of suppliers, you can find a wide range of VR products from VR targeted to kids to VR Videogames. And, some companies are even developing robots. During the last edition of the Electronics Fair in Hong Kong we could see nursing robots and maid robots. And we should not forget the now infamous restaurant chain in Southern China that uses robots as waiters.
But it doesn’t end there. Even for other daily products, Chinese companies are investing in R&D, creating their own designs. No longer you go to a furniture supplier and find some cheap Ikea copy. Right now they sell high quality products, designed by them and those products can compete with other products sold by any European furniture store.
The best thing about Chinese suppliers is they have the resources to produce anything. For some products you can even get a new sample made in less than a day. That’s really fast and still cheaper than buying from other countries. So, even with new competitors, China still remains the factory of the world.
Remember to make sure your order will be a successful order using a third party company to ensure the quality of the products. From SBE we can help you with your business in China and make sure you can do all the buying process without any hustle.