How to make money from China, Taiwanese-style
Firms were quick to seize their chances when China finally opened up
After defeat at the hands of the Communists in China’s civil war in 1949, the Nationalist forces of Chiang Kai-shek fled to Taiwan.
They lived with the constant threat of invasion through the Chairman Mao years. But despite that history of enmity, Taiwanese firms were quick to seize the economic opportunity presented by cheap mainland labour when China finally opened up 30 years ago. The Taiwanese leveraged their linguistic ties and opened factories on the mainland. And now, in the wake of a landmark 2010 trade deal with Beijing, some smart Taiwanese firms are in a good position to sell to the mainland Chinese consumer.
Apixia is a firm that manufactures digital dental imaging hardware, which is cheaper and more convenient than the clunky old X-ray machines. They see big opportunities from selling into mainland China. “There are 60,000 licensed dentists in China today but they will have 450,000 in 10 years,” says chief executive Douglas Huang.
Taiwanese firms also have a strategy to deal with China’s rampant piracy: ignore it and focus instead on quality. Ozaki is a firm that manufactures innovative cases for iPads and other accessories for Apple products. “[Chinese piracy] is impossible to stop,” says Ozaki’s boss and founder, Freeman Liu. “The fakers are very, very small. When you catch them you can’t find the boss. So we focus on creation instead.”
It’s a message echoed by Papago!, a manufacturer of sleek video cameras for car dashboards which are designed to help drivers prove they were not responsible in accidents. They face a market of cheaper replicas in China. “We can’t compete on price so we try to offer something more to customers,” says spokesman Rex Hou.
Taiwan is also reaping the benefits of tourism from mainland China. “Most of the boutiques in Xinyi [the financial district] would not be here if not for mainland Chinese tourists,” remarks one local with a smile.
For many Taiwanese, business will always come before politics.
- 1 I've been called an abusive and dangerous parent, when all I did was listen to my transgender child
- 2 Migrant crisis: Greek soldier saved 20 people singlehandedly off Rhodes beach
- 3 Sofyen Belamouadden murder: The inside story of a crime that horrified Britain
- 4 Company breaks open Apple Watch to discover what it says is 'planned obsolescence'
- 5 Ian Brady: Moors murderer announces his support for Ukip and the SNP
Migrant crisis: Greek soldier saved 20 people singlehandedly off Rhodes beach
Russian hack of President Obama's emails worse than previously admitted
Ian Brady: Moors murderer announces his support for Ukip and the SNP
UK weather: Britain braced for snow as arctic air mass moves in
Nepal earthquake: US Pastor Tony Miano sparks outcry by suggesting Nepalis should not rebuild their 'pagan shrines'
General Election 2015: Chuka Umunna on the benefits of immigration, humility – and his leader Ed Miliband
The sickening truth about food banks that the Tories don't want you to know
Migrant boat disaster: Ukip candidate mocks victims in sickening Twitter post
Nigel Farage wants the BBC to stop making programmes like Doctor Who, Strictly Come Dancing, and Top Gear
Global warming: Scientists say temperatures could rise by 6C by 2100 and call for action ahead of UN meeting in Paris
General Election 2015: Britain would become a 'communist dictatorship' under Ed Miliband and Nicola Sturgeon, claims wife of Michael Gove
iJobs Money & Business
£24000 - £26000 per annum + benefits : Ashdown Group: A highly successful, glo...
£50000 - £55000 per annum: Ashdown Group: Business Analyst - Financial Service...
£18000 - £23000 per annum + OTE £45K: SThree: At SThree, we like to be differe...
£20000 - £25000 per annum + competitive: SThree: Did you know? SThree is the o...