With more and more international commerce activities, Chinese market is becoming active around the world. China’s foreign exchange reserves rose $5.8 billion, or 0.19 percent, from a month earlier to $3.1179 trillion at the end of July, announced by China central bank this early time of August. The increase followed a month-on-month rise of about $1.5 billion in June, according to the People’s Bank of China (PBOC).
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Stable value of the Forex reserves last month came amid steady capital flow across borders and generally balanced Forex market in China, according to a State Administration of Foreign Exchange statement.
China’s Forex market remains stable
Even though since the beginning of the year, the external environment has become more complicated and uncertain, China’s Forex market still remains steady as domestic economic fundamentals and policy framework remain stable.
China’s Forex market has not shrunk because of the recent US-China trade war with a more volatile international financial market, rising US dollar exchange and interest rates, and aggravating trade frictions.
Challenges of trading Forex in China
The Forex market is lucrative for foreign business but it still got challenges due to strict rules for western companies that want to lead Forex trading business in China.
The technical system in China is very different from other international models and this can lead to complexities which may affect Chinese economy growth.
Experts see the Forex trading as a risky market which could bring a lot of instability to the Chinese economy as many Chinese people are involved in this market (the potential to loose a lot of people’s savings).
How to develop your Forex business in China
Be Visible on the Leading SEO in China
In China, Baidu is dominating the market of the search engines with more than 80.6% of market shares. This means your business had to be visible on Baidu and rank with a high position on the list.
Be aware, Google is banned in China. The most important search engine of the world is censored that’s why Google arrive in last position with only 4.4% of market shares.
Because more than 6 billion of researches are doing researches everyday on Baidu and Baidu is used by 570 billion users and Baidu app-Baidu Search by 100 billion users, it is initial to make sure your business’s website or any information present on SEO.
Put Efforts on PR
In China, professionals read specialized press online. Specialized press relations are good tools to build an effective marketing strategy. They allow you to inform professionals of the quality and reputability of your products and services.
Press relations in China are one of the most cheapest and effective communication means to build a good image and gain awareness.
Chinese online media are good links of information to promote your company in China mainland. The challenge of press relations is to be the best in this media war and to create a good relationship with journalists.
However, be careful, press relation in China is different than in your own country. In China, control is still present and many companies suffered of censorship.
Target Your Clients Through WeChat
With more than 800 million registered users, WeChat is a convenient method to establish the online ecosystem for your business with accurate and relevant content. One of the most popular social media platforms in China to build a community on is Wechat. On your Wechat official account you can talk about politics, economics and everything related to Forex and attract your audience attention.
Specifically there are two types of segments you want to share with on WeChat:
Customers who are unfamiliar with Forex trading market. The market might be too complex and they might feel completely lost because of complicated figures and explanations. You need to educate them and make it simple for them to understand.
Investors who are familiar with Forex trading agencies and who look for advanced tips and information. The content you will need to provide will be more niche and technical.
Get More Information on Q&A or Forums
Chinese people love to talk about finance and business. With the rapid development of internet and related forums, you can find a lot of amazing or latest ideas and opinions in these forums and Q&A platforms, such as Zhihu, Baidu Zhidao.
Gentlemen Marketing Agency is specialized in the digital marketing in the Chinese market. Do not hesitate to contact us if you want to discuss any projects in China.