Why does Chinese localization matter?

Why does Chinese localization matter? The Chinese market has become so significant to many international corporations, including American companies, that leaving is no longer a viable option. Therefore, the need for Chinese translation is steadily expanding. Businesses that want to grow their market in China must have Chinese translations. So, Why does Chinese localization matter? Scroll down to see the five reasons listed in this article. 1. Market attractiveness and growth potential With a population of roughly 1. 4 billion, China's Gross Domestic Product (GDP) jumped by 8. 1 percent in 2021, exceeding most market predictions and the government's initial objective of "over 6 percent growth”. China's economy has already overtaken all 27 European Union countries, with a total value of $15. 73 trillion US dollars. Furthermore, thanks to its well-developed industrial chain, China has the ability to manufacture necessary products for trading partners, whereas many other parts of the world are experiencing factory closures and cargo congestion. Since 2015, China has had the world's largest middle-class population, with 400 million individuals in 2018 and predicted to reach 1. 2 billion by 2027, accounting for one-quarter of the worldwide total. As a result of the market mentioned above benefits, localization for investment in the Chinese market is a fabulous way to broaden the range of industries that firms should explore. Use this market power to your advantage by providing high-quality, carefully localized Chinese translations. 2. Preferential policies for FDI investors China has fulfilled most of its responsibilities to encourage FDI into China through committing to trade and investment liberalization under WTO rules. Among the primary goals, China believes luring FDI to be critical for the development of commercial activity in the country. By installing preferential tax policies and specific incentives for foreign-invested firms, The Chinese government has consistently removed negative barriers to foreign investment. Notably, these commitments, particularly in the service sector, have greatly increased this market access under the foreign capital investment program. This not only helps to stabilize the flow of investment cash, but it also encourages foreign companies to localize their products and services in China. Manufacturing, telecommunications, life insurance, retail distribution, and securities are among the industries that benefit from these advantages. Thus, it also resulted in the establishment of the Chinese translation industry, which was created to address this need. 3/ Loyalty to the native language Despite years of efforts to integrate the English language into Chinese educational systems, Chinese people's ability to communicate properly in English is extremely limited. According to some figures, less than 10 million Chinese, or less than 1% of the mainland Chinese population, can communicate in English. This indicates that China has a lower English proficiency index than other countries in the region with high English proficiency, such as Singapore, the Philippines, and others (ranked by proficiency index English of EF 2018). In conclusion from such studies, it is clear that the mother tongue is a traditional value that the Chinese take seriously. If you just communicate with Chinese people in English, you will be missing out on a big amount of prospective buyers in China. So, one of the aspects that should be encouraged in this country is good adaptation and conversion of the mother tongue. Localization in this market for businesses is easier than ever before by using precise Chinese translations for every document and website. 4/ Behavior of using search engines To access western websites such as Google, Facebook, Twitter, Instagram, and WhatsApp; Chinese users must first set up a VPN (Virtual Private Network). Due to a variety of political issues between China and Western countries, certain platforms and search engines are currently prohibited in China. Therefore, the birth and widespread use of China's biggest domestic search engines and social networks, such as WeChat, Weibo, Tiktok, Baidu, and others, has satisfied the majority of Chinese customers' search needs. With such advancements, it is apparent that such popular search channels are conducted in Chinese. If you post material in English on these search channels or social media sites, the percentage of your intended audience will be small. With China's manufacturing and e-commerce strengths, it's no surprise that Chinese customers prefer to buy things in their own language. 5. The Internet and smartphone growth According to Statista, by the end of 2021, more than one billion individuals in China will access the Internet via mobile devices, up from 986 million at the end of 2020. Thereby, we can see that China is one of the countries that prefer internet and smartphone devices (accounting for one-fifth of global users). With the positive milestone in the number of smartphone users, online purchasing behaviors for objects in China have been fostered. Thus, foreign enterprises that adapt well to purchasing trends on Chinese e-commerce platforms can reap significant profits when bringing in localized items. Create eye-catching marketing campaigns and precise Chinese translations to lower your investment barriers in this region. To summarize, the potential for localizing items in the Chinese market is enormous. Professional Chinese translation services should be used by businesses in order to have high-quality papers for communicating with Chinese customers. With a dedicated and skilled customer care approach, GTE Localize offers a safe and optimal alternative for Chinese translation for customers. Our staff of translators at our organization is highly valued by our customers for completing a variety of papers in Chinese translation. Please get in touch with us if you're seeking for a reliable Chinese translation partner.