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China's growing middle class on their biggest brands
BBC video news
China's growing middle class on their biggest brands
A girl: Western brands are more popular and they have better quality products, people love them.
A man: I don’t feel ashamed of it, it’s necessary and it might even help stimulate the development of our local brands.
A man: Western culture is slowly coming in and it’s becoming more acceptable in China. I hope we can learn more about the West.
The twenty foreign companies on our list are gaining market share rapidly. McDonalds is opening almost one new store every day in China. KFC, almost two new stores a day. But of course, when it comes to big brand recognition here, it is still the domestic companies that dominate, particularly the big telecommunication, banking and insurance giants. For foreign companies, taking these guys on is an all together different proposition.
Source: https://www.bbc.co.uk/news/business-23432723