Latest News: Business

Cracking the Chinese market requires patience and localization, Western executives say

Friday, December 21, 2018  
Posted by: Dana Walker

To break into China and expand their businesses in Asia, companies need to establish a long-


term strategy and a deep understanding of local practices, several business leaders told CNBC.

"If you want to come to Asia, and think that (you can just) turn around, bring back a bag full of money, don't make that mistake," said Hakon Bruaset Kjol, senior vice president, partner and external relations Asia, at mobile network operator Telenor. "We have seen so many companies come and try to do that. You need to be long term."

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