New start-ups becoming China’s buzz

In the last few years, China’s entrepreneurship market saw blooming amounts of start-up companies. It has been common for Chinese commerce graduates to aim at creating their own business, and plan well-ahead for their future ambitions. The competition with larger, more well-known companies , is what drives them to succeed in their career.

In 2015, there was a whopping 4.4 million new start-up companies across China, an increase of 21.6% from the previous year. According to Chief Executive at Alphawolf, Wang Naichen, the increase in company start-ups is largely influence by the politics. It has been said that government officials encourage the public to launch their own business, in some cases providing funds in order to help establish their start-up. By the end of 2015, people only had to get licenses approved by government administrators for their businesses, making procedures much easier.

However, these statistics do not prove China’s business performances. While the Chinese market is very active, the quality of business is not very high, with a lack of innovation in business strategies. These factors must be improved before further development can be made. Compared to American entrepreneurships, their start-ups are much more stable and focus heavily on effectiveness and quality. On the other hand, Chinese start-ups have been made out to be one of 10 most valuable  companies in the world.

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More information: UNSW offering startups a foot into the Chinese market at its Startup China pitching event

Top 10: start-ups worth more than $1 billion dollars

From a scale of 1 to 10, the survey shows a ranking of start-up companies, with more than $1 billion dollars in value.

Uber placed first with a value of $51 billion dollars, representing the highest-valued start-up. In fifth place, was Uber’s direct competitor Didi Kuaidi with a value worth $16 billion dollars. In last place with a value of $10 billion dollars, we see Dropbox, a memory cloud service in which users can share and store documents and files.

Passing Snapchat, Airbnb, and other Western start-ups, is another Chinese company; Xiaomi (founded in 2010), with a value of $46 billion dollars, ranking second place amongst the ten. The survey shows, amongst the top-ten global start-ups, China has taken two places, which proves China’s business strategies to still be effective.

Xiaomi

More about Xiaomi: Low-Cost Chinese Smartphone Brand Xiaomi

Top 10 Most valuable brands in the world

There’s no need to say, Apple Inc. is evidently the most valuable company in the world with a brand value of $145 million dollars, closely followed by Google with $95 million dollars value. The ranking is based on brand activity, market sales, and what the company represents. Brands in this list are considered the most attractive, competitive, and influential companies. China Mobile also stands at ninth place in this ranking, proving the company’s service and quality.

To conclude, while the Chinese economy is still developing, it can be noticed that some are standing out more than the others not only locally, but also globally. These head-strong start-ups have proven their value not only in terms of possessing excellent business strategies, but also possessing great quality of service and influential ability among their consumers and the general public.

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