From guanxi to digital-first markets, Hungary-born entrepreneur Steven Back is spilling insights on why adapting to China’s unique business culture is a game-changer. 🚀 In an exclusive chat, he breaks down what global startups need to know before diving into the world’s second-largest economy.
\"In China, relationships aren’t just networking—they’re currency,\" Back explains, referencing the concept of guanxi (social connections). Unlike Western business norms where deals might close over emails, he emphasizes face-to-face trust-building as non-negotiable. 🤝
Here’s the tea: China’s hyper-digital landscape also demands agility. With 90% of consumers using mobile payments, Back notes, \"If your business isn’t WeChat-ready, you’re already behind.\" 📱💰 He also highlights the importance of localizing products—not just translating packaging but resonating with cultural trends like guochao (China-chic).
For young entrepreneurs eyeing cross-border growth? Back’s advice is simple: \"Listen first, innovate fast, and respect the rules.\" 🇨🇳🌐
