Chinese business attracts Dallas
It seems that Dallas and Texas are totally different but China and Dallas, Texas have lots in common. Both are expanding economically whatever kind of hard condition they are under. China is growing much faster than any countries in Asia, while Dallas got less hurt than other cities by the economic slow-down. And both China and Dallas are obtaining new trade opportunities in the globe.
Karl Zavitkovsky, director of the Dallas Office of Economic Development, said the city has got trade opportunities in 21 Chinese cities in the past three years.
The city has focused on smaller cities with populations of 7 to 10 million people. “There are unlimited trade opportunities between cities that aren’t being tapped right now,” Zavitkovsky said.
Dallas Mayor Tom Leppert had a trade with China in April. He said trade with China is essential to his city’s survival. “We can no longer afford to think of business on just a national scale, or even limit our efforts to this hemisphere,” Leppert said. “For Dallas to prosper, we must all compete on a global scale for a global economy.”
I believe that Dallas must have done detailed surveys about Chinese market as BPOVIA usually do for clients who want to do business with China.
Leppert wants to bring more Chinese tourists to Dallas, to turn it into a place for Chinese goods and to encourage Chinese companies to move their US headquarters to the city.
One of the companies that has taken his advice and shifted its US office to the Texan capital is ZTE Telecom. The Chinese telecommunications operator has revenue of $8 billion a year in the US. Leppert expects that to triple in the next year.
Dallas is offering generous tax incentives for Chinese companies to establish warehouses and distribution centre here expecting to create 60,000 jobs in the Dallas area over the next 20 years.
Texas has a fast developing tech sector that’s fighting hard to compete with China. It is still a long way to get China to spend more money in Dallas to decrease the US trade deficit.
Last November, the US students learnt Chinese culture and language in the first Confucius Institute of the University in Texas. According to Gu Mingdong, the institute’s director, the demand for the classes has more than doubled in the past few months.
Are you interested in the business opportunities in China?
China is one of the world’s great growth markets and is likely to be for many years to come. Foreign companies often face difficulties in assessing Chinese market demand and enacting effective strategies because of the language barriers, culture differences, and high expense.
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