China's rapid transformation from bastion of Communist rule to enthusiatic proponents quasi-free-marketism in the last 20 years has been rapid and, what with it's 1.3 billion people, really without comparison. This was laid bare earlier this year as it over-took Japan as the second largest economy in the world. Whilst they're are still major question-marks over the government's attitude to human rights and a profound disconnect between it's wooing of foreign investment and treatment of it's own citizens; it is clearly a region of potential riches for companies looking to capitalize upon it's size, growth and population.
Above is a powerful illustration of China's increased social media, digital and telecommunications reach. Anyone in any doubt as to the potential profits open to western brands in China should take note of a couple of the more jaw-dropping points put forward by Simon Kemp at BBH Shanghai.
- In 2010 the value of transactions at Chinese auction-site Taobao was $60 billion. I make that slightly higher than Croatia's Gross Domestic Product.
- The instant messaging service QQ has 636 million registered users; which equates to the global population of Facebook.
- 304 million online gamers in China (equivalent to approximately twice the population of Russia).
The presentation is both enlightening and often surprising.
