Opportunities for Australian SMEs in China

30 January 2023: The Chinese market is becoming increasingly complex, with heightened competition and rapidly changing consumer preferences. It's more important than ever for Australian small and medium-sized enterprises (SMEs) to develop sophisticated strategies to address these challenges - and leverage the opportunities.

These opportunities in China are impossible to ignore. China remains the world's largest and most dynamic consumer market, with a technologically savvy consumer base oriented towards digital platforms. However, international brands have raised the bar for doing business in China, and Australian SMEs must follow suit to remain competitive.

A new report by Asialink Business, "Risk and Reward: Opportunities for Australian SMEs in China," which was recently launched with support from the National Foundation for Australia-China Relations, provides insights and strategies for Australian SMEs looking to succeed in the Chinese market.

The report turns the spotlight on Australian SMEs that are taking innovative approaches to navigating and succeeding in the Chinese market despite geopolitical tensions, punitive trade measures, and rapidly evolving markets and consumer trends.

It highlights how these businesses are adapting their strategies and operating models to win their corner of the market and draws on in-depth interviews with Australian SMEs across fashion, wellness, consumer products, and food and beverage industries, and combines it with insights from leading experts on the Chinese digital market.

One such business highlighted in the report is Australian skincare brand Aromababy, a natural and organic baby and maternal skincare company that has been exporting to China since 2007. They have adopted an innovative strategy that focuses on brand localisation establishing nurturing long-term partnerships with maternity hospitals across China. This gives them access to new mothers and healthcare professionals, allowing them to provide support and education while acting as a pivotal touchpoint for their customers. These partnerships have significantly increased their brand's growth and exposure, helping Aromababy become recognised as an authentic brand in China.

The report findings reveal new opportunities for Australian SMEs who are currently operating or considering operating in the Chinese market, and provide an indispensable guide relevant to Australian SMEs, the business community, and governments, business councils, and industry groups willing to explore new ways to help Australian SMEs succeed in China.

Download a copy of the "Risk and Reward: Opportunities for Australian SMEs in China" report here.

To find out more about doing business in China, contact our team here.

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