Drastic changes to make no change

After months of delay and numerous typhoons from political rumour mills, Xi Jinping, the latest Chinese top leader, has succeeded the presidency with new the military and executive wings. With over 70% turnover rate in both the Central Military Commission and the Executive Committee of the State Council, evidences suggest the internal differences were finally set aside and the settlement was set to make everyone happy (at least, all sides could find quiet compromises.) Aside from normal rhetoric, Xi assures continuity and respect to the previous leaders and emphasis on better the lives of ordinary Chinese. That meant no dramatic u-turn of the macroeconomic policies of suppressing inflation, increasing minimum wages& labour benefits, and achieving both goals through gradual Renminbi appreciation against the USD. With dramatic solutions to the political infighting, the 18th National Congress of the Communist Party of China paves the way to stronger conservatism and patriotism. A new team with new leaders may need more time to act on an economy that shows signs of slowing down. Wealthy Chinese Canadians tend to have over sea assets and businesses in China. The continuation of Renminbi appreciation and suppression of inflation could increase their purchasing power in Canada. Recently, Chinese companies and business owners show signs of increasing interest in investment and migration to Canada. While the leadership swap may be bad news for those who want to seek business opportunities in China, it can be positive news for Canadian market.

Hong Kong's 2012 Chief Executive Election

Today marks the day where Hong Kong is in the process of electing for a new Chief Executive to govern over the next five years. Most of the Hong Kong Chinese community, both locally in Hong Kong as well as here in Canada have been very tapped into recent news of the candidates.

There has been ongoing debate about the future of Hong Kong and how much of its "one country, two system" structure will be kept in the years to come. There has been rumours and opinions that China's central government has been intervening and exerting pressure on the elective council, a body of professionals and individuals who are eligible to cast their vote for the next Chief Executive.

It is pertinent for multicultural marketers to understand not only the purchase behaviours of Chinese consumers but also to understand the political landscape on the macro level. Brands wishing to target this community needs to understand the importance of China's historical and modern day government structure in order to genuinely understand the factors that influence and ultimately drive consumer ideologies and behaviours.

In the next blog post, I'll explore more in depth into the political landscape of China, how it shapes consumer values and ultimately drive consumption preferences. Moreover, we'll look into how to leverage this understanding to target the ethnic Chinese consumer here in Canada.