Today, on UN Chinese World Language Day, we have time to reflect on the dynamic, unique, and fascinating language spoken by nearly 1 billion people. This commemoration began in 2010, and is celebrated annually on April 20th. As the day approaches, we are reminded of the importance of the Chinese language, not only linguistically and culturally, but also in terms of global business development.
As the second biggest economy in the world, China continues to be an exciting place for all types of businesses. This fast developing market has plenty of potential to deliver exceptionally profitable opportunities. Working in China is not just about having the right products, but about ensuring that your company has the ability to communicate effectively with Chinese consumers. Possessing the language skills to succeed is essential. Without such skills, regardless of the quality of your products or services, it will be difficult to crack the market.
No developing economy comes close to China’s contribution to global growth. The Chinese economy accounts for fully 18 percent of world output (measured on a purchasing-power-parity basis).
With such a large economic output and solid growth, it is no surprise that the Chinese economy has a tremendous impact on the world. Global wages, profits, prices and interest rates are increasingly influenced by events in China. For example, Chinese demand for global commodities can affect their prices significantly, as can fluctuations in its stock market, which has caused ripples across Asia, Europe, the United States and all countries.
Possessing a deep knowledge of Chinese linguistic differences, is very important, not only in China, but across the globe. Many business leaders understand that misunderstandings and mistranslations can have a major impact on whether businesses succeed. Nearly 70 percent of respondents felt that differences in language and culture make it difficult to gain market share internationally.
Teleperformance has a decade of experience working in China. We not only bring our experience as the worldwide leader in customer experience management, but our extensive language and cultural skills, to our work there. Teleperformance understands how important it is to be able to communicate effectively and we can help your company deliver the right experiences in the right language to customers in China. To learn more, read our new white paper.