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On January 17, 2021
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China's economic annual report was released
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The report pointed out that in 2021
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China's per capita GDP will reach 80,976 yuan
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which is about 12,551 U.S. dollars at the U.S. dollar exchange rate
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which is very close to the threshold for high-income countries set by the World Bank
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The number of middle class in China is the largest in the world in absolute terms
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surpassing that of the United States, reaching 109 million people
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The number of Chinese millionaires (measured in US dollars)
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and ultra-high-net-worth individuals has also grown rapidly
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The report pointed out that as of 2015
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the number of millionaires in China exceeded 1.33 million
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and the net worth of nearly 10,000 Chinese exceeded US$50 million
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an increase of nearly 24%, ranking second in the world
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Among them
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8% of the world's ultra-high-net-worth individuals
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(with assets of US$50 million and above) are from China
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Credit Suisse also predicts that the number of millionaires in China
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will grow to around 2.3 million in the next five years
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In 2021
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the total retail sales of consumer goods in China will reach 44.1 trillion yuan
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about 6.5 trillion U.S. dollars
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It is the second largest consumer market after the United States
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and will become the first in the future
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Chinese people are in a strong trend of consumerism
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As long as they have money, they will definitely spend it
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Even if they have no money, they will borrow money
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If they like a certain brand very much, they will try various ways to buy it
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even go abroad to buy it
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Nothing can stop Chinese people from traveling and shopping all over the world
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except mobile phone signal
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Jack Ma, the main founder of Alibaba Group
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once said that Chinese people are "not short of money"
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China has a consumer market of 1.4 billion people
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and has unlimited potential
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Therefore, Jack Ma has created various platforms
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and has become the richest man in Asia
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by covering almost all aspects of Chinese people's lives, including video
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audio-visual, life shopping, office and study, etc
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China's becoming the world's largest consumer of luxury goods also seems to confirm this point
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According to reports
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Chinese people spent 770 billion yuan on luxury goods in 2018 alone
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accounting for one-third of the world's total consumption
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Faced with such a huge consumer market
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how should foreigners make money from the Chinese
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First of all, let's take a look at which foreign-funded enterprises in China are doing well
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Wal-Mart , an American worldwide chain enterprise
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the largest company in the world in terms of turnover
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Wal-Mart is mainly involved in the retail industry
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and has the largest number of employees in the world
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In 1950, Sam Walton opened the first discount store in the United States
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and Wal-Mart Supermarket has been on the rise ever since
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In 1996, Wal-Mart extended its tentacles to China and opened its first Wal-Mart store
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and Sam's Club store in Shenzhen
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Since then, relying on its strong supply chain and high-quality and low-cost strategy
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Wal-Mart began to quickly seize the Chinese offline retail market
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By 2021, Walmart China started from Shenzhen, and in 25 years
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it has opened more than 400 shopping malls
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and more than 20 distribution centers in more than 100 cities across the country
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Especially since entering 2021, Wal-Mart China has repeatedly broken historical records
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Among them, in the Q2 financial report just released by Wal-Mart
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Wal-Mart China’s net sales increased by 6%, comparable sales increased by 2.9%
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e-commerce net sales increased by 75%
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It is worth mentioning that Sam's Club has a strong performance in the Chinese market
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with double-digit growth in sales
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and more than double the number of new member registrations year-on-year
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This membership-based retail model has become a bright spot
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in the development of Wal-Mart in the Chinese market
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because of its positioning in high-consumption groups
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and the provision of differentiated products
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KFC, one of the multinational restaurant chains in the United States
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It is also the second largest fast food and largest fried chicken chain enterprise in the world
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It was founded by the founder Colonel Harland Sanders in 1952
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It mainly sells fried chicken, High-calorie fast food such as hamburgers
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French fries, rice bowls, egg tarts, and soft drinks
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KFC first entered China in 1987
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and its early entry laid a good foundation for its market in China
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At that time, foreign brands were very popular
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and Chinese people took pride in eating fast food
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KFC achieves standardization, unification and scale
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in the management of the supply chain of raw materials for production
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The standardization of raw material procurement, cleaning, storage
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die-cutting, and marinating is separated from stores
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and processed by pre-made food companies
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This is the function of the central kitchen in modern catering
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The store is only used as a place for heating, packaging
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selling and dining of prepared food
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This effectively controls the waste of raw materials
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the quality of raw materials, the uniformity of taste and product appearance
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According to the latest data released by Yum China
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the parent company of KFC, as of June 30, 2021, KFC already has 7,609 stores in China
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Mercedes-Benz, the German car brand, the inventor of the car
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is considered one of the most successful premium car brands in the world
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Its perfect technical level, excellent quality standards
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innovative ability to introduce new ones, and a series of classic coupe styles are commendable
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Mercedes-Benz is the world's number one luxury car brand
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he biggest advantage of Mercedes-Benz is the texture of the interior
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and the relatively stable driving style
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It has very high comfort, and the luxury of the interior
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is comparable to luxury brands Said to be one of the best
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The quality of Mercedes-Benz is also relatively reliable
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Exquisite, reliable, and durable are the tenets of Mercedes-Benz
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Of course, Mercedes-Benz cars are also relatively expensive
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which gives ordinary people a high threshold
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Therefore, Mercedes-Benz has long been a symbol of Chinese identity and face
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and owning a Mercedes-Benz has become a manifestation of noble identity and status
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According to the latest financial report released by Mercedes-Benz
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in the third quarter of this year, Mercedes-Benz's global car sales were 520,000 units
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a year-on-year increase of 20%
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Among them, the overall sales volume of new energy vehicles was 75,900 units
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a year-on-year increase of 23%
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accounting for nearly 15% of the total sales volume
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The Chinese market is still one of the most important markets for Mercedes-Benz
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In the third quarter, Mercedes-Benz sold 206,800 vehicles in China
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far exceeding Europe's 152,700 vehicles and North America's 83,200 vehicles
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The fundamental reason why Wal-Mart, KFC, and Mercedes-Benz
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can achieve great success in China is reliable quality
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They provide high-quality guarantees that are difficult for domestic companies to achieve
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As we all know, for a long time
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due to the low spending power of the Chinese people and the lax supervision
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most of the products in China were low in price and "just use it"
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Food safety issues are also worrying
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Some food operators have weak legal awareness, serious mercenary thinking
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and do not pay attention to food quality
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Wal-Mart and KFC have successfully won the love of Chinese people
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who have strict requirements on product quality
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by introducing Western raw material supply chain management systems
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and providing reliable high-quality products
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Especially with the rise of the middle class
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the popularity of Wal-Mart and KFC is getting higher and higher
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A good example is the success of Sam's Club
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which offers a wide range of high-quality imported goods, even if they are not cheap
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but still attracts a large number of Chinese middle class
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With the rise of China's economy
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the Spending power of Chinese people will become stronger and stronger in the future
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In the future, Chinese people will have great demand for
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high-quality raw materials and products
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high-quality education
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high quality tourism and entertainment resources
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and even high-quality living environment
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China imports a large amount of high-quality raw materials and products
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from the United States, Australia, and New Zealand
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Many Chinese students go to the United States and the United Kingdom to study
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in order to obtain the status of international students
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American blockbusters, Japanese anime, and South Korean online games are still competitive
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The good environment in developed countries such as Europe and the United States
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continues to attract Chinese people to travel and settle down
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Even if these things are expensive, the Chinese are willing to pay for them
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Because these things are difficult to copy in China
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but foreign countries can provide them immediately
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