The Belt and Road Initiative, also called the New Silk Road, refers to the world-famous Silk Road, which originated from the Han dynasty. China at that time traded goods with Europe – hence such a reference. Currently, the Chinese are focused on promoting a new idea. Check how they promote the New Silk Road.
Recently, ChinaDaily announced the emergence of an idea that aims to improve communication between countries that are on the route of the New Silk Road. Thus, they will be able to provide support for their projects.
To build greater trust and credibility, companies should increase their presence on the Silk Road to ensure proper self-promotion. Enterprises are encouraged to explain who they are, how they work, and what their commercial goals are.
Silk Road – Research
Some time ago, Brunswick Group researched 4,200 adults from 14 countries belonging to the New Silk Road. The research focused mainly on the Middle East, Eastern Europe but also in Africa.
78% of respondents positively perceive activities related to the New Silk Road initiative. Besides, Chinese enterprises are well received.
58% of adults see China as the best choice for cooperation in development and infrastructure projects in their countries. Research indicates much openness to Chinese enterprises.
Challenges to solve
There were also serious challenges. About 39% of respondents from 14 countries believe that their government allows too much investment from China in their countries.
The concern is particularly noticed in countries such as Kenya (71% believe that there are too many Chinese investments), Kazakhstan (49%), Pakistan (45%), Indonesia (45%) and Malaysia (44%).
The observations, however, are positively considered in terms of change. The building of appropriate relations between states is gradually increasing, and trust is also growing.
More information – Better perception
The research revealed a strong correlation between communication with local communities and building trust. Individuals or companies that have received more information about Chinese enterprises have a significantly higher level of trust and support for Chinese companies compared to those who have received little or no information at all.
Spreading knowledge and focusing on exposure is the key to the success of a Chinese company abroad.
The lack of communication?
Chinese companies plan to communicate more effectively with international recipients because currently, everything indicates that contact is insufficient.
Only 14% of all respondents answered that they had seen or heard direct information from Chinese companies.
Local populations, however, turn out to be open for Chinese enterprises. Over 36% of all respondents say they trust information coming directly from Chinese companies.
Companies that enter a new market must identify and understand any problems that may affect the company’s operations in a given market.
Opinion survey can help you determine expectations and concerns. Predictions will allow companies in advance to develop a mitigation plan instead of reacting in case of problems.
Besides, Chinese companies entering the markets of the countries on the Silk Road route should focus on communication and involvement of local employees.
Companies should adapt to local conditions. Chinese enterprises are trying to build good relations with local government, regulators, media, and scientists.
Building relationshipis – Silk Road
Chinese enterprises want to focus on building trust, thus plan to organize regular face-to-face meetings with companies on the Silk Road route. Personal contact deepens understanding.
It is also crucial to provide policymakers with a proper understanding of the company’s business goals. Explaining how the company will help local communities helps isolate the company from hostile rhetoric.
New Silk Road – Disseminating an idea
Appropriate communication will accelerate the implementation of business goals and help companies achieve success thanks to projects related to the New Silk Road. Besides, dialogue and mutual understanding are an integral part of the initiative, which is to promote friendship and cooperation.