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William Bao Bean on China, Social Commerce and Enterprise Development

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8th Nov 2016

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Hub Culture's Executive Editor Edie Lush talks to William Bao Bean, Director of SOSV and China Accelerator about where China is 'ahead' and 'behind' in business.

Bao Bean talked about how social commerce is an area where China is ahead of the game compared to the United States. As opposed to social networks like Facebook and Twitter where content is the main activity, in China you can purchase 'anything you see' via integrated payment systems. So instead of having endless adverts or 'spam', you have brand sponsorship of high-quality content designed to drive purchases. So the idea of social commerce instead of ad-driven commerce is huge in China. Can we expect to see this in Europe or the US? William suggests this is the next evolution of social media, and it could be brands like WeChat that drive these changes.

Where is China lagging behind? According to Bao Bean, corporate enterprise is not yet China's strong point. Most people run their businesses on consumer software as opposed to corporate platforms, which makes true scale, security and general productivity a challenge.

Watch the full interview and see where's next for China.