The social and cultural aspect of China plays an important role as the demographics constantly change. These can alter social trends and cultural values. Family size and social behaviors often impact how decisions are taken.
Other social factors are consumer lifestyles, education, religion, and emigration.
Rule and regulation made by the government has to be accepted by the firms and work according to it.
Over the past five years, China’s economy experienced significant GDP growth rate. If China continues to excel at this rate, it will surpass US GDP soon. Some factors which might help are:
Abundant and skilled labor
More export business
Potential urban growth
New products being developed
New purchasing mechanisms such as
the intranet and extranet
New production technology
New distribution mechanisms like Internet
New methods of working like mobile telecommunications
China has little experience for drafting e-commerce legislation for topics like intellectual property rights protection and tax.
There aren’t any regulations supporting the privacy, recognition of digital signatures, consumer rights and validation of electronic contracts yet.