News and Events

May 25, 2011

China report: Challenges and opportunities

by Pittsburgh Business Times - by Marshall Franklin, VP of Sales, Lampire Biological Laboratories

The technology market, another Chinese revolution.

As China enters the next stage of this revolution, tremendous opportunities for Pennsylvania companies are developing. These opportunities include key industry sectors such as the life, information and environmental science marketplaces. Yet, after spending my first week in Beijing and now Shanghai, it is apparent a couple of key hurdles facing companies looking to develop and expand their market presence and reach in China include:

Learning and understanding the Chinese culture and business practices;
Competition by domestic and international companies supported by aggressive government-funded trade programs
For Lampire Biological Laboratories, the life sciences industry in China presents a great opportunity for continued growth and production. But it also presents challenges that companies must face, particularly if they are in any of the advanced technology industries.

I can't minimize the imperative of cultural understanding as well as reverence for business practices, which are different than those in North America. What differentiates the relationship building in life sciences is that aggressive governmental policy, which is the equivalent of a mandated policy, very different than in the U.S., is clearly articulated and will result in a convergence of higher skills and increased wages that will change the Chinese marketplace. So the opportunities for American companies will increase as the economics begin to intersect. As we've heard during this visit, China is focused no longer on mere quantity, but also quality and optimization.

After a week, here is what I've discovered:

The developing technical markets in China are well-funded, well-regulated and focused on producing quality products. When faced with the sheer scale of China, as well as language and culture boundaries, access to the market must be strategic with a long-term commitment and corporate presence. With this, regional technology councils and state-funded agencies provide the means to enter this developing global market.

Lampire Biological Laboratories has earned primary vendor status with pharmaceutical, diagnostic, biotechnology and medical device corporations worldwide. Commitment to quality and customer service has established Lampire as a key resource for clients through the research and development, scale-up and optimization stages of product development and subsequent production. Lampire also serves academia and government research agencies involved in the areas of immunology, cell biology, cell signaling, pathology, molecular biology, microbiology and clinical medicine.

Marshall Franklin is vice president of sales at Lampire Biological Laboratories. He is traveling to China as part of the Pittsburgh Technology Council's 10-day business trip. The group currently is visiting Shanghai.

http://www.bizjournals.com/pittsburgh/blog/innovation/2011/05/china-report-challenges-opportunities.html

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