Understanding local culture is crucial to success

What stands out most at the China International Import Expo is the sheer size of the event. My immediate takeaway from walking through the sprawling exhibition was this - everyone wants a piece of the Chinese market.

This reminded me of the time when I had just moved to Shanghai and some of my friends back home in Singapore were urging me to set up a business in China.

"And what would I sell?" I asked a friend. He replied: "It doesn't matter. Anything will do. How about lighters? Even if just 1 percent of the population buys lighters for a dollar, you'll be rich."