Doing business in China requires a lot of guanxi (relationships). Part of showing mianzi (face) is by generous and gift giving. To fill this cultural need, Vgift.com.cn is aiming to help companies buy gifts for their clients.

Clearly there is great belief in this business since the company just raised 10 million RMB from lead investor and Hangzhou based Haowangjiao, a VC in the e-commerce space. Executives from Baidu and Kingsoft are also angel investors.

The model is that companies can go onto the site and choose the value of the gift card and then how many gift cards they want. They start at 100 RMB and go up till 10,000 RMB. The gift card is then given to the client and they can personally redeem the gift card on the website or by phone and it is delivered for free, within China.

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Jason Lim

Jason is an Australian born Chinese living in Beijing, specializing in entrepreneurship, start-ups and the investment eco-system in China, especially in the tech and social area.