Legal matters lack consistency and can be changed at the will of the Chinese government. Bill Evanina is director of the National Counterintelligence and Security Center, a division of the Office of the Director of National Intelligence. And he or she will need to be 100 percent trusted to enforce compliance and to role model required behaviors. The scandal, centered on the eastern port of Qingdao, means those remaining in the commodity financing business will have to consider their future, or at least bring in new controls on lending requirements. Chinese leaders and managers expect obedience without question. Moreover, it weakens your hand in negotiations.
An interesting fact is more Chinese people are learning English that the entire total of native English speakers in the world. Another factor you need to be aware of is the importance of the Lunar calendar. They explained how Spain has long-standing, well-tested agreements with 19 such countries that not only provide favorable treatment, but require these 19 countries to in all respects treat Spanish companies exactly as they treat domestic companies. The Chinese also dislike body contact such as back slaps or arm touching, and often consider noises like clicking your fingers, whistling, and even blowing your nose with a handkerchief you then put back in your pocket to be impolite. In order to understand how people use our site generally, and to create more valuable experiences for you, we may collect data about your use of this site both directly and through our partners. There is a related boom in supplying equipment to these new facilities.
This means they will not immediately close a business deal after just one meeting. This can lead to a very different presence in China. Industries with potential for faster growth in the next decade Many of the industries with the highest growth potential in China over the next decade are in the services sector, but not all. Unlike in the West, the creation of personal friendship is a prerequisite of doing business. The card is presented with the front side facing upward toward the recipient.
Lower-level colleagues typically only provide their thoughts and more information when called upon. Patience is the key to success! You can rest assured that your networking etiquette and respect will be greatly appreciated as your business increasingly takes you into other countries. By giving your consent below, you are agreeing to the use of that data. This privileged position for Spanish companies has led companies from all around the world to set up a Spain business entity for going into the Caribbean and Latin America. An interesting fact is more Chinese pe The book I read to research this post was Doing Business In China by Jihong Sanderson which is a very good book which I bought from kindle. Arranging a Business Dinner in China If you're planning on arranging your own business dinner in China, check out our lists of restaurants in China's largest cities.
It tends to result in sloppy planning and analysis. Decide if a gift is appropriate. Jihong Sanderson is a Lecturer at Haas School of Business at the University of California, Berkeley where she has been teaching graduate courses in 'Doing Business in China' since 2003. Those two entities alone have deals covering around 91,000 tonnes of aluminum and copper in Qingdao. Over the years we have also formed U. Government may be on your side as long as your technology is needed. Below is a very brief snapshot of where we see opportunities.
It's true in any business situation that you need to prove to your customers and vendors that you aren't there to make a quick buck off them and then disappear into the sunset with your profits. Moving forward, policy-makers are keen for China to produce its own large multi-national enterprises, and government is re-asserting its role as the key orchestrator of these initiatives. A tip: At the start of the meal, ask for a glass of water. E-tailing The online share of retail in China, at 8 percent in 2014, is higher than it is in the United States and is not close to reaching saturation. The Chinese have a high respect for authority, dating back centuries, and so they usually enter the room in hierarchical order. China Highlights — Helping You Do Business in China China Highlights can't provide you with guanxi and mianzi, but we are experienced in business in China and experts at making travel arrangements for foreign visitors. Critically, with the key part of the port of Qingdao still under official lockdown there is a black hole at the core of this drama in the form of how much metal may, or may not, actually be there.
Only if they remain confident in their personal economic future will they continue to increase their spending and become a larger driver of economic growth. If the Chinese government or intelligence service requests the information gleaned from that Wi-Fi, the hotel owner is then legally mandated to provide it. They are more concerned with seeing those subservient to them, or on a par with them according them the honor their position deserves rather than threatening the status quo. The amount the Chinese are willing to spend on tutoring and support for their children is almost unlimited. You're useful, but you may find that amicable claims have been exaggerated when you get down to business proper. Using commodities as collateral to raise finance is common in China and not illegal, but duplicating receipts to repeatedly mortgage the full value of an asset is fraud and could leave more than one creditor holding claims to the same collateral.
For Germany's largest carmaker of Volkswagen, there would only be losers from a trade war. As is often the way with such things, the Qingdao scandal appears to have been discovered by chance, with the opening act playing out a thousand miles away in the city of Xining in Qinghai province. Such inventory financing is used in many commodities and across many countries. Bribery, kickbacks, theft, and misspending of public funds cost each year. That's because they aren't selling a list of features; they are selling their aspiration that by buying the solution they sell, and improve their lives. Seven months on and part of the Chinese port is still locked down by the authorities, who are investigating local trader Chen Jihong and his companies for alleged multiple pledging of metals for collateral.
This is not a sign of weakness, but simply the cultural norm. Place a trusted senior colleague in China with a commitment to have him or her be there for the long term. For example, it may seem incongruous to a Westerner that Chinese culture values austerity and saving, while the has been robust in recent years. If you cause them to lose face, she says, you will lose their business. This is expected to slow short-term growth; however, this shift should build foundations for more sustainable long-term expansion for businesses. Although Americans and Japanese have been doing business together for decades, some entrepreneurs may not be familiar with some of the cultural nuances.