Great Tips for Doing Business in China

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Today, more and more foreign investors are gradually realizing the fact that China represents an attractive market for expansion, which result for numerous reasons.

 

  • First of all, this Asian giant has now become the world's second-largest consumer market, with a large number of consumers who have almost no debt and a lot of cash to spend in.
  • In addition, many Western brands have proven to be very popular in the Chinese market.
  • Last but not least, US-based companies can also benefit from working with Chinese companies to improve their supply chain, given China's highly complex manufacturing industry.


If you plan to expand your business to China or off-shoring production there, please keep the followings in mind:

Establish long-term cooperation goals

No matter what business you do, you need to prove to your customers and suppliers that you are not there to quickly devalue them and then use your profits to disappear into the sunset.

One strategy for success in this area is to work with those who understand your vision and values you have outlined for the company and who are invested in your long-term success. This will help you prove that you consider China not as a way for vendors and manufacturers to help you cut costs and increase profits, but as a channel for mutually beneficial partnerships.

Consider the Cultural Differences

Most Westerners are at least somewhat aware of the major differences in Chinese culture, which may have a major impact on your company's success in China. For example, the importance of the Lunar calendar to the Chinese. Although the Gregorian calendar has been widely used for a period of time in both official and unofficial abilities, the specific dates of the Chinese lunar calendar are still important and are considered more "auspicious" or "prosperous."

Therefore, it is important to understand these dates as many Chinese representatives will arrange business meetings or events around them. The Chinese New Year celebrations are also an important festival, which is observed in many different economic sectors for a whole week (or sometimes longer). 

These facts are critical to your branding considerations in the country.

Respect the Chinese World View

Although the Chinese economy was open to foreign investment and influence that began in earnest in the 1990s and really took off this century, Chinese culture still attaches a high value to the collective. As a Western business leader, you need to respect this impact and understand that your Chinese partners and customers may not define value the same way as you do.

Understand that All Chinese Companies Are Connected With Politics

Depending on the industry, many American entrepreneurs can start and run businesses with minimal intervention from federal, state, and local government agencies. 

But in China, government agencies hold everything in their hands. Moreover, in many cases, local bureaucrats may be more prominent than the Chinese central authority. Therefore, it is important to study the political environment of the region you are going to operate and learn how to harness the unique concentration and decentralization that is present throughout the economy.

Adapt your sales promotion to suit Chinese values

Successful sales leaders always customize their sales promotion for specific audiences. That's because they don't sell a range of features; they sell their wishes by buying solutions they sell, and customers can solve their problems and improve their lives. When preparing your sales presentation for the Chinese market, you can use the same concept.

Hire local partners and learn from them

If you plan to expand to any foreign market, you are more likely to succeed if you rely on local partners to guide you through the cultural and logistical hurdles that await you.

Find a skilled translator who can attend every meeting with you, and pay close attention to the advice of your trusted local staff. These people are often be the difference between making unforgivable faux pas and successfully navigating the complex world of Chinese business.

Chinecocheck.com provide professional Chinese Company Verify Service for you to help you do safer and better business in China. Welcome to contact us for details!
 



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