Career

Doing Business in China: 5 Tips for Success

China has one of the richest and most ancient cultures in all the world, so if you want to do business there, you better not skimp on the etiquette. Teo Kermeliotis writes for CNN with five tips to remember.

Making the Shanghaiest Profits

First of all, considering that China is roughly the size of the US and features 1.3 billion people, it is important to understand that China is more a “mosaic of cultures” than one homogenous block. You need to get very specific about your market and make contacts with people in them who understand the dynamics. Second, consider the public “face” you present. Attend meetings, accept invitations, give luxurious gifts, and make an effort to study and embrace the Chinese culture. Never lose your temper, and do not turn down a gift or invitation. Third, whatever your big seller product is, be ready to change it to adapt to Chinese tastes and customs. McDonald’s sells spicy chicken wings and chicken burgers over there, for instance.

Very importantly, you need to know that it takes considerable time and expense to build a proper relationship with Chinese businesses, so you need to understand the business climate as it is now in addition to predicting how it will look in the future. And finally, you need to build a strong ground team that actually lives in China. Flying back and forth all the time will only get you so far. You can read the original article here: http://www.cnn.com/2011/10/21/business/china-business-investors-culture/

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