Hello everyone, welcome to another Hongda Business Services Roundup!
Before we get started with the roundup there are points of interest I'd like to share with all of you. Firstly, we have another great FREE ebook to bring to your attention! Hongda Business Services has compiled an introductory guide to China accounting for foreign companies that stands to benefit all of those who are doing business in China, and those that wish to set up a company on the mainland.
To see what you can all expect from this free offer, please check out our post here!
For the second order of business this week Hongda Business Services is excited to announce that we are hiring! We are looking for a new Sales Executive to join our growing team in Shenzhen. If you'd like to know more about what responsibilities this role entails and what the applicant requirements are, find out more here!
Okay, let's get back to the roundup! This week we have some great posts and an animated infographic for you:
-
China accounting over the years: Timeline infographic
-
3 legal services foreign companies in China should not overlook!
- 10 tips on doing business in China
-
Doing Business in China: Bring Your Own Interpreter
1) China accounting over the years: Timeline infographic
2) 3 legal services foreign companies in China should not overlook!
During my 20 years living in Asia, I’ve owned a number of different business entities in greater China, ranging from China manufacturing WFOE’s to service companies. I’ve had my share of success as well as failure in the China courts, and in this blog post I’d like to share the 3 areas of China law where I wish I had been more careful.
Assumptions about readers of this blog post who are interested in China law
The concepts discussed in this blog post may be of interest to anyone that wishes to do business in China, regardless if you are on the buy or sell side of the transaction with China. Readers who are thinking about setting up their own offices or factories in China will find the article particularly useful.
The concepts explained in this blog post also apply to personal law, so it’s not just business people that may find the blog post of interest.
This article will give foreign companies in China insights into what mistakes they need to avoid. Some of you may be making the same mistakes right now and I hope you find this blog post of value.
3) 10 tips on doing business in China
Today, China has become a place that business people from all over the world have recognized as one that they simply have to figure out how to do business in. It is a vast land of opportunity that is continuing to shape the entire world's hold on business.
In the face of increasing pressure of a slowing economy, its ongoing dedication to experimenting with new free trade zones such as Shenzhen's Qianhai New District, Guangzhou's Nansha, and Zhuhai's Hengqin shows China's willingness to try new things.
The government and its continued relaxing of corporate policies and the signing of massive trade deals with key countries is helping to foster international relations and lay the foundation for greater business cooperation and promote greater foreign investment.
This being said, doing business in China is definitely not as black and white as one would expect from doing business in other parts of the world. The opening up of China has made navigating cross-cultural relationships more important than ever before, and that's why there are so many China experts writing about the subject.
One such person is Mia Doucet, a sales strategy consultant and author of award-winning China in Motion. In this blog we will take a look at 10 tips that she shared about doing business in China and I'll leave you with my thoughts on each one.
The publication is based on 1,000 hours of candid interviews with Asians, exploring the hidden cross-cultural and communication factors that cost Western businesses untold millions with Asian customers and suppliers. Join me as we dive a little deeper into the advice, and see how relevant it is today!
4) Doing Business in China: Bring Your Own Interpreter
You’ve come all the way to China to talk to a prospective business partner. Maybe it’s an investor or maybe it’s a buyer. China is a big market. And you’ve heard there’s a lot of money here too.
After you arrive in town the Chinese are so helpful. They know you can’t speak their language. They provide an interpreter because one of their people is bi-lingual. The interpreter is nice. You think the meeting is going really well. You’re told how much they want to “co-operate” with you. They want to invest in your business or buy whatever it is you’re selling. Like, right now. They just need some more detailed information about your offering. Some more documents to look at. Some more specifications. You’re asked to prepare an MOU. For some reason it needs to be signed before you fly out. For some reason this seems alright to you.
That it for this week's edition of the Hongda Business Services Roundup! Please let us know about any of your thoughts regarding some of the topics we recapped this week in the comments below, or let us know about any other topics you'd like for us to cover.
Hope everyone has a great weekend and that you catch us again next week for more of the news that matters in our world!
