Companies seeking a competitive advantage and global presence are turning to China for investment, manufacturing and import-export opportunities as well as cutting-edge technology. The future is now. Lower labor and capital investment costs, a potential billion-plus consumer market, and developing infrastructure all point to China’s role as an integral force in the world economy.
In 2001, China committed itself to the protocols and expectations of the World Trade Organization, including trade liberalization, greater market access, and reduced tariffs. U.S. entrepreneurs can now own companies in China or team up with like-minded private business owners. Foreign market access has improved but still has not yet reached the stage of total transparency.
China produces many professionals annually in the fields of engineering and business. Finding qualified people to manage local businesses will not be a problem.
Doing Business in China
The Chinese put a high premium on knowing their business partners. Strong relations with your counterparts cannot be overstressed. Respect and face are highly regarded when conducting business in China. Proper etiquette is a must.
China is undergoing an incredible transformation, both economically and socially. It is a land of immense opportunities as well as unsuspected difficulties. It may, therefore, be in your best interest to hire consultants intimately familiar with the local economy and customs who can assist your company in achieving optimal results.
Let us be your guide.