Business in china homework finance including

Business in china homework finance including

Dec 19,  · However, do some homework to know the basic business rules as it is crucial for the success of your business in China because you can’t rely on anyone else to make business decision for you Apr 01,  · China has more than $15 trillion in bank deposits, and that figure grows by $2 trillion every year. Foreign-exchange reserves total $ trillion. China is the single largest foreign purchaser of US government debt. And its yearly trade surplus with the United States has grown from $10 million in to more than $ billion in Labor Relations Business Homework China Finance Including, How To Write In Walt Disney Font, Terrorism In The World Essay, Argumentative Essay Topics On Bullying/10()

6 Challenges of Doing Business in China and How to Overcome Them - Kaplan Financial Education

As the fastest-growing major economy in the world, China continues to offer global companies attractive investment and business opportunities. However, doing business in China also means navigating the complexities that arise from China's unique historical, business in china homework finance including, political, and cultural contexts. China offers plenty of opportunities for new ventures; the Chinese market continues to grow about 7 percent annually, and it is the second largest economy in the world behind the United States.

With opportunity comes challenge, however. In this article, we outline some important challenges to consider when doing business in China and offer some recommendations for success. Business people must have some sensitivity to the Chinese culture and how it impacts business.

Hierarchy plays an integral part of business culture in China with leaders and managers being more distinguished than in many Western countries.

Chinese leaders and managers expect obedience without question. In China, this would be a serious face-losing situation for the subordinate, boss, and even the company. Because China has a long history of being exploited by foreign countries, business in china homework finance including, it is of particular importance to show respect as a Westerner doing business in China. Giving gifts, accepting invitations, acknowledging hierarchy, addressing people by their designation, attending meetings, and showing genuine interest in the local culture are ways to show respect in China.

Doing business in China often takes longer than it would in most Western countries. American companies often fail because they are eager to move ahead rapidly, but it is typical in Chinese culture to establish a strong relationship before closing a deal.

Therefore, it is important for Westerners to understand they may need to meet with Chinese businesspeople multiple times before a business partnership or deal can be made, business in china homework finance including. If Westerners are invited to drinks or a meal, it is vital to the development of the relationship to go. Chinese business culture also has a longer decision-making period than Westerners are used to.

It is not uncommon for Chinese businesspeople to extend the decision-making period past a deadline given to them. It is important for Westerners to be prepared for that and to not rush them into making a decision before they are ready. Patience is the key to success! It is common for Western businesses to move operations overseas to save on operational costs, business in china homework finance including. However, in China, operational costs are getting more expensive.

Foreign companies have been required to pay education and urban maintenance and construction taxes since December In addition, the Social Insurance Law, which took effect in Julyimposed additional operating costs on companies that already provide international insurance coverage for their employees. Companies are also becoming alarmed by industrial overcapacity. Subsidies have encouraged some firms to continue production even with dropping demand and then sell their products overseas.

Increasing salaries and growing turnover are also a trend around China, especially in second- and third-tier cities. Both of these factors increase costs for companies because they have to pay workers higher wages, as well as hire and train new workers frequently due to turnover.

As wages continue to increase, so does the purchasing power of Chinese workers. Even with increasing costs, having a business presence in China represents a large opportunity for growth.

According to researchers at Oxford Universitymore than half of Chinese infrastructure investments have decreased in economic value as the costs have outweighed the benefits.

While infrastructure has been a huge driver of Chinese economic growth over the last few decades, China has recently increased infrastructure spending to counter the slowdown in manufacturing investment. This is expected to slow short-term growth; however, this shift should build foundations for more sustainable long-term expansion for businesses. There is a substantial difference in the role of government in Chinese businesses compared to Western countries.

China has a planned economy closely tied to government. This means that to do business in China, a company will most likely have to negotiate with the state. The bureaucracy involved in negotiating with the state can slow down the pace of business ventures. Joint ventures are difficult to establish because they have substantial government involvement.

Legal matters lack consistency and can be changed at the will of the Chinese government. However, the Chinese government has tried in recent years to upgrade legal protections making the business environment more enticing to foreigners, business in china homework finance including. Bribery, kickbacks, theft, and misspending of public funds cost at least three percent of GDP each year. The Chinese government has wasted money on high-profile infrastructure projects and government office buildings, and invests in industries with high resource consumption, high pollution, and low job creation.

Business in china homework finance including, there has been a crackdown on corruption, and many high-profile political figures have been jailed for getting caught up in the net of bribery, abuse of power, and other corrupt practices.

While foreign investors are generally happy to see this cleanup work, some have expressed fears that the crackdown also lacks transparency. Nonetheless, it is a step in the right direction for foreign businesses. Cultural Understanding Business people must have some sensitivity to the Chinese culture and how it impacts business.

Moving Too Quickly Doing business in China often takes longer than it would in most Western countries. Cost of Doing Business It is common for Western businesses to move operations overseas to save on operational costs.

The Role of Government in Business There is a substantial difference in the role of business in china homework finance including in Chinese businesses business in china homework finance including to Western countries. Industry Insights. Strategies for Effectively Giving and Receiving Feedback in Business.

Fund Manager Speaks Business Chinese with Confidence - Marco Li - Vienne Lee Finance Mandarin

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Dec 19,  · However, do some homework to know the basic business rules as it is crucial for the success of your business in China because you can’t rely on anyone else to make business decision for you Nov 30,  · international business focused on the country of CHINA, business and finance homework help Posted in blogger.com By EduEssay Posted on November 30, May 27, 1- Students are to post a recent news article/video from a reputable news source related to the topic of international business focused on the country of CHINA along with Apr 01,  · China has more than $15 trillion in bank deposits, and that figure grows by $2 trillion every year. Foreign-exchange reserves total $ trillion. China is the single largest foreign purchaser of US government debt. And its yearly trade surplus with the United States has grown from $10 million in to more than $ billion in