Top > Business > 2005 > November > 2005-11-08

Modern Business Tips in China

How many times I have been asked, ?So just how do I make money in China?? or, ?How do I get started with expanding my business into China?? These are good visionary questions with no single simple answer. However, at the top of the list is whether you truly have the requisite amount of knowledge and experience in understanding the differences in business climate, etiquette, and culture between your country and theirs.

Attorney Michael R. Polin has given keynote speeches on China both in China, and the United States, and has helped many International companies break into the China market space. Attorney Polin is currently the China Expert for General Alexander Haig?s television show, World Business Review. He gave a couple of tips about doing business in China these days.

Keep an eye on the company?s account books, or if licensing, on the licensee?s account books. Neglect of oversight can result in compromised product quality and lead to a struggle for management control as well as possible unethical activity. Get paid. Check with legal counsel to determine the specific payment terms that are customary for a certain type of transaction. If you want to be paid in U.S. dollars, be certain you are able to convert profits and remit funds. And bring in an expert who understands both countries negotiation styles and strategies so you know when ?no? means ?no?, ?yes?, or ?maybe?.