U.S. businesses are in direct competition with European companies in China. With tariffs and threats of trade wars, it is not an easy task for a business to remain competitive. Many European nations perceive the current disputes between China and the U.S. as an opportunity.
But whether it is a European company or American company, there still needs to be a significant understanding of Chinese’ culture before any ventures can be successful.
Things you will need to remember
According to one European business publication, there is a degree of formality in doing business in China that we might not find in the U.S. This includes formality when introducing oneself and something as simple as good manners.
Creating the right business connections is extremely important. Any successful entrepreneur doing business in China will need to understand particular locales. This also includes getting to know key individuals when conducting business in those particular areas. Such connections are important concerning every aspect of doing business.
There is tremendous diversity in every country including China. China is a nation of 1.2 billion people and made up of distinct regions. It would be a mistake to treat individuals and businesses from the different regions the same. Having an extremely diverse workforce in China can have great benefits.
Of course, having advice and counsel regarding doing business in China is advisable. It is good to have someone who can help regarding introductions and prevent unintentional mistakes from occurring that can damage one’s business reputation. Such counsel can also protect your interests when it comes to doing business in China as well.