What You Don’t Know May Hurt Your Business in China (Part 1)
When you are the customer, it might be safe to say that more adjustments are expected from your supplier than you. It’s much easier to relax and not worry too much about making mistakes if your business is the one being sought. However, it is quite different matter when you are the one trying to bag a deal with a customer or investor.
Role reversals are now happening between China and Australia. China is now turning into a consuming and investing giant. With a growing middle class and having the world’s second largest number of billionaires, it is now more than just a sourcing destination. It shouldn’t be surprising to know that it is an exciting time for Australians to try their hand at exporting to China, or attracting Chinese investors. Australia now has the potential to offer China more than just mineral resources. Hence the pressure is now on Aussie businesspeople.
If you want things to go smoothly taking a crash course on Chinese business culture may no longer be just an option but an imperative. Contrary to common notion, Chinese business culture is not limited to learning how to accept and hand out a business card. There is more to it than just what is common knowledge.
One of the most important things you should know about doing business with the Chinese is the value they put on relationships. The Chinese spend an inordinate amount of time and energy establishing trust and relationships through meetings over, at times fancy, meals. This trust can be your window to doing great business with your Chinese customer.
Since I have already mentioned business cards, did you know that besides handing out or receiving a business card with two hands, the Chinese are also particular about how you put aside their ming pian? Before keeping it, take time to read or examine it. It also helps that you keep it in an appropriate place. Simply sliding it into your back pocket is considered disrespectful and symbolic of you sitting on their business.
The Chinese are also fond of gift-giving. It’s not that the Chinese are picky about the gifts they receive. They give small and inexpensive gifts, and appreciate receiving them too. There are just some items that are considered taboo, as they can mean bad luck or express an unfavourable message.
Do not give clocks. This is because the Chinese characters for clock, sound the same as those used to refer to a funeral ritual. Handkerchiefs are another taboo gift. They are considered items that are used for saying goodbye forever to the deceased. Sharp objects are meant to sever, signifying the possibility of severing a relationship. Mirrors are said to attract ghosts and symbolic of relationships that can easily break.
I hate to end the fun of learning more about Chinese business culture now. Next time however, I will share what you ought to give to a Chinese business partner.