In China, you only address good friends by their first name when greeting them. If you find your self in a work-related situation be safe and address people address by their title; in social situations "Mr.," Mrs.," and "Miss" are used; at home people often refer to each other by nicknames or terms of endearment.
Terms of affection are often used for close non-relatives. A younger man often calls a man who is five years older than him "big brother" and someone who is considerably older "uncle." You may find Chinese often address their friends as juniors and seniors even if they are just a few months younger or older.
When saying goodbye it is appropriate to give a quick bow or nod to everyone present before leaving. The Chinese are not big on long goodbyes. Often after finishing a meal, they get up, thank each other, and say goodbye. After a long visit or journey, the Chinese simply go there is no reminiscing or drawn out farewell chat
Punctuality is of the utmost importance - never be late!
A useful tip - print business cards that have English on one side and Chinese on the other. Make sure the Chinese side has "simplified Doing Business
When doing business with professionals of different cultures it is important to know their expectations so plans run as smooth " characters and not "classical" characters, which are used in Taiwan and Hong Kong.
English may not be spoken in business meetings, so hire an interpreter. Some Chinese may understand English without making it known.
Chinese enter a meeting with the highest-ranking person entering first. They may assume the first member of your team to enter the room will lead your delegation. Seating is very important at a meeting in Chinese business. The host sits to the left of the highest ranking guest.
Observing seniority and rank is extremely important when doing business with Chinese.
The status of your team member who makes the initial contact with the Chinese is very important. Don't make a mistake and insult them by sending someone with a low rank.
China Relaxes On Capital Outflow Rules
In the commercial real estate industry, it is vital that we stay well-informed about current affairs. They can, in fact, make or break a deal.
In January investors and sellers were in a frenzy as China cracked down on yuan leaving the country. The country hoped to stabilize the economy. China tightened the reigns even more on corporate outflows as January progressed. Organizations with investment plans outside of China were asked to divulge the source of their funding. In addition, details on their expenditures were requested. Both sides scrambled to close deals.
Just months after putting rules on capital outflow China has relaxed some of those rules. The People's Bank of China (PBOC) is no longer requiring that banks match outflows with equal inflows sources have said. The worst seems to be over as the yuan depreciation appears to have passed. China experienced capital flows that increased in March and continued into April. The yuan’s exchange rate against the dollar has been stabilizing and market confidence in the yuan has improved significantly.
Motivated Chinese investors can usually find ways around the new rules and are not swayed in making investment decisions. Knowing the rules is the best way to tackle problems that may arise and CB Commercial Realty is here to navigate for you.
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