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Doing Business in China for Dummies

ISBN-10: 0470049294
ISBN-13: 9780470049297
Edition: 2007
List price: $21.99
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Description: Globalization means that American businesses will have increasing contact with Chinese businesses and greater exposure to Chinese markets. 'Doing Business in China For Dummies' covers the basics, such as making a first trip to China or working  More...

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Book details

List price: $21.99
Copyright year: 2007
Publisher: John Wiley & Sons, Incorporated
Publication date: 8/6/2007
Binding: Paperback
Pages: 384
Size: 7.25" wide x 9.00" long x 0.75" tall
Weight: 1.254

Globalization means that American businesses will have increasing contact with Chinese businesses and greater exposure to Chinese markets. 'Doing Business in China For Dummies' covers the basics, such as making a first trip to China or working closely with Chinese counterparts for the first time.

Introduction
About This Book
Conventions Used in This Book
What You're Not to Read
Foolish Assumptions
How This Book Is Organized
Building Your Foundation
Starting Up in China
Conducting Daily Business
Building Successful Business Relationships
The Part of Tens
Icons Used in This Book
Where to Go from Here
Building Your Foundation
So You Want to Do Business in China
Understanding China's Appeal
Cutting costs to meet global demands
Accessing a fast-growing local market
Considering Ways to Get In on the Action
Selling into China
Manufacturing and sourcing
Deciding Whether China Is a Good Fit for Your Business
Considering your employees
Having international experience
Getting company leaders on board
Having patient capital
Dealing with the government and laws
Appreciating cultural differences
Tracing the Path to Success
Getting the right knowledge of China under your belt
Starting your engine
Getting down to business the Chinese way
Organizing your team for China
Remaining flexible while staying the course
Respecting the country for what it is
Staying on the lighter side
Taking the First Steps: What You Can Do Today
Brushing Up on China Business Basics
Considering Why and How You Want to Do Business in China
Manufacturing in the World's Workshop
Harnessing people power to export services
Reaching untapped domestic markets
The Experts' Choices: Some Long-Term Growth Industries in China
Services
Healthcare
Environment and energy
Agribusiness
Understanding China's Business Environment
The economy: Getting the goods
Politics: Grasping the state of affairs
Culture: Taking in the social scene
Laws: Surveying the government say-so
Buckle Your Seatbelt: Preparing for Common Challenges
Gaining trust
Wading through the bureaucracy
Responding to rapid changes
Surviving cutthroat competition
Bridging the language gap
Getting Acquainted with the Powers That Be: China's History and Leadership
Understanding the Big, Historical Picture
Introducing the Middle Kingdom: The rule of dynasties
Ushering in modern China and the rise of the Communist Party
Industrializing with Mao: The first five-year plans
Opening the door to foreign investment
Party On: Understanding Who Controls the Country
The Chinese Communist Party (CCP)
The state
The People's Liberation Army (PLA)
Figuring Out the Chinese Business Scene
Getting state-owned businesses in shape
Supporting private businesses
Encouraging foreign investors
Benefiting from the five-year plan
China and the World Trade Organization
Agreeing to play by the WTO rules
Changing how China does business
Planning for Success in China
Setting the Stage
Being in the right state of mind
Budgeting enough money
Garnering strong support from headquarters
Designating the China manager - the earlier, the better
Staying flexible
Deciding What You Want (and Need)
Where to locate
Staffing and worker requirements
Building up: Whether to walk or run
How to sell in China
How to maintain competitive advantages
How to finance the venture
Doing Your Homework
Continuing research as you develop your plan
Networking
Reading up
Reaching out to organizations
Hiring Consultants, Lawyers, and Accountants
China (and Western) experience
Teamwork
Information flows
Specific experience
Being Aware of Common Planning Mistakes
Overestimating revenue
Underestimating costs
Rushing the process
Not accounting for the X-factor
Mistaking Chinese language for China
Losing sight of what you know
Putting Some Eggs in Another Basket
Starting Up in China
Traveling to and around China
Getting the Necessary Documents and Vaccines
Passport
Business invitation to China
Visa
Vaccines and health requirements
Making Flight and Hotel Arrangements
Flying directly into mainland China
Flying into Hong Kong first
Finding a good hotel
Navigating the Airport after You Land
Health and quarantine
Immigration
Baggage claim
Customs
Getting from the airport to your hotel
Around and About: Traveling within China
Taking flight in the Middle Kingdom
Taxiing
Taking the subways
Busing around
Riding the rails to and fro
Considering a travel card
Getting through the Basics of Daily Life
Finding money
Staying healthy
Weathering China
Preparing for crowding and noise
Dealing with pollution
Staying Out of Trouble
Contacting your embassy or consulate
Protecting yourself against crime
Foiling scam attempts
Staying clear of counterfeits
Keeping out of restricted areas
Avoiding legal problems
Getting Business Going through Successful Negotiation
Preparing for the Process
Organizing your team
Developing trust and then doing your bargaining
Considering how best to divide the pie
Practicing the Chinese Art of Negotiating
Thinking like the Chinese
Navigating Chinese negotiation tactics
Taking the time to get it right
Exchanging information
Keeping track of all the details
Saying no the Chinese way
Treating anger appropriately
Using intermediaries effectively
Making concessions
Banqueting as part of the deal making
Earning Approvals in China: Understanding the Bureaucracy
Negotiating after the Deal
At Long Last: Telling the Public and Celebrating the Deal
Announcing the news
Showing off for the cameras at the signing ceremony
Celebrating the venture
Setting Up Shop
Choosing the Right Business Structure
Representative offices
Foreign-invested enterprises
Considering Location Variations
Finding good infrastructure
Locating your labor force
Seeking government incentives
Looking for experience with foreign investors
Touring the Mainland Regions
Northeastern China
The Yangtze River Delta
The Pearl River Delta
The wild, wild west
Weighing Hong Kong's Offerings
Hong Kong's special status: The SAR (it's not something you catch)
Perks of investing in Hong Kong
Hong Kong hang-ups
Classifying Your Company and Reckoning with Restrictions
Checking out the catalog
Identifying highly regulated industries
Establishing Your Business
China, may I? Getting business approvals
Landing your land
Visas: Getting yourself and your expatriate employees to China
Understanding Government Relations with Your Business
Knowing Why You Want to Connect with the Chinese Government
Getting official assistance
Gaining guidance and support
Mapping the Bureaucracy to Plan Your Network
Identifying key government organizations
Identifying the key influencers
Tracking key relationships
Contact: Working Your Network
Getting your Chinese employees to make connections
Calling in company big shots to access senior officials
Depending on your Chinese partner
Turning to consultants
Aligning Your Government Relationships
Taking the bottom-up approach for smaller firms
Meeting in the middle: Managing multiple levels of government
Getting Government Approvals
Earning your approvals
Unblocking the blockers
Gaining trust by keeping your word
Educating officials (without telling them)
Post-approval: Practicing public relations in China
Building a Local Team in China
Looking at Employees and the Law
Employment contracts
Terminating employees
Legal disputes
Unions
Avoiding a Shocking Corporate Culture
Passing up the Chinese imperial palace
Guarding against imperial palace syndrome
Finding (and Keeping) Good People
Employer beware: Avoiding common problems among job seekers
Finding applicants
Screening applicants
Making an offer
Retaining talent
Managing Your Employees
Setting your expectations for basic training
Helping employees manage their work
Earning respect
Managing office politics
Getting Your Mind on Money
Introducing China's Currency: The Tricky RMB
What you need to know about the RMB
What RMB exchange controls mean for your business
Choosing a Bank for Your Business
Opening All the Necessary Accounts
Working with the people's currency: Your RMB account
Switching things up: Accounts for foreign exchange
Getting Your Money Out of China
Sending profits back home
Repaying foreign debt
Using other money exit strategies
Financing Your Business
Borrowing from offshore
Borrowing from onshore
Checking out special types of debt financing
Getting private equity financing
Paying the Government without Taxing Your Patience
Corporate taxes
Individual taxes
Conducting Daily Business
Understanding How China Works (and Doesn't Work)
Getting Things Done the Chinese Way
Honoring face
Focusing on consensus
Working together for mutual benefit
Developing patience
Sending consistent messages
Sharing information
Keeping the dialogue going despite bumps in the road
Talking to the right authorities
Making Face-to-Face Business Meetings Work for You
Getting your basic presentation ready
Preparing to speak the local business language
Making an appointment
Making a respectful entrance
Takin' care of business
Wrapping up the meeting
Communicating Effectively Outside the Meeting Room
Using the telephone
SMS and text messaging
Faxing
E-mailing and the Internet
Sourcing from China
Understanding Why You May Want It Made in China
Working with Suppliers
Finding suppliers
The middleman: Surveying trade-offs of trading companies
Straight from the source: Dealing directly with factories
Following Tips for Supply Agreements
Product description
Delivery date
Payment terms
Insurance
No toxic substances
Indemnification
Binding arbitration
Avoiding Pitfalls When Working with Suppliers
Not getting what you bargained for
Being outsourced: The factory's factory
Losing your brand or technology
Including substances that are toxic to your business
Placing Orders
Putting down a deposit
Purchasing goods via free on board arrangements
Shipping Your Products by Using Freight Forwarders
Manufacturing in China
Being Realistic about Savings
Considering Industry Development
Looking at Manufacturing Challenges for the Chinese Market
Struggles to cut costs enough to compete in domestic markets
Highly distributed distribution
Why foreign manufacturers can succeed
Selecting Your Site
Seeing the big picture when planning your business
Remembering what smart companies look for
Knowing how government can help
Avoiding site pitfalls
Building Your Building
Identifying the players
Finding a general contractor
Contracting your GC
Protecting yourself by hiring a project manager
Approvals: Getting through the Red Tape
Before construction
Beginning operations
Hiring, Training, and Keeping Your Workers
Encouraging teamwork
Expecting skills gaps
Training
Treating your workers well
Hiring Quality Control
Selling in China
Appealing to the Chinese Consumer
Knowing your customer
Helping customers show their "face"
Looking at name recognition: The Chinese and branding
Getting Ready to Deliver: It's All about Distribution!
Where your products get sold
Three distribution choices
Trench warfare in distribution
Advertising
Keeping the message simple and obvious
Getting the message out
Deciding How You Want to Enter the Market
Guns blazing
Starting with a beachhead
Letting others blaze the trails for you
Selling to Consumers
Retail stores
Franchising
Direct-to-consumer
Selling services
Selling Business-to-Business
Building Successful Business Relationships
Fostering Fruitful Friendships: The Art of Guan Xi
You Scratch My Back, I'll Scratch Yours: Introducing Guan Xi
Trusting performance
Repaying favors
Developing guan xi in government and business
Developing Your Own Guan Xi
Starting from square one: Reaching out
Building bridges to your target contacts
Following through on your promises
Putting your best foot forward
Looking at the Limitations of Guan Xi
Saying and Doing the Right Things: Chinese Business Etiquette
Minding Your Business Manners
Dressing for success
Greeting and meeting the Chinese
Presenting your business card
Behaving yourself in Chinese company
Enjoying a Chinese Banquet
Knowing what to expect
Navigating the many courses
Eating the Chinese way: Using chopsticks
Drinking at the banquet
Understanding Chinese banquet behavior
Returning the favor: Hosting a banquet
Tokens of Appreciation: Giving Gifts Correctly
Deciding how much to spend
Choosing an appropriate gift
Paying attention to presentation
Exchanging gifts
Managing Risks in China
Doing Due Diligence
The basics: Reviewing the business license
Practicing DD for joint ventures
Doing DD for hiring individuals
Controlling Financial Risks
Counting beans differently
Balancing an out-of-balance sheet
Exposing shadow businesses
Practicing common-sense controls
Supporting controls through company culture
Limiting Your Legal Risks
Thinking locally
Implementing corporate governance
Combating Corruption
Understanding bribery laws
Keeping government relationships straight
Training for compliance
Managing donations responsibly
Resolving Disputes through Arbitration
Understanding arbitration clauses
Surveying arbitration bodies
The rulebook: Determining governing law
Enforcing the rulings
Protecting Intellectual Property
Getting IP registered early
Taking proactive legal measures
Practicing realistic precautions
Managing Environmental Risks
Surveying environmental crime and punishment
Practicing more than good intentions
Getting help
Insuring Your Business Risks
Controlling the insurance program
Getting insurance advice
Knowing your choices of companies
Looking at basic types of insurance
The Part of Tens
Ten Clauses You Want in Your Contracts
Ten Fun Ways to Spend Your Downtime in China
Ten Ways to Stay on the Path to Profitability
Index

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