3 Things Every Businessperson MUST KNOW About China
(This list should certainly extend far beyond just three, but we know your time is valuable)
Therefore, here’s three extremely and utterly essential points every businessperson/owner/corporate or just curious, person needs to know about the global superpower that is China.
1) Your business negotiations are doomed without Guanxi.
If you’re a clever businessperson, intermediary, or multinational, who has ever considered networking in China, you would have heard of Guanxi (关系) before.
That’s because Guanxi, (the Chinese equivalent of connections, networking and relationships) is crucial for opening doors in Chinese business negotiations.
For the Guanxi beginner, Google defines it as: ‘the system of social networks and influential relationships which facilitate business and other dealings’.
However, if you take on the Middle Kingdom with this definition, you’ll need to bring your departure flight forward.
It’s a long-term approach.
Guanxi is like a stubborn indoor plant, it needs to be nurtured and maintained.
When you understand Chinese culture thoroughly, Guanxi suddenly makes a lot more sense.
The keyword is trust.
Intlang’s tips on how to create Guanxi:
- Attend social events
- Network with your Chinese associates long before the business talk commences
- Speak Chinese: Learn Chinese in Perth
- Convey respect and appreciation of Chinese culture, traditions and history
- Nurture this trust long after the boardroom meeting concludes
Foreigners quickly learn that the Chinese business environment focuses less on contracts and more on character assessments.
Fortunately, we have made this whole process easier.
Find out how to create trust through various tried and tested methods such as, best business etiquette and socialising through our Perth based, Chinese business culture lessons.
Short on time? Learn online.
2) China’s middle-class consumers influence the world
That sounds dramatic. But it’s true.
The Chinese middle class literally need to keep shopping and spending to support their booming economy, and the global economy.
Alibaba’s 2018 Singles Day (the world’s biggest shopping event), generated 30 billion USD in sales.
And, Alibaba is a Chinese international company, specialising in e-commerce, retail, internet and technology.
With 400 million middle-class shoppers in China, their influence is far reaching. From a business perspective, paying close attention to Chinese consumer behaviour is very, VERY, beneficial.
(PSA: Singles Day falls on November 11 each year).
Why are these consumers so powerful?
Chinese millennials enjoy a disposable income. They value individualism. Luxury brands are favoured and personalised services are preferred.
International brands with the right approach can be hugely successful.
How can learning Chinese play in your favour?
China is enjoying steady economic growth, which means that the opportunity for international companies to expand into the consumer market will remain.
Possessing basic Chinese language skills to engage in conversation can help you find out what drives these Chinese consumers.
Even if it’s as simple as scrolling through WeChat to read brand comments.
Furthermore, the sight of a Westerner making their business pitch in Chinese would be extremely well received.
3. You can learn to speak Mandarin without the characters
Now that we’re on the topic of speaking Chinese, we want to dispel the following misconceptions that learning Chinese:
a) will take years
b) is extremely difficult
c) you’ll probably never be fluent.
Like all languages, patience, consistency and practice is key.
However, learning Chinese is easier than you think.
Pinyin (simplified Chinese), consists of English recognisable characters to form the Mandarin word, instead of the square Chinese illustrations.
The Pinyin style of Chinese ensures that learners have the right pronunciation of words and tones. Basically, Pinyin is the answer for beginners and a visual cheat sheet on how to say Chinese words accurately.
What you must know about China is that locals, possibly more than anywhere else in the world, will absolutely reward with you praise upon hearing you speak some Mandarin (even if you’re not the best), because it’s so rare to hear.
Therefore, having the skills to speak Mandarin during a business trip, meeting, pitch or if you run a business often visited by Chinese tourists, can be so beneficial.
Intlang’s Mandarin lessons only deal with the Pinyin style of Chinese words.
Courses are designed so that you can learn everything you need to know and say for business dealings.
Face to face lessons are conducted by native Chinese speakers in our Perth CBD office, ensuring students will have the correct pronunciation.
However, we also understand that busy schedules can make starting any new activity tricky.
For this reason, Intlang offer ONLINE TRAINING for Chinese lessons. Voice overs, and easy to follow quizzes and activities ensure you won’t miss out.
Learn anytime, anywhere at your own convenience.
China is an ancient city and of course, there will always be new facts to discover.
If you need more information or help raising awareness to your brand in the Chinese market, do not hesitate to contact Intlang Marketing for assistance.