China economy and IT market are exciting and attrative. It’s lucrative to some multi-natioinal companies, while a waterloo to many of them and their SVP/EVP/MD/GMs. Why? A good slides by Kaifu Lee disclose his findings at China. Click to download.
- Build strong government relationships
- Play by China’s market rules
- Make a long-term commitment
- The local economy is the top priority
- Nurture local people
- Build trust, not PRUnique power of government
- Relationships required at all levels
- The spirit of the law matters more
- China’s culture is built on trust, relationships, mutual respect.
- The concept of “face” is very important.
- Avoid sensitivities and find every opportunity to make China look good
- Negotiations are bottom-up and informal.
Thanks to Dr.Lee’s excellent summary. It’s very valuable to read.