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Giving an insight into the diverse market of China

(May 7th, 2014)

By ECOVIS Beijing

On Monday, 05 May 2014, the Suffolk University invited Ecovis Beijing to the Novotel Peace Hotel for an insight in doing business in China. The group of around 20 MBA students was excited to hear from Manuela Reintgen’s first-hand experience.
The presentation started at 10 am with curious minds listening attentively. Professor Barretti introduced Manuela to the audience and then she started right off with a quick introduction of Ecovis, followed by the cultural differences between Western countries and China. Especially this topic raised the student’s interest and many questions were asked. The serious topic about showing face in China („面子“ or „脸“) lead to a discussion as the students were curious about the situations in which this occurs and how exactly it may be shown.

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China, as a High Context Culture, requires an understanding of the implicit meanings in order to develop relationships („关系“) as well as saving the before mentioned face. Manuela’s personal experience which she gained by starting her time in China with an internship and then staying & progressing with her professional life in both Shanghai and Beijing, gave the students many valuable examples and useful advice.

As most of the MBA students are also currently working or have worked in companies before, many questions came up as Manuela came to her second point: “Doing business in China”. The audience followed carefully as she explained the differences in market entry strategies plus their advantages. The most significant point made was regarding the high levels of bureaucracy and the use of instruments such as the company chop and invoices when doing business in China.

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Manuela finished her presentation with some personal experience from her private life. China, unlike smaller countries, is incredibly large and one will be amazed every single day at the vast variety of unfamiliar places and new experiences presented, even after 5 years. Professor Barretti thanked her  for her practical oriented speech and at the end of the day everybody had a better insight into the Chinese culture and market that needs to be understood before it can be explored.

If you would like to invite one of our experts to speak about doing business in China at one of your events, please feel free contact us.

with contribution of Brigitte Both (ECOVIS Beijing)

Manuela Reintgen Manuela Reintgen has been living and working in Shanghai and Beijing since 2009 and recently joined ECOVIS Beijing as Manager of the Business Development team. Having focused on foreign direct investment into China for the last few years, she advises clients on all aspects of establishing and doing business in China. Contact:
manuela.reintgen@ecovis.com
Ecovis Beijing is the trusted tax and legal advisor of several embassies and official institutions in China. It specializes in mid-sized international companies and focused on tax & legal advisory, accounting and auditing. If you’re interested in finding out more about tax and legal, don’t hesitate to sign up to our Newsletter or give us a call  +86 10-65616609 (ext 811/806)   or contact us directly via Beijing@ecovis.com
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Author:
Richard Hoffmann
richard.hoffmann@ecovis.com
Office website

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