Though China has many socialist policies, the country has a mixed economy that permits foreign business and investments. Many entrepreneurs find the market to be one ripe for opportunity. Recent adjustments in Chinese policies have motivated forecasters to project a strong GDP growth rate. To capitalize on this development, entrepreneurs and businesses looking to expand their operations and interests can stay alert to which industries are seeing growth in China. Lithium batteries and new energy vehicles As the world moves more toward sustainable power, new energy vehicles and supporting indust ..read more

If you plan to do business in China, you probably want to know how to convert American dollars into Chinese yuan and back again. Shifting currency does not have to be difficult if you understand your options. Your bank probably comes to mind as a way to change your money into another currency. Per U.S. News and World Report, here are some reasons why your bank may or may not be an option. When your bank may help you First, you probably have a long-standing relationship with a bank, which could simplify your request to exchange your currency. Moreover, if you have a checking or savings account ..read more

Entrepreneurs who set their sights on China may first look at cities like Beijing and Shanghai. When new business owners look at the economy, a good sign is the amount of wealth in one area. While Beijing and Shanghai have the highest number of billionaires in China, Shenzhen is close behind. Shenzhen surpasses New York. What does this mean for new business owners? It means that the economy in Shenzhen is thriving and may be an ideal place to locate a China-based business. What caused Shenzhen's rise to the top? Shenzhen has been an innovative city since the 1970s. While it started as a fishin ..read more

All business people need to shield their intellectual property. After all, unscrupulous individuals are willing to steal any successful product they can. It is not only Americans who infringe on others. The problem often crosses borders. This may be because prosecuting such crime internationally is particularly challenging. China remains a common violator, even with massive brands. Thankfully, there are easy measures that can help guard an organization. Protective task #1: Register a Chinese trademark Chinese squatters are constantly on the lookout for what is up for grabs. The country uses a ..read more

The business environment in China is seeing a downturn. Due to this, the Chinese government is working to bring more foreign companies back to the nation. The government is taking steps to make foreign investors see China as an attractive place to start up and conduct business. But it is coming up against some issues. Political tensions One of the reasons why China is struggling to keep foreign businesses interested in sticking around is the political tension between it and other nations. The United States and China have not kept their issues secret, and the concern of the U.S. government abou ..read more

To connect with your consumers, you must have an online presence. Most U.S. consumers utilize the internet to determine which brands to support and in China, you will not find the users to be much different. Most people have internet access and will use it to find local businesses, read reviews and connect with the brand. Unfortunately, there are bans against most social media platforms that Americans use, like Twitter and Facebook. To market in China, you must have a presence on different social media platforms. What platforms are popular in China? The most popular platform in China is WeChat ..read more

If you do business with other companies or entities in China, you may find yourself concerned if an entity winds up owing you money. Taking legal action against a business requires you to transmit documents and engage with the legal system in another country. When it comes to lawsuits or debt collection in foreign countries, the Hague Convention provides a convenient and efficient means of doing business abroad. The U.S. and China agreed to the Hague Service Convention The Hague Convention is a framework in which countries sign an agreement to follow specific rules regarding cross-border litig ..read more

Regarding the global market, China is the second-largest advertising market in the world. If you work in retail, China has one of the fastest-growing markets. To reach consumers, however, you need to know how to advertise to your targeted demographics. To have a successful business venture within China, you need to know how to offer your services in the market. Utilize social media marketing About one billion people have social media accounts in China — accounting for about one-third of the world's social media users. To attract consumers within the Chinese market, you have to be willing to en ..read more

Many businesses appreciate the benefits of doing business in China, yet many hold back on account of concerns of intellectual property theft. By being proactive, you can help avoid many situations that increase the risk of IP theft. These are a few tips to protect your business when working in China. 1. Seek IP protection in China Filing for a trademark, patent or copyright within the United States or the European Union does not give you adequate protection in China. The process for filing a trademark is easy and inexpensive, and China has a track record of approving protections quickly. If yo ..read more

Maintaining a good relationship with business partners should be a priority for all businesses, big and small. When it comes to international companies, different cultures and customs can lead to various misunderstandings. If you are an American professional working with Chinese business partners, you may benefit from understanding which of your customs can appear offensive to people from China. Understanding each other's customs can reduce the risk of miscommunication. Accepting a gift right away In the U.S., it may appear rude if someone does not accept your gift. When someone declines, you ..read more