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Summary
China is positioned in Southeast Asia and is surrounded by fourteen countries which include Vietnam, Burma, India, and Korea among others. China consists of huge expanses of plains, foothills, basins, plateaus, and mountains (Hsieh and Lu, 2004). Similarly, it has a higher population than the United States (About five times more). Production of goods is cheaper compared to the United States
China is the world’s fastest emerging economy with a growth rate of about ten percent over the last 30 years. It is also one of the largest exporters and the second-largest importer of goods and services around the world. Despite this swift economic expansion, prosperous citizens in China are moving abroad to invest.
Every company in China must have a stated registered capital which, once contributed to the Chinese company, cannot be withdrawn for anything other than paying company costs. The registered capital includes all the components of the initial investment in the company including its start-up capital, transferred intellectual property, and contributed property (Devonshire-Ellis, 2011).
The primary mode of transport in China is a rail which provides service to the entire nation. China also has an extensive highway and road system used mainly by motor vehicles (Johnson and Turner, 2009). It has the second-longest expressway network in the world after the United States.
When considering starting a business in China, it is important to remember Chinese culture. Being unaware of the different types of nonverbal communication can in a big way affect the outcome(s) of any business setting. Culture can be both non-verbal and verbal (Acs and Szerb, 2011). It is very crucial to localize in the Chinese context. Failing to do so has seen many international companies fail. It is also important to thoroughly understand the local market and your target users (Kenna and Lacy, 1994)
China holds thrilling opportunities because the market is enormous and the opportunities are limitless. Although there is a common language spoken throughout the entire country, it is important to remember that the key to surviving in the market is not just knowing their language but knowing how to use, speak, and understand their language.
Reference List
Acs, Z. J., and Szerb, L. (2011). Global Entrepreneurship and Development Index2011. Cheltenham: Edward Elgar Publishing.
Hsieh,C., and Lu, M. (2004). Changing China: A Geographic Appraisal. California: West view Press
Devonshire-Ellis, C. (2011). Setting Up Wholly Foreign Owned Enterprises in China. New York: Springer.
Kenna ,P., and Lacy, S. (1994). Business China: A Practical Guide to Understanding Chinese Business Culture. New York: McGraw-Hill Professional.
Johnson, D., and Turner, C. (2009). International Business: Themes and Issues in the Modern Global Economy. New York: Taylor & Francis.
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