Newsletter Week 7, 2008 |
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Dear Reader, Here is this week’s edition, covering:- China’s Banking Industry Part II - Headed for China? Cultural Considerations - China is expanding its global economic Empire - Lying We hope you will enjoy reading this edition. Have a nice weekend! All of us at China Success Stories China expert Guest Blog China’s Banking Industry Part II Agreements and Reforms after Joining the WTO  When China joined the WTO, the organization demanded China to comply with special obligations concerning the bank business in the country. China had to agree to open their bank sector completely to foreign banks within five years after joining the WTO from 2001 - 2006. China specifically agreed, that it would allow foreign banks to accomplish foreign currency business without any market access or national treatment limitations, and to conduct foreign currency business with foreign-invested companies and foreign individuals, subject to certain geographic restrictions. Two years after joining the WTO, foreign banks should have been able to conduct domestic currency business with Chinese companies subject to special geographic limitations, and within five years China agreed to lift all geographic restrictions. China also agreed that foreign banks are allowed to provide financial leasing services at the same time as their Chinese counterparts. However, China was slow in implementing the agreements. In 2002 the People’s Bank of China issued regulations governing foreign-funded banks along with rules to keep pace with the WTO commitments but the PBOC was extremely cautious in opening their... Read the rest or post a comment >> China Expert Guest Blog Headed for China? Cultural Considerations  Are you responsible for preparing print, interactive electronic or visual materials for a client base that is marketing, selling or teaching to other parts of the world? Those questions and the answers apply to everyone. In a global economy, these are equal-opportunity challenges. It is becoming increasingly necessary for those who are responsible for the transmission and interpretation of information to educate themselves about what is expected in different cultures. As you already understand, educating ourselves about other people means much more than knowing how to order the appropriate dish in a restaurant when entertaining clients from... Read the rest or post a comment >> Advertisement  China Expert Guest Blog China is expanding its global economic Empire  “Going out. Going global” has long been the rally cry for the China government’s encouragement of developing competitive positions. It’s a key express policy.No, we’re not talking about the Olympics here; “Going Global” means economics and enterprise. And China means business for the UK. The lesson is that the key to success in these business Olympics is not a winter-takes-all attitude, but that partnership and co-operation can make winners of us all. The signs are clear that the UK is picking up the pace of the challenge set by China. This month in Beijing, UK Prime Minster Gordon Brown extended the welcome on China’s... Read the rest or post a comment >> Facts & Figures Gross Domestic Product You never know when these statistics might prove to be of value to you. So without further ado, here's our weekly top 10. Top 10 countries sorted by their GDP (2006)
(Source: World Bank) China Expert Guest Blog Lying  A drawback of my, in itself interesting profession, is that I encounter a lot of lying in my daily work. Contrary to popular believe it is not so much the lawyers that do the lying. Although I have to admit lawyers are generally not easily persuaded to part with information, let alone the truth, I prefer to think of what we do as skilful editing of the information to fit a certain version of the truth. No harm in that. That is what lawyers are paid to do.But in order to edit the information, you will have to obtain the information first. And that is not as easy as it may sound. First there is the filter of the client’s hurt feelings that makes it difficult to obtain any relevant information. In its strong believe of the correctness and the fairness of its own position, the client filters out anything that appears to be in its disadvantage. “They never complained about the quality of our products and now, out of the bleu, they want their money back and claim damages! That is unreasonable.” In itself this is a good point which... Read the rest or post a comment >> Comments Greg Bissky in reply to Why Paying More Is Good China Business: |
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