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- Business Hospitality Etiquette - Editor, 31 December 2008
- Business Meeting Etiquette - Editor, 23 December 2008
- President Hu Jintao’s Latin American Visit Reinforces Trade Links - Editor, 24 November 2008
- China and Taiwan Meet To Strengthen Economic And Trade Ties - Editor, 3 November 2008
- China Reports Record High Trade Surplus in August - Editor, 6 October 2008
- U.S.-China Trade Talks Aim for Mutually Beneficial Agreements - Editor, 15 September 2008
- Investors Optimistic for Post-Olympic Economy Upswing - Editor, 25 August 2008
A business trip to China is likely to include some form of entertaining and hospitality, so it is a good idea to become familiar with customs related to the social side of doing business in what is considered to be one of the fastest growing economies in the world.
With the world becoming more of a global village with each passing day, many business people from different parts of the world may have occasion to travel to China to conclude business deals. To ensure that a business proposal is taken seriously, it is wise to observe certain basic business customs that are expected from you by your hosts.
Addressing the Peruvian congress in Lima during a state visit to Peru, China’s President Hu Jintao confirmed his intention to reinforce the rapidly growing economic, trade and diplomatic ties with South American and the Caribbean countries to the benefit of all parties. Peru was the last stop of President Hu’s three nation visit to Latin America which culminated in an Asian-Pacific summit in Lima on Saturday the 22nd and Sunday the 23rd of November.
Cross-strait economic and trade ties are in the news this week as Chen Yunlin, China’s top negotiator with Taiwan, visits the island this week to discuss matters of mutual concern. The talks will focus strictly on economic and trade cooperation between China and Taiwan, avoiding potentially volatile political issues. In June of this year, officials from both China and Taiwan agreed to set up permanent offices in each others territories, and together with this week’s meeting, these are seen as significant steps forward in the improvement of cross-strait ties.
Authorities in China have revealed that the country’s trade surplus hit a record high of US$28.7 billion in the month of August. According to custom’s data, China’s exports for the month of August amounted to US$134.9 billion, reflecting an increase of 21.1 percent compared with the same period last year, while imports increased by 23.1 percent, reaching a figure of US$106.2 billion. China’s trade surplus with its biggest trading partner the European Union, rose by 25 percent, while its trade surplus with the U.S. increased by 16.6 percent.
The Richard Nixon Presidential Library located in Yorba Linda, southern California, is to be the venue for high-level trade talks between the United States and China on 16 September 2008. The meeting will mark the 25th anniversary of the US-China Joint Commission on Commerce and Trade (JCCT) and it is anticipated that agreements will be reached to the benefit of both parties, while some thorny issues will be addressed and hopefully resolved.
Following the fortnight of the 2008 Beijing Olympics, during which time the Shanghai Stock Exchange’s benchmark composite index fell 7.7 percent, with the past week being particularly turbulent, investors are confident that China’s government will turn its attention to the economy and brighter times are ahead. Considering the fact that China spent around $42 billion on the Olympic Games, money which appears to have been readily available, it seems surprising that the market is performing so badly. With the Shanghai stock market having tumbled by 54 percent since the beginning of the year, there is some serious work to be done to turn the situation around and win investor confidence.
Recent Articles
- China and Taiwan Continue to Strengthen Trading Ties - Editor, Wednesday 18 January 2012
- China to Upgrade CNAPS for Cross-Border Trade - Editor, Wednesday 4 January 2012
- Philippines-China Trade Shows Impressive Growth - Editor, Wednesday 21 December 2011
- UAE-China Trade Ties Strengthened at 10th CCFS - Editor, Wednesday 7 December 2011
- China Reviews Climate Change Policies - Editor, Wednesday 23 November 2011

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