China is a country in East Asia. The actual name of China is the people’s republic of china. It is run by a communist government. The capital is Beijing and the currency used is the renminbi and yuan. China is known for its countries history dating back to almost 1.7 million years ago. It a country that takes pride in their history and culture. There are 1.37 billion people that live-in China. The main dialect is Mandarin Chinese (Putonghua). Because China is run by a communist country, many of its businesses are strictly controlled its government. Many companies that have foreign businesses in China usually preformed as a joint venture with an already established business in China. The government is concerned that foreign businesses without regulation from the government will try to take over an entire business sector. An analysis of China as a country has shown that starting a business in China would be a smart business decisions as long you it was not within an industry that China’s government protects the local businesses.
Doing Business with China
China’s government is not very open with foreign business. It is known that the Chinese government does not make it easy on foreign countries that establish facilities in China. Companies are often fined for ridiculous violations only to be shut down and rejected when complaining about being treated unfairly. With the government censoring the internet and access to different technologies, it is hard for foreign companies to promote their businesses using the latest internet technologies. Along with technological challenges, China also has strict regulations on foreign currency conversion and taxation. (Bureau of Economic and Business Affairs 2015) The inflatio...
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...nses, and offsets for debt losses for 5 years are just a few. (China Tax Deductions 2016)
Analysis of Factors
If someone was considering conducting business in China, I would recommend making sure it was in a market that would not compete with protected local business. The economic outlook for business in China looks good if it is not real estate or the IT business. If the business is a software or IT company it would be best to have a concept that would be sellable to businesses already established and profit from the sale. It would be best to do the leg work to know all the regulations and taxations that would be incurred for your business. Know that because of China’s government many taxations and regulations are subject to change at any given time. I would suggest opening a business that would help boost the Chinese economy and make the country more profitable.
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