Local idiosyncrasies in China to consider when creating an internal control system for your business

Though many foreign companies may feel it is easier to transplant their own internal control systems to their China business without making the necessary adjustments, they may find sooner rather than later that cultural differences and a unique way of doing business in the region can significantly complicate the process. China has its own distinctive business nature, and simple cultural misunderstandings can lead to major difficulties. Issues that require an effective internal control system, such as corruption, labor disputes, tax liabilities and expense reimbursements, may be more complicated due to language and cultural barriers than in the investor’s country of origin.

Your first step should be to conduct a search as to whether your trademark has already been registered or not in China and under which classes / sub-classes. If there are no problems, then file as soon as possible in Beijing. It is an easy and quick to file process, only needing to follow the step-by-step considerations outlined in the article. If you find that somebody is in the process of filing for your trademark and it has not been registered yet OR somebody has already filed your trademark, choose an IP lawyer in China to represent you to understand what options you have in taking counteractive action.

The perception in China is that that there are constant limitations and obstacles when doing business. However, the “Negative List” is looking to reduce the threshold for foreign investment and foreign startups to enter the Chinese market – a positive impact for foreign investors. This is just one initiative that the Chinese government is focusing on, to promote and entice foreign investment into the country. In addition, there are opportunities for foreign investors in key sectors and industries as outlined in the 13th five-year plan (FYP).

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China is the world’s second largest economy and an important market for any international company. Even if you are a small player, it’s important to think big and have a China strategy in place. China can be a difficult market to crack and even more so for start-ups.

It is a common journey that businesses go through, and it is more predictable than most people realize. From hundreds of entrepreneurs, companies and leaders from the USA, UK, Australia, Canada, and Europe, we have learned that there are certain problems and frustrations that come along at very predictable times. More importantly, there are also certain ways to overcome them if you know the journey ahead of you.

In this webinar session, we will look at Woodburn’s China Roadmap method which consists of accomplishing 3 major milestones and 9 superpowers needed by a company, entrepreneur and/or leader to build a “performance” business in China.

July 27-30 2020

Have you conducted a market research study or focus study group on your industry/sector in China? Do you know the importance and value that a study can be for your China journey? Are you looking to enter China without setting up a company? Are you familiar with the benefits of having a representative office? Are you familiar with how to setup a Limited Company in China? Woodburn Accountants & Advisors is offering a series of COMPLIMENTARY webinars on all these subjects. We will provide you with information and tools to enrich your China business skills and enhance your market entry efforts to achieve sales success on the Chinese market. Join us from July 27-30 from 9.30am to 10.30am GMT. To register click here.

August 24-27 2020

The pace of change in China is accelerating. Unprecedented geo-politics, exponential technologies, shifting demographics and new social norms are reshaping the business environment. Organisations (whether B2B or B2C) need to be responsive and agile if they are to survive and thrive in this, ‘new normal’. But in times of great change it can be tempting to slip into a reactive frame of mind, fighting fires and rolling with what you know. Many businesses, large and small, fall into this pattern in China, overlooking vast societal, culture, technological and political differences…but you don’t have to. Join us for a discussion as we step back from business as usual to develop a longer-term perspective which can survive shorter-term market changes.

Woodburn Accountants & Advisors is offering a series of COMPLIMENTARY webinars on all these subjects. We will provide you with information and tools to enrich your China business skills and enhance your market entry efforts to achieve sales success on the Chinese market. Join us from August 24-27 2020 from 9.30am to 10.30am GMT. To register click here.

China is the world’s second largest economy and an important market for any international company. Even if you are a small player, it’s important to think big and have a China strategy in place. China can be a difficult market to crack and even more so for start-ups.

It is a common journey that businesses go through, and it is more predictable than most people realize. From hundreds of entrepreneurs, companies and leaders from the USA, UK, Australia, Canada, and Europe, we have learned that there are certain problems and frustrations that come along at very predictable times. More importantly, there are also certain ways to overcome them if you know the journey ahead of you.

In this webinar session, we will look at Woodburn’s China Roadmap method which consists of accomplishing 3 major milestones and 9 superpowers needed by a company, entrepreneur and/or leader to build a “performance” business in China.

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RECENT WEBINARS

WEBINAR SERIES: Distribution of goods and services in China

Are you marketing to Chinese consumers? Do you need tips on how to market to the Chinese? Have you registered your brand name? Have you protected your products and services? Are you looking to setup an efficient distribution structure? Are you looking to buy and sell goods in China, but are not sure how to do this?


Woodburn Accountants & Advisors is offering a series of COMPLIMENTARY webinars on all these subjects. We will provide you with information and tools to enrich your China business skills and enhance your market entry efforts to achieve sales success on the Chinese market.

Who is this series for?
The series is aimed at international companies focused on inbound China investments. The companies are either looking to enter the market or already operating in the Chinese market.


 

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