Michael Li. Selling etiquette in china. China . Location: Eastern Asia, bordering the East China Sea, Korea Bay, Yellow Sea, and South China Sea, between North Korea and Vietnam
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Never try to turn a fish over and debone it yourself, since the separation of the fish skeleton from the lower half of the flesh will usually be performed by the host or a waiter. Superstitious people will deem bad luck will ensue and a fishing boat will capsize otherwise.
Every family thoroughly cleans the house, sweeps the floors and washes daily things. House cleaning is believed to drive away ill-fortune and bring good luck in the coming year. Windows and doors are decorated with red paper-cuts and couplets. See New Year decorations.
China has relatively strict foreign exchange regulations. Moving currency in or out of the country often triggers a settlement, registration or approval requirement, depending on the type of transaction. For example, a loan agreement between a foreign lender and a Chinese borrower must be approved by the State Administration of Foreign Exchange or its local branch to be legally effective. For a distributorship arrangement, in order for the local distributor to obtain the foreign currency required to compensate its foreign seller, the contract, invoice and certain customs documents must be submitted to a designated bank for verification that foreign currency is required to meet a valid contractual obligation. A U.S. company should evaluate if the foreign exchange regulations in China have any implications on the planned transaction based on the structure of the transaction.
Depending on the structure of the transaction, a U.S. company may incur tax liability under Chinese law. For example, a U.S. company may be subject to China’s enterprise income tax for certain China-sourced income such as interest, royalties, capital gains, etc. In addition, revenue generated from a licensing arrangement is subject to a business tax in China. The income tax paid in China will be eligible for the foreign tax credit provided under the U.S. tax law, but the business tax may not be similarly eligible.
互惠互利 ( hu4hui4hu4li4) – mutual benefit, mutually beneficial
Definition: Dependent on each other in a mutual or shared manner.
Meaning: We can work together for our mutual benefit.
Definition: Any regulation or policy that restricts international trade.
Meaning: The government has removed a trade barrier on importing foreign cars.
Definition: A part or portion of trade that is divided among a number of countries.
Meaning: Since China started producing for the world market, other countries have lost their share of the market.
Definition: The total market value of all final goods and services produced in a country in a given year, equal to total consumer, investment and government spending, plus the value of exports, minus the value of imports.
“It’s me” “I’m the one” (To Westerners, the gesture would seem slightly funny)
To show confidentiality and secrecy; sometimes no meaning
Boy and girl in love; a good match
Be especially wary at train stations. For example, while waiting in line to buy your ticket, the Chinese tend to push up really tight (for fear of someone cutting in line!) so be particularly cautious about that guy behind you. Also, when at the ticket counter, don’t just casually leave your bag next to you.