Specials DIVERSITY EMPLOYERS MAGAZINE Spring 2011 - Anniversary Commemorative Issue

China For Business Travelers

Depending on whether the measure is purchasing power parity (PPP) or based on exchange rate, China has the second

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 (PPP - with a 2008 GDP of US$7.8 trillion) or third (exchange rate - with a nominal GDP for 2008 of $4.3 trillion) largest economy in the world after the United States. By the PPP measure, China's economy has over-taken that of Japan over the past decade.

China is certainly the place to be for business. It has the fastest growing economy among the major economies in the world, with annual average GDP growth rate of over 10 percent. China's population is over 1.3 billion (according to 2008 estimates), and with an income per capita that has grown at an average of over 8 percent in the last three decades, China has a huge and fast growing middle class and domestic consumer market.

Before You Travel

Check out the latest available information about travel to China:

• State Department on China
• Chinese Embassy in US

Check out information about doing business in China

• The U.S. Export Center
• The U.S. Department of Commerce - International Trade Administration

While in China

Every culture has its own preferences. The Chinese have had a collectivist political culture since 1949. Even though China has been liberalizing and privatizing business enterprises since the 1980s, the country remains collectivist in many ways. The biggest and most successful industries are still government owned and controlled.

You will need contacts, preferably established well before your travel. However, if your trip is a combination Vacation/business trip or a visit to a Trade Show, you can cultivate the contacts while you are there. Your contact will help you establish trust with your hosts and potential business partners.

How you approach people is important. Remain formal when meeting and greeting people and bow slightly forward as a sign of respect. Be diplomatic and do not 'lose face' or allow your contact or hosts to lose face. Do not change the rules. Observe local etiquettes. Take your cue from your hosts.