As a large country, China is composed of 56 ethnic groups that are officially recognized by the government of the People's Republic of China.
The Han Chinese (汉族) are the largest ethnic group accounted for 91.51% (1.2 billion) of the overall Chinese population in 2010.
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Although the currency of China is officially called Renminbi (in Chinese: 人民币), which literally means "people's currency", people are often puzzled by the currency acronyms of RMB, Yuan, CNY, and CNH.
China’s publication on the Standards for Classification of Small and Medium-sized Enterprises (SMEs) were jointly promulgated by the Ministry of Industry and Information Technology, the National Bureau of Statistics, the National Development and Reform Commission, and the Ministry of Commerce on June 18, 2011.
The Standards divide small and medium-sized enterprises (SMEs) into three categories: medium, small, and mini. The classification was established based on the factors of employee size, revenue, and assets amount with the combination of 16 industry sectors. When we were planning for this book, we set to use the term “Chinese company” to denote a company located in China. It was a logical choice because “Chinese” is an adjective of “China”.
Then one of the draft reviewers pointed out that a “Chinese company” also means a company owned by a Chinese individual, but the Chinese does not necessarily to be located in China. After considerable amount of effort, Happy Customers Faster Cash China edition has been published. This book is invaluable for people practicing credit management and collection in China. Statistics of the payment behavior of Chinese companies are provided by Atradius, Huaxia Dun & Bradstreet, and RMS to help you get the real picture in China.
You have heard that “Feng Shui” is a serious topic in the Chinese culture. Ever wonder this is superstition or science? How did the banks in Hong Kong practice Feng Shui?
Some Westerners find it is amazing that, in a Hong Kong restaurant, they always encounter 2 or more parties “fighting” to pay for a bill. What causes this kind of disputes?
For a Debt Collection Agency to operate in Hong Kong, does it need a license? If yes, to which Government department one has to apply?
In the West, a corporate purchase is normally initiated by issuing a purchase order. What is the common purchase procedure practiced in local Hong Kong companies?
Most Westerners know that "face" is very important among the Chinese community. Yet, how to put this in business interactions, particularly when practicing credit management?
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AuthorAlexander has over 25 years of experience in Business Information Management and Information Technology. Previously, he has held leadership positions in the world’s leading Business Information providers, including Managing Director of Thomson Reuters Asia, and General Manager of Dun & Bradstreet (D&B), Hong Kong and Taiwan. In addition, he personally managed Hong Kong's Commercial Credit Bureau while working with D&B, and the Consumer Credit Bureau through his directorship at TransUnion Limited. Archives
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