EXPERT OPINION
DALEY
version of ourselves. This month my “Daley Solutions” are themed around Chinese New Year and some thoughts on how to do business in China and with the Chinese. This year is the “Year of the Pig” it is the twelfth in the 12-year cycle of Chinese zodiac signs. The Pig is not thought to be a smart animal in China but it is seen as a year of fortune and luck…exciting!
I
They love to negotiate Negotiations are key. The Chinese expect to negotiate. Whilst it used to be like a market barter, it is certainly more advanced now but, all the same, if you have a quote, always go back for another push on the deal. Eye contact is good and it is always good to smile. I find sharing my excitement about a deal does a lot to engage them and this does not take away your ability to negotiate hard. The Chinese are long-term
thinkers, so make sure any deal you are discussing considers the long-term implications. They are one of the most long-term thinking nations, in my view, across the world. To avoid confusion, always check
that everyone has the
same understanding of what was discussed and agreed before you leave the meeting. ‘Yes’ in England means yes you will do something, you agree and you will do it.
To
Chinese, when they say ‘yes’, they mean they will go away and study and discuss it with the team and come back to you. In China ‘yes’ often
20 DIY WEEK 08 FEBRUARY 2019
means “I heard you,” “I understand what you are asking”. They say ‘yes’ because they are a polite nation and don’t want to say the word ‘no’ and upset anyone. Always clarify what has been understood and follow up with an email to help iron out any misunderstanding.
China is where the money is There is a lot of money in China and, more importantly, they can find funds when a business venture and idea is strong enough. It is a nation of entrepreneurs that are smart thinkers searching for value. The new generation is better educated than ever before, have more money; less responsibility, as their parent’s need less looking after than previous generations, and they also have more time. So, a strong business idea will attract a lot of interest; although there will be a fair amount of competition from the western world. The current GDP has sat between 6% and 7% for the past few years, down from the lofty
double digit growth some years back but, as the Chinese say with a wry smile when asked about it, “..wouldn’t you be happy with a rate of over 6%”. Hard to argue with, as it is still impressive compared to the low figures we have become accustomed to. There are rumours that the 6%+ is an overstated figure but, either way, there is strong growth here and, as they have a strong affinity and a warmth to the UK and anything made in Britain, it is worthy of a conversation.
The need to understand I have visited China since 1996, worked for a Chinese business directly and lived there for a time. I love working with the Chinese and they do love to be understood. If you take a real interest and make an effort to appreciate their society and the challenges they have (one has to ask yourself how would we cope with a population 21 times the size of the UK), they will warm to you. They will want to know all
believe that each of us and our businesses
can
improve and that we should strive to be the best
PRACTICAL SOLUTIONS:
THE YEAR OF THE PIG
CFD Strategic Solutions director Clive Daley delivers the second installment of his monthly solutions, unveiling the opportunities for businesses in the Chinese market.
about you and your business, so your credibility and experience is important. Be yourself and share who you are not just in your work life but personally too, they are very family orientated after all.
They will ask many questions about your business and, if you find they are not asking, then offer lots of information. If you can establish a synergy between you and them, then you are ready to collaborate. I studied the language for a year and noted that it tends not to use the smaller connecting words that we rely on so heavily; the “if’s”, “but”, “and”, “not”, so when they speak or write in English sometimes these can be missed, understandably. I once received an important mail
stating “do send the pricing we sent last time”, and when I challenged what I thought was a strange request was informed that a word was missed, “do NOT send the pricing we sent last time”, so always check for clarity. The Chinese language is a challenging one to learn but, if you can make the effort and learn a few words, it will be appreciated by your Chinese connections. The Chinese are all about continuous improvement. Their level of pollution is still a problem, on a recent visit I noted it was still pretty bad. Jokingly my Chinese friends will comment that the mist is bad, of course they know it is pollution, and I can’t help thinking that, in our own efforts to clean up manufacturing pollution in the UK, did we just shift the problem elsewhere, to China? I am sure things will improve as China goes through its own evolution as every trip I make I hear more and more of the initiatives to improve the situation.
www.diyweek.net
Photo: Wolfram K
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