Chinese Negotiation Style, Chinamarket, China, Business
One of the most frequent questions I'm asked is "What is the Chinese Negotiation Style?". There are books written about this topic and in this post we are going to start with the most basic introduction.
The basic answer is a mix of building a relationship as well as bargaining for the best deal. Relationships are also referred to as "guanxi" by the Chinese. We will talk in more detail about this concept in more detail in other programs.
When negotiating with the Chinese, it is important to be patient, polite, and especially respectful of their culture, although don't let any of these get in the way of being a strong negotiator.
Expect your Chinese partners to be welcoming, though don't underestimate their business savy. The relationship building side is sometimes overlooked by foreign business people. For the Chinese, it is important what is your position in the company, what is the company reputation, and do you keep your word.
The signed contract does not necessarily hold the same importance for the Chinese as for many foreigners. The Chinese often look at the signed contract as a summary of what was discussed and later on if their are disagreements prefer to talk them out versus first going to the contract. This is another reason why having a good relationship is important.
If you like this post, there is more advice and tips for you about the Chinese Negotiation style as well doing business with China. You can get afree guide. Just visit www.ChineseNegotationStyle.com.