Understanding Chinese Business Culture – Building Long-term Relationships
China’s growth and integration into the global economy is driving changes in Chinese business practices. But non-Chinese executives still need to work hard at building trust in relationships with their Chinese business partners. Guanxi (Personal Relationships) Myths:Mainstream thinking about guanxi falls into two traps. First, it doesn’t recognize that China’s business environment is changing. Second, it focuses on the external rituals of guanxi rather than its true essence. Fundamental Differences in Building Trust: Effective Relationship Building Strategies: Evolution in Chinese Business Culture:China’s business environment is becoming more Western, but personal relationships remain a fundamental element. Successful companies are those that combine professional competence with investment in long-term relationships.