Mark True (T) and False (F) statements according to the text.

1) Being late for an appointment is considered unimportant in Chinese business culture.

2) During meetings foreign partners may need an interpreter to better understand the peculiarities of the Chinese language, customs and ways.

3) Chinese people are impartial and never rely only on their own judgement.

4) Responsibility for all decisions in China rests with the Communist party and assorted government, so no individuals are accountable for their own actions.

5) The Chinese do not attach much importance to exchanging business cards.

 

China

The Chinese business ethics is rather peculiar, with accounts for a specific historical, political and cultural development of this country, as well as its geographical position, size and pollution.

Appointments

Being late for an appointment is considered a serious insult in Chinese business culture. The services of a host of a reputable Public Relations firm are recommended for detailed work involving meeting and negotiating with senior Chinese officials.

The best time for scheduling appointments are April to June and September to October.

Business and government hours are 8:00 a.m. to 5:00 p.m. Monday through Saturday. There is, however, a five-day work week in larger cities. Avoid planning to visit government offices on Friday afternoon because this is sometimes reserved for “political studying” for the officials.

Store hours are 9:00 a.m. to 7:00 p.m. daily. Most stores in Shanghai however, remain open until 10:00 p.m. Chinese workers take a break between 12:00 p.m. 2:00 p.m. Practically everything “shuts down” during this period including elevator and phone services. When scheduling your appointments be sensitive to holydays such as Chinese New Year. For May Day and National Day many businesses will be closed for up to a week. The date of these occasions varies from year to year due to official advice allowing the long holidays.

Business culture

You’ll find it beneficial to bring your own interpreter, if possible, to help you understand the subtleties of everything being said during meetings.

You will have to make presentations to different levels of the organization. Before you arrive, have at least 20 copies of your proposal ready for distribution.

Printed presentation materials of any kind should be black and white only. Avoid colours that are attributed to special meanings in this culture, many of them are negative.

Generally, the Chinese treat “outside” information with caution.

Except for those educated in the West, Chinese businesspeople largely rely on subjective feelings and personal experiences in forming opinions and solving problems.

Belief in the Communist party line will be a dominant influence in all negotiations.

Empirical evidence and other objective facts will be accepted only if they do not contradict a Communist party doctrine and one’s feelings.

In this country responsibility for all decisions rests with the Communist party and assorted government bureaucrats. Individuals working within this network, however, are still accountable for their own actions. Local decisions are made by the head of the collective.

In Chinese business culture the collectivist way of thinking still prevails even in sectors experimenting with free enterprise.

“Saving face” is an important concept to understand. In Chinese business culture, a person’s reputation and social standing rests on this concept. Causing embarrassment or loss of composure can be disastrous for business negotiations.

The Chinese are very keen on exchanging business cards so be sure to bring a plentiful supply. Include your professional title on your business card’s especially if you have the seniority to make decisions.

In Chinese business culture the main point of exchanging business cards is to determine who will be the key decision-maker on your side.

If your company is the oldest or largest in your country, or has another prestigious distinction, ensure that this is stated on your card.

It’s an asset to have your business cards printed in gold ink. In Chinese business culture gold is the colour of prestige, prosperity.

When receiving a business card that has been presented to you, then place carefully it into your card case or on the table.

Not reading a business card that has been presented to you, then stuffing it directly into your back pocket will be a breach of protocol.

In accordance with Chinese business protocol people are expected to enter a meeting room in hierarchical order. For example, the Chinese will assume that the first foreigner to enter the room is the head of the delegation.

Since there is such a strong emphasis on hierarchy in Chinese business culture, ensure that you bring a senior member of your organization to lead the negotiations on your behalf. The Chinese will do the same. Only the senior members of your group are expected to head discussion. Interruptions of any kind from subordinates are considered shocking by the Chinese.

In Chinese business culture humility is a virtue. Exaggerated claims are regarded with suspicion and, in most instances, will be investigated.

The Chinese will not directly say “no” to you. Instead, ambivalent answers such as “perhaps”, “I’m not sure”, “I’ll think about it”, or “We’ll see” usually mean “no”.

The Chinese tend to extend negotiations well beyond the official deadline to gain advantage. On the final day of your visit they even may try to renegotiate everything.

Be patient, show little emotion, and calmly accept that delays will occur. Moreover, do not mention deadlines. At the end of a meeting you are expected to leave before your Chinese counterparts.

You may have to make several trips to China to achieve your objectives. Chinese businesspeople prefer to establish a strong relationship before closing a deal.

Even after the contract is signed, the Chinese will often continue to press for a better deal.

Vocabulary Tasks

Read the words and find the odd-one-out.

insult – affront – praise – offence

beneficial – helpful – useful – useless – positive – valuable

proposal – suggestion – tender – supposition – offer

contradict – correspond – cancel out – disagree

accountable – responsible – answerable – light-minded

breach – violence – infraction – contravention – violation – transgression

advantage – excellence – merit – integrity – similarity – talent

vulgar – bad-mannered – polite - tasteless

Complete each sentence with a phrase from the text.

1) The best times for scheduling appointments are….

2) Business and government hours are….

3) Friday afternoon is sometimes reserved for….

4) Store hours are….

5) Most Chinese workers take a break between….

6) Chinese holidays are ….

7) In Chinese business culture the collectivist way ….

8) Interruptions of any kind from subordinates….

Match the information in column A with the corresponding information in column B.

A	B
1. In Chinese business culture gold is	a. to enter a meeting room in hierarchical order.
2. Not reading is	b. on hierarchy in Chinese business culture.
3. In accordance with Chinese business protocol people Sire expected	c. the colour of prestige, prosperity.
4. There is a strong emphasis	d. a breach of protocol.

 

Over to you

1. Prove that it isn’t easy to negotiate with the Chinese.

Part II

Professional

Unit I

Banks and Banking Services

Vocabulary Notes

40. to pay no interest – не выплачивать процент

41. to provide smb. with smth. – обеспечивать кого-либо чем-либо

42. an applicant – претендент

43. to overdraw – допустить перерасход средств со счета

44. a reference – зд. отзыв

45. a statement – выписка с банковского счета

46. to keep an account in credit (in balance) – поддерживать положительный баланс счета

47. to pay bills – платить по счетам

48. to offer facilities (services) – предоставлять услуги

49. to charge interest – взимать процент

50. to borrow money from the bank – брать ссуду в банке

51. a base rate – базисная (процентная) ставка

52. available – имеющаяся в наличии

53. to make a payment on the loan – выплачивать деньги по ссуде

54. to vary - варьироваться

Reading Tasks.

1. Understanding main points:

21. What are the advantages of a current account?

22. Why is it necessary to see the branch manager?

23. What interest is paid on a current account?

24. Why is it important for the manager to know your background and the place of work? To be sure that you’re able keep an account in credit

25. Is a cheque book provided for a current account holder? Yes

26. What are the advantages of a deposit account over a current account?

27. What are the disadvantages of a deposit account?

28. What is the most important service of any bank?

29. What is the most available method of borrowing from the bank?

30. Is the interest rate on overdrafts fixed? No

31. What are the advantages of arranging a “personal loan”?

32. How often does one have to pay for using a bank loan?