China is making big progress after entrance of WTO however IPR dispute is happened occasionally. IPR has been acknowledged and protected in China. China is making big progress after entrance of WTO however IPR dispute is happened occasionally. China has been moving its intellectual property rights (IPR) regime closer to those found in many more developed nations.
China is making more comprehensive laws, and more attention to enforcement have led to an increase in the number of IPR infringement cases being brought before the courts or taken up through China’s administrative procedures.
The Trade Union is very weak, many firms and organisations do not have Trade Union, this is one of the reasons that the labour cost is low in this country. According to (CNN Money online 2008) the Chinese government issued a new labour protection law, in which the employer has to provide new employment contracts with social security programme and overtime pay.
As a result, the labour costs have been raised by 10 to 15 per cent annually According to Yang (1986) explored that the art of Guanxi “lies in the skilful mobilization of moral and cultural imperatives, such as obligation and reciprocity in pursuit of both diffused social ends and calculated instrumental ends.
The system of Guanxi which relies on trust and consents of mutual advantages leads business succeed in Chinese society. According to “symbolic capital and mutual obligation and trust, and are alternatives to contracts and legal rights”.
Chinese Relationship Hierarchy “Guanxi” plays an important role in Chinese business culture, this relationship is deeply permeating to all different Chinese firms and organisations.
There is no doubt that China is regenerating and becoming modern but it is not becoming a western entity. The Chinese do not compromise on their national and local cultures and beliefs even though they are at the head of the curve. The Chinese business system may differ like in China coalition and competition between businesses is much closer and integrated.
On the other hand, British have the content that the business refers to be totally dependent on competitiveness and striving through market. The business system of China relates more into synergy than in competition. The relation between British and Chinese economic sector is the ideology of culture and the anticipated culture disputes which cannot be ignored. In one’s simple opinion culture can be defined as any entity, it’s different for everything. An organization has a different and distinguishing culture as compared to the other one.
Nevertheless, when it comes to the culture of a country, it is totally a different object. The culture of a country is so vast and important that it cannot be avoided. The concept of culture is the agreement, differencing and then settling it by using tactics to have consent of both the parties and countries (McNamara, 2000). The business association in China becomes a social connection after the business is on the track. However in case of British businesses, even after a long time the relationships are always proficient and professional.
If a company wants to indulge in the business of China, they can achieve it by targeting the social culture of this country. The discussions and meetings should be formal but should include personal matters which removes the hurdles and improves the relationship. The basic step in investing is not to make generalisations, especially in the case of doing business in China. Not only investing money but also investing expertise, time, energy and other factors are also vital in this case.
These understandings give safety to a company while facing confrontations in future. There are many aspects to study before doing business in China but the following factors identified through are specifically targeted for entering into a Chinese market (Kwintessential, 2010): 1. Establishing relationships and contacts is the most important aspect in China. The more informal and social, the better you get closer with them. The meetings and all business activities should be professional but also in accordance with Chinese culture.
Essay About Chinese Culture. (2019, Nov 27). Retrieved from https://paperap.com/paper-on-9948-chinese-culture/