Hong kong business culture(Cross culture ppt)Presentation Transcript
Hong Kong Business Culture
If you want to play a new game, you must know the rules.
Official languages, Chinese and English.
Hong Kong has no official religion.
Capitalist form of government. .
Ceded to the United Kingdom in 1898 Opium War.
1997 returned to China.
Economic and Cultural bridge between the Capitalist West and the Communist East.
Acceptable Public Behavior Traditional English or Chinese greetings. Initial greeting, bowing to a senior. Recognize the most senior person. Physical contact. Personal spatial area is closer. Do not blink at someone. Sitting Posture.
Cont…. Avoid aggressive or loud behavior. Repression of emotions is emphasized. Treating opposite sex and same sex. Business cards . Receiving a Business card.
Business Attire Appropriate dress for men . Women’s suits. Blue and white .
Conversations and Networking Avoid politics. Health and business. Offering opinions. English speaking.
Dinner etiquette Accept dinner inventions. Always bring fruit or candy. Arriving greet everyone. Seating etiquette. How to use chopsticks. Napkins are not provided. Tipping is not expected.
Gifts Gift giving is important. Refusal of your gift. Receiving a gift. unwrapping a gift. Never wrap a gift in blue.
The Importance of “Guan xi” • Guan xi = Personal Relationship • A formidable concept. • Success in Hong Kong.
Two words: Time and Patience.
How to solidify “Guan xi”.
Behavior ”Ganbei” Chinese toast, an integral part. Expectation to drink. First toast. Impolite to refuse to drink. Drinking an important part of the relationship building . Bar hopping and karoke. End of trip.
Communications The handshake and bowing. A round of applause. Silence in high regard. Order of Names Use titles with names whenever possible. Appointments and Punctuality is expected. Only black and white materials for presentations.
The Giant Awakes • GDP growth. • Growth in foreign trade. • Foreign direct investment. • The sixth-largest economy.
Opportunities in Hong Kong
Biotechnology and Pharmaceuticals
Risks - Macroeconomic
•Overheated economy. •Demand for energy outpacing supply. • Intellectual property laws.
Why Businesses Fail in Hong Kong • They don’t make the right contacts. • Needs and expectations not properly communicated. •Chinese business culture not understood. • Impatience.
Increasing Foreign Direct Investment ( FDI ).
Increasing use of Wholly-foreign Owned Enterprises and Joint Stock Companies vs. Joint Ventures.
Increasing business / industry sector.
Market conclusion… Potential Large Consumers Market. Continued Growth. Hard Working, Skillful and Inexpensive. Labor Force. WTO Commitments. M&A Since 2003. Government Incentives. Improving Standard of Living.