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Do you speak Chinese fluently? I'm guessing this would be difficult to do if not...

by arbuge 8y ago

bobjordan 8y ago
My Chinese is still pretty basic. Yes, learning some conversational Chinese and a few hundred Chinese characters pretty quickly, is required, if only to keep sane. But, my Chinese communication skill wasn’t/isn’t/hasn’t been a critical key success factor for business success. More important has been, utilizing employees well and having the sense to recognize and call “bullshit” when needed. Like, if a process seems illogical from a good business practices or efficiency point of view. And someone is telling you something that seems wrong. It’s probably wrong, and they don’t know what they are talking about. And, learning quick, most of what you see here in China, is not as it appears on the surface. Underneath, it’s probably a rats nest. Being a good detective is required to survive.
- NicoJuicy 8y ago
  How easy is it to get your money out of China?
  - bobjordan 8y ago
    Not very easy. The best structure seems to be, to setup a parent company in Hong Kong. Then, setup a wholly owned subsidiary in China. Then, just send enough money every month to keep the China operations going. It is easy to get your money in and out of Hong Kong.
    - xor1 8y ago
      I went to Hong Kong earlier this year, and I was amused by how there were luxury watch shops seemingly everywhere. My first assumption was that they were for laundering money out of the mainland.
      - linkregister 8y ago
        There are likely more than enough rich people living in and traveling to Hong Kong to organically keep these watch shops solvent.
      - dsl 8y ago
        Yup. Flying with hard currency or equivalents is difficult. Just don't bring the receipts or boxes for your new watch, bracelet, ear rings, and neck chain.
      - theandrewbailey 8y ago
        I've seen that chocolate and baby powder smuggling is big in Hong Kong. https://www.youtube.com/watch?v=YQm5FZMforg https://www.youtube.com/watch?v=YQm5FZMforg
joefranklinsrs 8y ago
To think about going to China, you're going to have to think about how to LEAVE china first "once the news goes out that you will be leaving China, alleged creditors will come out of the woodwork. The tax authorities will come up with taxes that you owe. Your landlord will explain why you owe it way more than you thought you did. Your suppliers will send you bills for items they never actually gave you. Your employees will demand all sorts of severance." https://www.chinalawblog.com/2018/09/how-to-terminate-your-china-factory-and-get-out-alive.html https://www.chinalawblog.com/2018/09/how-to-terminate-your-c...

Do you speak Chinese fluently? I'm guessing this would be difficult to do if not...

by arbuge 8y ago

Do you speak Chinese fluently? I'm guessing this would be difficult to do if not...

My Chinese is still pretty basic. Yes, learning some conversational Chinese and a few hundred Chinese characters pretty quickly, is required, if only to keep sane. But, my Chinese communication skill wasn’t/isn’t/hasn’t been a critical key success factor for business success. More important has been, utilizing employees well and having the sense to recognize and call “bullshit” when needed. Like, if a process seems illogical from a good business practices or efficiency point of view. And someone is telling you something that seems wrong. It’s probably wrong, and they don’t know what they are talking about. And, learning quick, most of what you see here in China, is not as it appears on the surface. Underneath, it’s probably a rats nest. Being a good detective is required to survive.

NicoJuicy 8y ago
How easy is it to get your money out of China?
- bobjordan 8y ago
  Not very easy. The best structure seems to be, to setup a parent company in Hong Kong. Then, setup a wholly owned subsidiary in China. Then, just send enough money every month to keep the China operations going. It is easy to get your money in and out of Hong Kong.
  - xor1 8y ago
    I went to Hong Kong earlier this year, and I was amused by how there were luxury watch shops seemingly everywhere. My first assumption was that they were for laundering money out of the mainland.
    - linkregister 8y ago
      There are likely more than enough rich people living in and traveling to Hong Kong to organically keep these watch shops solvent.
    - dsl 8y ago
      Yup. Flying with hard currency or equivalents is difficult. Just don't bring the receipts or boxes for your new watch, bracelet, ear rings, and neck chain.
    - theandrewbailey 8y ago
      I've seen that chocolate and baby powder smuggling is big in Hong Kong. https://www.youtube.com/watch?v=YQm5FZMforg https://www.youtube.com/watch?v=YQm5FZMforg

joefranklinsrs 8y ago

To think about going to China, you're going to have to think about how to LEAVE china first "once the news goes out that you will be leaving China, alleged creditors will come out of the woodwork. The tax authorities will come up with taxes that you owe. Your landlord will explain why you owe it way more than you thought you did. Your suppliers will send you bills for items they never actually gave you. Your employees will demand all sorts of severance." https://www.chinalawblog.com/2018/09/how-to-terminate-your-china-factory-and-get-out-alive.html https://www.chinalawblog.com/2018/09/how-to-terminate-your-c...