Business in China is much like the country itself, huge potential with many and varied opportunities, rapidly changing, fascinating, frustrating, full of contradictions but impossible to ignore. China's economic growth over the past 25 years is probably the largest most sustained period of wealth creation in the history of the world and there is no question that China will soon become a major, if not the major economic centre of the world to come.
China's business environment has entered a new phase of maturity, compared to the relative disorder of the recent past. New laws and clarifications on unified company taxation, transfer pricing, M&A, labour law, VAT rebates, tax holidays, company law, Intellectual property and the WTO all seek to stabilise the landscape for foreign investors and owners. However, this improved operating environment carries greater requirements for compliance and record keeping, failing which penalties can be swift and punitive.
The sheer pace of development has demanded a transition in the economy, legal and regulatory environments on an unprecedented scale and time frame. As a result, there remain grey areas between the mass of contradictory information, practical realities and rules of law and enforcement. This is exactly where Redfern Associates are able to guide and assist.
Foreigners choosing to enter the Chinese market are naturally challenged with gathering the right information and understanding it in a concise useful manner, which starts with knowing the right questions to ask. Ask a one dimensional question, get a one dimensional answer. China requires specific answers to your specific circumstances and within the context of your wider business objectives.
Uncertainty is a common barrier for entry to the China market. Our experienced executives have accumulated years of practical experience in China, both on the ground and in the boardroom and this is your guide to China. We can minimise your risks, adding value in areas which may not even have been clear at the outset. An understanding of how to work in China and with the Chinese at all levels is vital in avoiding common mistakes. Further, in China you'll need to know who to talk to and how and this can only come through time spent here.