Tuesday, January 18, 2022

5 Tips to Successfully Negotiate With Powerful Chinese Companies

There are rules to follow to successfully negotiate with powerful Chinese companies. The game is unbalanced in favor of the Chinese companies. After all, you’re on their home ground playing by their rules. But you can still successfully negotiate in China by following the tips below.

You need to learn the rules to successfully negotiate with powerful Chinese companies.
You’re on their home ground playing by their rules. (Image: via pixabay / CC0 1.0)

5 tips to follow to successfully negotiate with powerful Chinese companies

1. Buck yourself up

Make sure you remain focused and psych yourself up for the day.

2. Understand your goals and theirs

Research what the Chinese company actually wants from a deal with you. Know the Chinese company will negotiate from its strong home advantage, and that they will cover up many of their underlying aims. If you have done your research well, you can disregard a lot of what they say because you know what their real endpoint is. Thus, you can implement you own strategy and safeguards to get what you want.

3. Prepare, prepare, prepare

Make sure you prepare in the right areas. Nobody knows your business better than you, and you will have thought through the important details you want in the contract. If you have suspicions about the company you are dealing with, have the company investigated before you sign a contract or hand over any money. If you do this afterwards, it’s far too late.

4. Listen and ask questions

Direct questions weed out poor quality Chinese partners. If the company offers vague and evasive answers (like “Don’t worry!”), be on your guard that something is up. Maybe you are just dealing with an underling who doesn’t know the answer. But f you ask specific questions, like what the name of the company on the contract will be or who owns it, and no one knows or is willing to tell you — you have a problem.

5. Keep your cool

The Chinese are expert at stroking a foreigner’s ego. If you are being complimented for your great Chinese, even though you know you don’t speak Chinese well, or your ego is being stroked in any way, be alert! These people want something from you. Remember to remain focused on making a good deal, not on inflating your ego.

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John Andress
Having had many eclectic experiences and expressing interest in so many varied things in life has suited my role as Editor-in-Chief of Nspirement. Being trained in the sciences, I worked in the medical field. Scuba diving was a passion, being part owner of a scuba shop, and I enjoyed diving around the world. Raising reptiles of all sorts, including poisonous snakes, was also one of my hobbies when living in the U.S. After moving to Australia in the 80s, I became an avid organic grower of tropical fruits and vegetables, which my wife and I partake of year-round, as well as many of our friends. My newest endeavor has been to become a “bikie” — an eBikie, which I do every day not only to get exercise, but also to have a break from slaving over my computer most of the day. Obviously, China is also a passion, which is something Nspirement specializes in, so I feel very fortunate to have a role here at Nspirement.
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