Having spent two years negotiating and closing an investment in China, I thought I will share some thoughts on what I have learnt (so far) about conducting cross-border deals.
1. Yoga classes should be a prerequisite. It is a huge test of patience.
2. Emails drop into a black hole – IM or call.
3. Every question is a statement. A repeated question is a protest. Pay attention.
4. Always ask for multiple opinions. Never trust the self-declared “expert”.
5. Invest face time. Maintain both official and unofficial communications channels.
6. English is not a measure of business capability.
7. Risk-reward in China does not pay off. The risk is basically unlimited. ROI cannot be the only consideration.
8. Trust is the basis of the relationship. Legal protection won’t actually protect you.
