Doing Business in China For Dummies®

At Long Last: Telling the Public and Celebrating the Deal

Although most of the hard work is behind you now, you still need to get a few very important details right. You’ll be working very closely with your new Chinese partner in figuring out how to deal with the news of your new venture, preparing for the formal signing ceremony, and last but not least, celebrating the new relationship. In this section, we show you how to wrap things up the Chinese way.

Announcing the news

If the Chinese agree to an announcement, you need to negotiate the wording in both Chinese and English. The last remaining detail is to agree on when and where to simultaneously release the announcement. Usually, the press releases are announced simultaneously in China and your home country. To be polite, consider letting the Chinese side announce it just before you do.

Make sure you’ve obtained all government approvals for your company to operate in China. The last thing you want is to announce the deal before the government has finally approved it.

Chinese and foreign companies often sign a letter of intent before full negotiations have finished. The letter of intent can be announced before the negotiations and approval process are finished, but you still need to get your Chinese partner’s approval before you make anything public.

Never release any announcement without getting permission from your Chinese ...