Hong Kong: Let’s Make a Deal!

2015-06-12

Let’s Make a Deal!

Hong Kong is a highly developed business city with a well-established code of business conduct.

Hong Kong business people prefer a no-nonsense approach in business negotiations. It is therefore not necessary to “beat around the bush.” People will come to you when they have a real business need. Business discussions should therefore be straightforward, clear and to-the-point. While relationships (“guanxi” in Putonghua) can have a role to play in certain situations, it has become increasingly the case that the one who can offer a better deal (in terms of price, quality, time-to-market, etc.) would be able to clinch the deal.

The main purpose of networking is therefore to widen your contact points. There is little evidence that a company can secure more deals simply because it has better connections. Competition is intense in most sectors and the final winner is usually the one who can provide the best offer.

Business malpractice and corruption are serious crimes in Hong Kong. The Independent Commission Against Corruption (ICAC) is the major watchdog against all forms of corruption. It is a very professional body that has earned high reputation for its excellent records of making Hong Kong a fairer place to do business.