Many other bloggers and journalists said it for many years: China is a land of opportunities for foreign companies. However, China is also a tricky market, with different rules, practices and culture according to European habits customs. SJ Grand is a boutique professional services firm providing tax, accounting and corporate advisory services to foreign-invested companies in China. It helps European companies to have less-risked investment and to adapt their model to the Chinese culture. Chinese consumers have become a great target for companies, especially in the sector of tourism, luxury, and ecommerce or food industry. The emerging middle class is the promises of a substantial and steady growth of the national market; and it provides revenues for the foreign companies.
Market entry in China is complex for European companies
However, we can see that western companies, and especially European companies, experience difficulties to established a good foothold in China; because of a lack of knowledge about the market and the culture. When it comes to such difficulties, first thing in mind is the adaptation to the market, consumer needs and communicative skills. But a consultant from SJ Grand told us: “many European companies mainly said they have to adapt to a new range of taxes, to a different financial process, to specific accounting rules; internally, working with Chinese staff also means to manage a lack of transparent information and a wide scope of practices which are related, in our European mind, to fraud, corruption and opacity”. Generally speaking, it is a whole law regulation which is different and most of time hardly understood by European investors. “China is going to build a standardize business law regulation but for the moment, it works with implicit laws. People are more likely referring to the customs than to the legal document” said a consultant from SJ Grand. He adds that “in this complex business environment, risk is unavoidable. What we do is to help our clients to understand these risks, manage them and to create value by turning risks into opportunities”.
SJ Grand provides expertise in China
Established in 2002 in Hong Kong, SJ Grand now operates a network of offices across China’s leading hubs of foreign investment: Beijing, Shanghai, and Shenzhen. The firm provides value all over the process of establishing, maintaining and expanding a business in China. Its experts are specialized in developing legal, financial and management organizations to drive growth and profitability.
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