What Are The Steps To Keep In Mind When Entering The Chinese Market?
|Business : Starting Up In Business
Starting by incorporating a company in HK would be a first step whatever one has in mind to do after. Either using it for holdings, to bridge or other reason.
Second step is to research the market and also try it out. iQubator gives possibilities for both. This has to be done on-site, and cannot be exchanged against research done overseas. During this step one must also build relations in China with relevant people.
Registering company. There are different ways to go here, but a Wholly Foreign Owned Enterprise, so called WFOE or “Wofe”, is the most standard way. Some industries are restricted and may not allow this company form, and one must enter into a JV with Chinese majority partner. Depending on industry and operations different licenses are needed and different amount of initial investment is needed for different kind of licenses, for example consulting, trading, manufacturing, e-business etc. Since 2 years back China has begun allowing partnerships, which most notably has opened the doors for cross-border payment systems, and the creation of iQubator.
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