Forbes Magazine ranked Hangzhou as the best Chinese city for business in 2005 and have made their top 10 list since then.
Today Hangzhou is the leading economic engine in the Zheijang Province with its 22 percent of the GDP.
More and more foreign companies have been attracted to the Yangtze River Delta and many are established in Hangzhou because of the city’s infrastructure and well as educated work force. Some of the Top 500 multinational companies like Bosch, General Motor, Merck , Motorola, Panasonic, Siemens and Toshiba have made huge investments in the city.
Business Etiquette
Visithangzhou.com gives here some advices that can be the key to success for those who intend doing business in China and in Hangzhou:
Entering a meeting
It can happen when you entering a room that your hosts greeting you by clapping. You can respond the greetings by clapping also. It’s common that in the conference room there is one large table in the centre, or tables put in a square. As the system in China is very hierarchical you can be sure that the person who is entering the room first and placed at the middle of the long side of the table has the highest rank. Let your host or his assistants suggest how you will be seated, but the head of your group will always be placed in front of the host.
Dress code
If you are visiting China on business, smart clothing is a must. Suit and tie have become the common business dress code but do not wear anything too noticeable, as that might offend. Conservative casual wear is acceptable when you are not in a business meeting. In the wintertime (see below) it can be very cold in Hangzhou so a warm coat is recommended.
Business Cards
With business card translated into Chinese on one side, and in English on another, you will always have a good start at a meeting.
When you hand over your card, with the Chinese side upwards, hold it in both hands and bow slightly. When you receive the other person’s card give a polite comment before you put it with care in your business card box. Don’t forget to bring quite a lot of business cards with you!
Business and Banking hours
In most offices, also government ones, the working hours are Monday-Friday 9 a.m. to 5:30 p.m.
Banks are normally open Monday to Friday from 9 a.m. to 5:30 p.m. Some banks are open also on Saturdays and Sundays from 10 a.m. to 4 p.m.
Be aware of that some banks are closing for exchange of currency and traveller cheques one hour before the ordinary closing time.