Stand in Shanghai

Shanghai is the economic center of China and one of the fastest growing economies in the world. The city retains China's last vestige of its colonial past, while flaunting a prosperous cosmopolitan skyline. Shanghai is, therefore, a magnificent blend of eastern and western cultures, where you can appreciate futuristic architecture and peaceful old temples in the same day.

Traveling to Shanghai

• Visas

Visas are needed for all visits to Shanghai except transits up to 72 hours. Most of China is accessible on a standard Chinese visa. A small number of restricted areas in China require an additional permit from the PSB. Extensions of 30 days are given for any tourist visa. Visa extensions take three days and cost ¥160 for most nationalities and ¥940 for Americans.

• Currency Exchange

There are currency exchange services at Shanghai Pudongl International Airport and top-end hotels. All branches of Bank of China and other large banks offer currency exchange services.

Making Business in Shanghai

Shanghai is the commercial and financial center of mainland China, and ranks 16th in the 2016 edition of the Global Financial Centres Index published by the Z/Yen Group and Qatar Financial Centre Authority.
Besides, in the last two decades Shanghai has notably been one of the fastest developing cities in the world. Already the size of Finland, the metro's GDP is growing faster than every big city in the world, according to the Brookings Institution. Within the 200 richest cities in the world, only Shenyang achieved faster income growth than Shanghai in 2010 and only Riyadh achieved faster employment growth.

Are you interested in making (or starting) a business in Shanghai? These are our advices:

• Asians want to do business with people they trust. Focus on building the relationship before talking business.
• Everything in China is constantly changing. China's consistent economic growth leads to continuous rapid transformations in the domestic economy. Therefore, when entering into a contract with a Chinese partner you must be careful to plan for all reasonable contingencies. Do not attempt to enter into an agreement without sound legal advice. Have your own legal counsel. Verify and question everything.
• Asians are not so good with English. It is recommendable to hire a translator.
• Document everything in writing and in precise detail. Present your ideas in stages, using plain English text. In order to appeal to Asian visual bias, use sketches, charts and diagrams.
• It can take several and very long meetings before any tangible progress is made. Never pressure your Asian colleagues for a decision. Patience is essential!

Exhibiting Basics in Shanghai

Are you interested in making (or starting) a business in Shanghai? These are our advices:
Exhibiting basics

What you need to know if you want to exhibit in Shanghai:

• Alcohol is uncommon, but allowed, in most venues.
• Use a disposable phone with a local number to communicate with your local suppliers, as many do not have international dialing capabilities.
• Exhibitors are generally free to play music in their stands.
• Drayage is not typically charged in Shanghai.
• Exhibitors are not required to use union labor, though many show organizers require contractors to fill out certain labor forms.
• Most exhibit halls use 220 volts, but 110 volts can sometimes be ordered.
• Business cards should be printed in both English and Mandarin (but don't rely on computer translation for proper Chinese. You should hire a translator).
• Men usually wear suits and women wear business suits/skirts. Don’t wear a green cap, as it traditionally signifies an unfaithful spouse Asians want to do business with people they trust. Focus on building the relationship before talking business.
• Everything in China is constantly changing. China's consistent 8 percent economic growth leads to continuous rapid transformations in the domestic economy. Therefore, when entering into a contract with a Chinese partner you must be careful to plan for all reasonable contingencies. Do not attempt to enter into an agreement without sound legal advice. Have your own legal counsel. Verify and question everything.
• Asians are not so good with English. It is recommendable to hire a translator.
• Document everything in writing and in precise detail. Present your ideas in stages, using plain English text. In order to appeal to Asian visual bias, use sketches, charts and diagrams.
• It can take several and very long meetings before any tangible progress is made. Never pressure your Asian colleagues for a decision. Patience is essential!

Gift Giving Etiquette

Lavish gift giving was an important part of Chinese culture in the past. Nowadays, official policy in Chinese business culture forbids giving gifts, because it can be considered bribery. Consequently, if you decide to give a gift to a chinese person, it may be declined. In many organizations and environments, however, attitudes surrounding gifts are beginning to relax. In any case, you will have to approach giving gifts with discretion, following this criteria:

• If you wish to give a gift to an individual, you must do it privately.
• The Chinese will decline the gift three times before finally accepting, in order to not appear greedy. You will have to insist.
• In the presence of other people, never present a valuable gift to one person. This gesture will cause embarrassment, and possibly even problems for the recipient.
• Giving a gift to the entire company, rather than an individual, can be acceptable in Chinese business culture. However, all business negotiations should be concluded before gifts are exchanged.

Safety in Shanghai

In this largely Buddhist country, it is extremely rare for a tourist to encounter any problems of a violent nature. In fact, Shanghai is one of the safest cities in the world for foreign travelers. Most likely, the biggest potential threat you'll encounter will be the pickpockets who tend to congregate in crowded places like railway, bus, metro; airports, popular tourist sights and markets.