Overview of the Event
On October 26th, 2016 INS hosted its first event at Must Grill, Shanghai. The event was sponsored by FIELDS and XPATS TRAVEL and approximately 50 guests attended. It was focused to expatriates and entrepreneurs living in Shanghai planning on doing business in China.
The evening started with a presentation from our co-host, GOIP, an IT company based in China that provides private and corporate VPN services for China. After the presentation, there was a short intermission where hosts and guests had time to network and get to know each other while drinking at the bar and eating finger food. After the intermission and networking, INS presented about latest administration and HR trends in China. Later on, there was a lucky draw with prizes provided by the sponsors and afterwards, guests continued to network and enjoy each other’s company.
Primarily, we discussed the different steps in order to determine which market entry strategy is the most appropriate and adaptable depending on one’s business plan. First of all, this criteria includes the basic information such as elaborating a SWOT analysis (Strengths, Weaknesses, Opportunities, and Threats) and identifying a clear value chain that illustrates your primary and support activities for competitive advantage of your company. After evaluation, if your business is ready to move to the next step, your firm needs to consider the different solutions for local representation such as the pros and cons between labor dispatch (Home office, Sales office) and having a local structure (Representative Office, WOFE, Joint Venture).
Furthermore, one must keep in mind all of the complicated and time consuming HR responsibilities and procedures in China such as contract negotiation/termination, retention of employees, building a team within Tiers II & III cities, anticipate the job market seasons, and also the differences between hiring foreigners and Chinese nationals. This is where our services can assist your company to have a smooth transition to China and to be 100% China-ready. We can assist in the labor dispatch process and handle all HR operations so that your company can concentrate its time and energy on expanding in China. Lastly, we covered some of the cultural differences a foreign company will face when expanding to China and discussed the latest updates in policies for visas in China.
All in all, the event was a success due to the fact that both the hosts and guests were able to attain new valuable information and have a chance to network with each other. We are expecting to host more events in the near future in order to spread our company’s mission and be of assist to foreign companies wanting to expand their business in China.
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