Doing business the Chinese way

After many years of incubation, UK version of a best-seller has appeared

Ambitious Chinese youngsters have long sought to learn from Western economic theories and best practice, so why don't they tap into wisdom closer to home?

The business expert Zhao Yancheng reckons that not only Chinese but people everywhere can learn from Chinese business practices. He is on a mission to make sure they do.

Zhao Yancheng's book The Causes of Wealth of People, a best-seller in China over the past 10 years, is based on Chinese people's experiences of starting businesses in the country.

An English translation of the book has just been published.

"These are insights and experiences of Chinese entrepreneurs born and bred in China," Zhao Yancheng says. "I think it gives a fresh, Eastern perspective to Western business people, including those doing business with Chinese entrepreneurs."

The book looks at what laws are inherent from the time a project is chosen, he said, adding that it answers fundamental questions about the gestation of business, birth, growth and maturity.

Zhao Jing, founder of ChinaWise, a business advisory firm in Chicago that facilitates business and cultural exchange between the United States and China, says the book's publication is well-timed, particularly for those who have business dealings with China.

"In China, many home-grown businesspeople are a mystery to Westerners," she says. "They have been highly successful in the past few decades and are now going global, so it is important for Westerners to understand how they think, how they handle business and make decisions."  

Lloyd Shefsky, a clinical professor on Entrepreneurship at Kellogg School of Management at Northwestern University in Illinois, says the book provides not only lessons on setting up and operating new ventures, but also interesting perspectives on business and entrepreneurship in China, as well as Chinese culture generally.

In the foreword of the book, he writes: "Not everything in this book is directly applicable in other countries, but you can increase your understanding of entrepreneurship in your country by constantly comparing and asking why a practice or principle is different in China."