ABSTRACT

The Chinese people take history much more seriously than their Western counterparts. History can help Western businesspeople to understand certain Chinese attitudes and behaviour in business negotiation or dealings and to build close business or personal relationships, which is extremely important in certain areas for business success in China. In China, since antiquity, history has been taken seriously by imperial courts, politicians, military personnel and businesspeople as well as the populace. After the founding of the People's Republic of China on 1 October 1949, the new government took over control of numerous industrial goods manufacturers and large strategic businesses which were owned and operated by the previous government, such as mining, railways, shipping, the postal service, banking, wholesale and retail. The businesses established in ‘special economic zones’ were permitted to engage in export, manufacturing, agriculture, commerce, housing and tourism, with a high degree of autonomy in how they would attract investment.