As a result, the government determines what rights the businesses have. Haley said companies ought to also consider hiring staff for the long haul. Because business in China is based on relationships, employees can t expect to change jobs every two or three years, Haley said. For example, if an executive leaves, there will be a little bit of a holdover, but then you basically have to start over. Even choosing a city in which to operate could be troublesome.
Many provinces ignore China s federal government.
As a result, insurers would need a license from China and promises from the province. Haley said of insurers looking to enter China. Companies looking for a quick change in culture and business could wait a long time, and they could lose more than they expect, even if the country changes its laws. Copyright 1999, A.M. Best Company Return to Archive page Return to Table of Contents Contents of this site are subject to the A.M. Best Company Terms of Use . Questions or comments, please Contact Us.