China
In China the banking system is completely under government control with the Chinese yuan serving as the basic unit of currency (8.70 yuan equal U.S.$1). The People's Bank of China is the central financial institution and the sole source of currency issue. China's international accounts and foreign currency arrangements, however, are primarily the concern of the Bank of China, which has forty-nine branches, including offices in Hong Kong, Singapore, and London. In addition, China has four other banks: the Agricultural Bank of china, the People's Construction Bank of China, the of China, and the Bank of Communications of China, which is responsible for global communications and international business transactions. The common payment schedule for a shipment of telecommunications equipment in China is a reverse version of the common international schedule. In most countries, the purchaser makes a down payment on the equipment, after which the vendor matches the down payment with a! bank guarantee. The bank guarantee ensures that the purchaser will be refunded the amount of the down payment should the vendor fail to supply the equipment according to the agreed-upon terms. In China, the American Communication Services must first submi
ledge sharing. Though ample business opportunities exist, there is nothing fast or expedient about getting through Chinese customs. China guards their domestic market since access to it is it's major bargaining chip when dealing with multi-national companies. China is also concerned about inflation and loss of foreign exchange currency out of the country. For these reasons, the market is strictly monitored by a system of state controlled import and export organizations. The Chinese government promotes trade with GETDZ as well as agreements with GATT. In order to join GATT, China has had to lower it's tariffs and non-tariff barriers. China is well known for impeding trade via high tariffs and non-tariff barriers. Most of the burden from the high tariffs fall on the shoulders of the end user, but it also effects the seller as well. ACS seeds to minimize the tariffs by importing into the GETDZ. We anticipate the tariffs to raise as China invests more into their domestic telecommu! ed country." Though the high growth of China has increased the demand for imports, there is the fear by the Chinese that imports will dominate the market. Consequently, this has prompted the MEI to lobby for increased domestic production. The preference effect for local companies will grow as China expands it's ability to produce high technological equipment. It is unlikely that domestic production will emerge as a major source of competition during the next five year plan. Increasing numbers of Chinese are benefiting from economic growth, although wages are still low. Traditional communities and townships are being dismantled and abandoned by young Chinese seeking to migrate towards the east coast. The younger working class generation of Chinese are well in-tune with the luxuries of the West. Many of these individuals are very arrogant about their newfound wealth, and often choose to spend extravagantly rather than save or invest in the future. End User Not only is the east c! on in China lives close to the eastern coast along the Yellow, East China, and the South China seas. This equates to the presumption that the largest population of potential customers are concentrated in a relatively small area. The economic growth along China's eastern regions is supporting several major industries, from heavy manufacturing to small electronics. China is building the basis for a world economy with a solid foundation, however; China's success will require an efficient means of communication services and an extensive hard wire system which are not currently available to the public. Building a hard wire system will require over five million miles of cable and thousands of man hours to complete this project. This is not a feasible solution to meet China's immediate needs. Cellular communication is one method that will help China solve its current communication problems. Another advantage cellular technology has over hard line systems is mobility. In the United St! oast of China the population center of the country, it serves as its economic center as well. There are thirty-four cities on or near the eastern coast with a million or more residence in each, These cities include Beijing, Shanghai, and Guangzhou, among others. These eastern cities are at the hub of China's new found economic progress. Vitally all of China's new middle class lives within this region. The customers in our chosen markets will primarily be of the urban middle and upper class. Within these groups there has been an explosion in recent years of young professional on the go. They need products like our cellular phones to allow them the mobility that they require. These professionals in China are becoming more and more concerned about image, much like here in the United States. It is important to keep in mind that cellular phones are not only a way of communicating language, but also represents status. We must make sure that our cellular phones represent both quality! ritical to our speed
Some common words found in the essay are:
Communication Services, Regulatory Commission, GATT China, Translators Association, Eastern China, Market Factors, South China, Strategy China, Bank China's, China China, communication services, american communication services, american communication, cellular phones, bank china, bank guarantee, foreign exchange, company acs, telecommunication products, letters credit, middle class, international company acs, direct eye contact, china american communication, hard wire system,
Approximate Word count = 3571
Approximate Pages = 14 (250 words per page double spaced)
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