Cultural Aspects Of Hong Kong

1081 WordsDec 8, 20155 Pages
Cultural Aspects There is a large diversity of people in Hong Kong because it continuously expands in economy and market. This of course, is a big advantage to our industry because although Precious Gems and Stones came in second to the Electronic equipment industries with a high dollar value of $82.4 billion and each export percentage share of 15.7% in terms of global shipments during 2014, the Precious Gems and Stones industry was the fastest growing among the top 10 export categories. It went up 161.1% for the 5-year period which started in 2010. It was also propelled by international sales of unwrought gold and unset diamonds. (worldstopexport.com) Based on Hong Kong’s permanent population, 95% of it is Chinese. So even though much…show more content…
These values include: · Expect a lot of small talk when first meeting a Hong Kong associate. · Do not act surprised if you are asked questions that might be considered very personal back in the U.S. · If someone sucks air through their teeth while you are speaking, it means they are unhappy about what you just said. · Resist the urge to jump into conversation if your associate is silent for a minute. Many Asian cultures have silence as a form of communication. (Hong Kong - Language 2014) When it comes to meetings, which will most definitely happen for the business. Our industry would have to · Avoid scheduling meetings during the Chinese New Year (January 21-February 20). This date changes every year due to the Chinese Lunar Calendar (Chinese New Year 1998). · Allow the highest ranked person to lead and be introduced first. · Let prices have room for negotiation because business is more price than quality driven in general around the Hong Kong region. It is very important to remember that relationships among Hong Kong associates stay consistent. Hierarchical relationships are also tied to respect, which is a key aspect of the Precious Gems and Stones industry expanding its business. Industry Aspects After the completion of extensive research on the inner workings of Hong Kong we must pick a specific industry to invest in within the financial market. The industry that we would like to concern ourselves with is the Precious Gems and Metals
Open Document