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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

. . .
The end-user often attaches great importance to a company's reputation when purchasing equipment, since they have no other way to estimate whether they will be satisfied with the equipment. Though ample business opportunities exist, there is nothing fast or expedient about getting through Chinese customs. This will appeal greatly to the segment of customers we are aiming to attract. ACS will avoid by all means any political or sexual innuendo. The proper name and slogan for our product will be translated into each of the four main dialects of Mandarin, Cantonese, Sichuanese, and Shanghaiese via translators. ACS seeks to eventually participate with capital in the manufacturing in products to export in an effort to enjoy exemptions. 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. Each distributor must assume responsibility for all after sales support for!

warranties and maintenance services. Vitally all of China's new middle class lives within this region. Therefore, we will rely on the reputation of our product's quality to give us the advantage in the Chinese telecommunications market. Incentives such as "kickbacks", percentages, and other indirect benefits from a foreign party grants motivation to a otherwise low paid bureaucrat. It is within ACS' scope to have a service center in China that will house spare parts shipped in large batches. Even though manufacturers report that competition is driving down equipment prices, price does not seem to be the number one consideration for end-users. China has the world's second largest usage of cellular phones trailing only India, however; due to its large population the current cellular phone market is far from reaching its potential.

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Approximate Word count = 3571
Approximate Pages = 14 (250 words per page double spaced)

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