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Be Aware: Fraud Risks

In: China Business 2.0

Author

Listed:
  • Henk R. Randau
  • Olga Medinskaya

Abstract

China is constantly plagued by fraud scandals. Anyone, whether only doing business with Chinese companies, managing a subsidiary, seeking investment opportunities or conducting merger and acquisition possibilities needs to be aware of China’s high fraud risks. The strong focus on family well-being, the urge to gain status through accumulation of wealth quickly (→ Social Concepts: ), weak controls and a generally relaxed attitude to fraud seem to drive such actions. Not surprisingly, Chinese pay great attention to building trust in business relationships and checking the partner’s credibility thoroughly.

Suggested Citation

  • Henk R. Randau & Olga Medinskaya, 2015. "Be Aware: Fraud Risks," Management for Professionals, in: China Business 2.0, edition 127, chapter 22, pages 103-108, Springer.
    • Handle: RePEc:spr:mgmchp:978-3-319-07677-5_22
    DOI: 10.1007/978-3-319-07677-5_22
    as

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