China Watch Blog wishes to inform people doing business in Mainland China that purchasing goods using a Company cheque for payment requires a lot of formalities that you may or may not know about, and at the end of the day, it can be a very daunting exercise.
When you handle a Company cheque in Shanghai, the cheque must never be folded or it will be considered invalid. So that is why most Company have what is known as a “cheque wallet” to keep the cheque intact to avoid any creases or folds that will make the cheque invalid.
In order to pay for goods or services using a Company cheque, the purchasing Company has to also produce his Company’s registration papers as well as a Company’s chop. This is standard practice.
Believe me, the process of getting the cheque accepted by a Company is not only time consuming because it has to be handled by the accounts department of the Company selling you the goods, but it has to have the signatures of the “authorized” persons, who may or may not be around when you purchase a produce and try to issue a Company’s cheque.
Do not be surprised if some Companies insist on having some other documentation as well before they accept your Company’s cheque to purchase some things that you might need for your Company.
So, that is why most companies pay cash to avoid all these hassles.
China Watch Blog has learnt that China’s consumer price index (CPI), the main gauge of inflation, rose 5.5 percent year-on-year in October, weakening from September’s 6.1 percent.
Shanghai Pearl Oriental TV Tower
The China Daily quoted the National Bureau of Statistics (NBS) as saying that the October CPI growth marked the slowest surge since May this year, softening from 6.1 percent in September, 6.2 percent in August, 6.5 percent in July and 6.4 percent in June.
On a monthly basis, the cost of living added 0.1 percent in October, said the NBS in a statement at its website, adding that food prices, which account for nearly one third of the basket of goods in the nation’s CPI calculation, moved up 11.9 percent in October from a year earlier but dipped 0.2 percent month-on-month.
China Watch Blog wishes to announce that we have expanded and our main website – www.GCTL8.com and also China Watch Blog is no longer read in only English, Simplified Chinese and Traditional Chinese as we now also have our articles translated into Japanese by our Japanese associate.
For those who read Japanese, kindly go to this link
Trade Info China to see our selected reports translated into Japanese.
Our Japanese version articles were launched about a month ago. For those who want exposure to the Japanese market, kindly contact info@GCTL8.com for details of advertising into the Japanese market.