A few more good articles on collecting debt in China.  It looks like debt collection issues between the US and China is now a two way street.

Climbing mountains to collect debt
(from the China Daily News)
While US exporters in the manufacturing, technology, transportation, shipping and rail industries suffer the brunt of increases in debts, claims made on individual Chinese consumers – mainly students and tourists who have gone back to China – are also on the rise.
Full Article

Chinese producers face record number of debt defaulters abroad
(from the China Daily News)
Chinese manufacturers are generating large volumes of goods for shipments abroad, but are also facing increasingly huge amounts of defaulted payments from foreign buyers.
Full Article

Do you have your own stories about China.  Let us know.

You can’t seem to turn around these days without hearing about China.  Certainly much of the talk is justified.  Growth rates are high and there is no ignoring the size of the populations.

Although the culture is much different than that of the U.S., people are people.  And, where there are people there are hard-to-collect debts.

A few things about collecting debt in China:

• Actual collection within China must be done by a law firm.
• There are time-sensitive issues with debt collections, so don’t delay
• It’s best to have a partner local to the area.

Here are some good resources to help guide you in your debt collection efforts and doing business in China:

• China Business Review
• International Debt Collection – China
• Peeling the Onion

Good luck.

Proven Quality: When selecting a debt recovery agency, choosing an organization with experience and proven results is important.  The services offered by the agency should be tailored to meet your company’s individual needs.

Expertise: Before selecting an agency, create a list of criteria that will fulfill the needs of your company.  Adequately research the agency, request client testimonials and discuss your needs with an agency representative.  Understanding the expertise offered by the agency will help as you make an informed decision.

Global Agency: When considering international debt recovery, select an organization that offers direct access to your international-based debtors.  The agency should have the ability to offer debt collection specialists in close proximity to the country your debtor is currently residing.  Selecting a company with this type of expertise, offers a specialist working on your behalf that understands the culture, customs, language and laws of the country.

Debt Recovery Litigation: Sometimes litigation becomes the only available course of action, therefore it is important to consider a company that has the ability to facilitate a fast and cost effective course of action.  Because the laws vary in every country, it’s important to employ a company that has a strong understanding of the local laws for the country your debtor is residing.  Doing this research ahead of time, will offer you an advantage if litigation becomes a necessary part of the debt recovery process.