Some Westerners find it is amazing that, in a Hong Kong restaurant, they always encounter 2 or more parties “fighting” to pay for a bill. What causes this kind of disputes?
Indeed, this is a typical observation of “face” in actions. Whoever pays will have “face”. Even though a party does not want to pay, they have to pretend that they are more than willing to pay. This is the cause of this “fighting scene”.
When having a meal with a business partner, it is important to get the chance to pay for the bill so that the other party will “owe you face”. The trick to achieve this is to say, “It is my honor to have a meal with you, and please let me have the honor to pay.” By asking this, you give “face” to your partner to give you “face”.
However, because there is no “face” involved when it comes to the payment of a commercial transaction, default payment do happen in Hong Kong.
This Credit Insight is an extract from the book Happy Customers Faster Cash, Hong Kong Edition and on sale at Amazon.
A guide to effective communication in financial Customer Relationship Management with a focus on compliance and credit management for Hong Kong companies. A chapter is dedicated to discussing various aspects of Hong Kong company credit reports.
#HongKong #credit #CreditReport #FaBuTX
Alexander has over 25 years of experience in Business Information Management and Information Technology. Previously, he has held leadership positions in the world’s leading Business Information providers, including Managing Director of Thomson Reuters Asia, and General Manager of Dun & Bradstreet (D&B), Hong Kong and Taiwan. In addition, he personally managed Hong Kong's Commercial Credit Bureau while working with D&B, and the Consumer Credit Bureau through his directorship at TransUnion Limited.