China and the United States are working together to address their trade imbalance. During the first half of 2017, economic trade between the two superpowers amounted to approximately 1.85 trillion Yuan or 275 billion US dollars.
Sino-US trade saw a 21.3 per cent increase from last year, surpassing the 17.4 per cent increase of Sino-EU trade. This implies the strong possibility of the US overtaking EU as China’s largest trade partner. Add this to speculations that Chinese economy could surpass American economy within 10 years and it is apparent just how influential the East Asian country is in the global economy.
But what does China’s economic rise mean for business communications?
Increasing Use of the Chinese Language for Business Transactions
China’s economic rise is shaking up international business affairs and communications. As the economy soars higher, the Chinese language becomes more common in the business world. In fact, twenty percent of the world’s population speaks some form of Chinese as their first native language.
Foreign businesses and corporations are learning the language or, at least, using translation services to reach out to Chinese businesses. It is their way of developing a strong relationship and securing business transactions with companies from the economically influential country. Be it interpreting contracts, negotiating terms or ironing out operational matters, doing so in business Chinese ensures lesser turnaround time in getting business done.
Opening Your Doors to a Wider Audience with Translation Services
The increasing use of the Chinese language for business transactions is a display of soft power. It shows evidence of the country’s economic influence. Given thus, consider expanding your business’s communication skills with Chinese translation services. This opens the doors to Chinese business partners, enabling your business to benefit from China’s economic progression.
As a Singapore language translation company, Lingua Technologies International offers Simplified and Traditional Chinese translation services. Our professional services follow a stringent four-step process called TEPV (Translation, Editing, Proofreading and Validation), making sure that every translation is precise.
Use a translation company that practices the same amount of due care and diligence you need for localization projects big and small, simple and complicated. Call us today.