YaleFunds Publishes “Driving in China: Understanding Chinese Social and Business Behaviors”

Doing business, like driving, in China, is very different from what we have accustomed to in the West. It pays to have someone who understands China's social, business behaviors and has the insight on how things are done there. Above all, you must have the "right connections" on your side.

WUHAN, CHINA (PRWEB) August 9, 2005 -- YaleFunds Management and Research Co. today publishes a feature article on its Website, www.yalefunds.com/china/driving.html, under the Section “Insight China:” “Driving in China: Understanding Chinese Social and Business Behaviors.”

Driving in China for a foreigner is a horrifying experience.

“Any foreigner not having to drive in China is truly lucky. Otherwise, it's a great opportunity and experience of a life time to learn Chinese social and business behaviors,” said Yale Wang ReiSoleil, chief executive officer of YaleFunds. "Driving without maps, cutting in front of any moving car without any signaling and caution, abruptly making right turn from the far left lane … all these behaviors have the same psychology as running companies without business plans – the generations-old gambling mentality deep in the Chinese Mind: Diving in first, Consequences later. From Mao Zidong’s ‘Great Leap Forward’ in the 1950s’, ‘Cultural Revolution’ in the 1960s’ and 70s’, to the government officials literally gambling away hundreds of millions of dollars in Las Vegas with Chinese government/public/corporate money most recently, to driving a little car down the neighborhood streets, all show the same reckless risk-taking tendency so innate in their hearts. "

The article views and describes varied aspects of the driving conditions in China and has eight pages. A reader will find the author’s observations of messy lane fighting, aggressive driving styles and the horn honking craze. The article expresses views on the pricing structures and values in today’s Chinese society including a peek at the socially privileged classes, opines on local and national rule-making motives and analyzes the psychology for why the majorities of Chinese drivers do not use road maps.

It offers Western readers a basic understanding of the insight for why and how Chinese societies and governmental entities interact and ways and reasons for how they conduct businesses.

About YaleFunds Management and Research Co.

YaleFunds is an investment banking firm recognized for its corporate and financial communications expertise, and counseling capabilities.

YaleFunds provides strategic and financial services to clients through every phase of the economic cycle. It offers services in all the critical areas - from corporate finance, transactions, valuations, dispute consulting and forensics, personal restructuring, and reorganization - with a focus on helping our clients increase value. YaleFunds provides public and private clients in North America, Europe and Asia with services that include financial consulting, capital raising support, M&A negotiations, and joint venture advisory. For more information, visit www.yalefunds.com.

About Contradictions in Today’s Chinese Society

China is rich in contradictions for Western firms. The world's most populous nation, China covers an area larger than the United States. Yet the China market is small and concentrated in a few areas along the eastern seaboard. China is one of the world's oldest civilizations, with thousands of years of history, literature and culture. Yet the People's Republic is a mere 50 years old and most of the laws and regulations governing business and trade have been written in the past twenty years. Courtesy toward guests is a virtue in Chinese culture, and Chinese people can be extraordinarily hospitable and kind. Yet everyday discourse in china is rude and confrontational and the China market is full of cheats and swindlers. China is a communist country; the first article of the Chinese constitution states that China is a socialist country under the leadership of the proletariat. Yet, over the past twenty years China has moved from a planned to market economy and is now in many ways more capitalist than communist. While China has achieved an astonishing economic rise in the past twenty years, it is still governed by a backward, primitive bureaucratic local government system that controls everyone's everyday life.

Forward Looking Statements

This press release includes "forward-looking statements" within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Words such as "expect," "estimate," "project," "budget," "forecast," "anticipate," "intend," "plan," "may," "will," "could," "should," "believes," "predicts," "potential," "continue," and similar expressions are intended to identify such forward-looking statements. Forward-looking statements in this press release include, without limitation, forecasts of market growth, future revenue, benefits of the proposed merger, expectations that the merger will be accretive to YaleFunds' results, future expectations concerning available cash and cash equivalents, YaleFunds’ expectations with respect to future stock repurchases following the merger, including the timing and amount of such repurchases, and other matters that involve known and unknown risks, uncertainties and other factors that may cause actual results, levels of activity, performance or achievements to differ materially from results expressed or implied by this press release. Such risk factors include, among others: difficulties encountered in integrating merged businesses; uncertainties as to the timing of the merger; approval of the transaction by the stockholders of the companies; the satisfaction of closing conditions to the transaction, including the receipt of regulatory approvals; whether certain market segments grow as anticipated; the competitive environment in the software industry and competitive responses to the proposed merger; and whether the companies can successfully develop new products and the degree to which these gain market acceptance. Actual results may differ materially from those contained in the forward-looking statements in this press release.

YaleFunds undertakes no obligation and do not intend to update these forward-looking statements to reflect events or circumstances occurring after this press release. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. All forward-looking statements are qualified in their entirety by this cautionary statement.

Personal Views

The views expressed herein are not intended to be scientific studies, or be politically correct nor have they been endorsed by any organization, government body or authority. The idea is to offer our clients no-nonsense opinions expressing insights for doing business in China.

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