Financial Specifics of Business in China by Tomáš Rak and Michal Obručník from Komerční banka

How does banking work in China? How to decrease the risks when doing business with Chinese counterparts? Those were the main topics of the expert lecture organized on November 24th, 2022 by the Department of International Business as a part of the course 2OP531 Trade and Business in China. Tomáš Rak and Michal Obručník from Komerční banka were so kind and accepted the invitation to share their valuable experience with our students.

Tomáš Rak, a graduate of the Prague University of Economics and Business (2001), is the head of Trade Sales at Komerční banka, where he and Michal Obručník, among others, work on corporate and investment banking and global transaction banking. They explained to our students the specifics of the Chinese currency and financial specifics of business transactions between the Czech Republic and China, presented the challenges currently affecting trade between the two countries, and explained how to avoid risks when doing business with Chinese companies via the use of banking services.

The course 2OP531 Trade and Business in China is a compulsory course within the minor specialization – Chinese Studies and is also offered as an elective course for all students of Master’s programs at the Prague University of Economics and Business. Lectures are taught in English in culturally mixed teams of students who work together on a term project. The course is supervised by Ing. Jitka Volfová, Ph.D., who lived in China for almost three years and wrote her Ph.D. thesis on the topic of Chinese Business Negotiation.