From Guanxi to Contracts: While traditional Chinese business culture is famous for its emphasis on `
关系 (guānxi)` (relationships) and `
人情 (rénqíng)` (human favor), the term 交易 represents the modern, globalized, and legalistic side of commerce in China. It signifies a move towards clear, defined, and often legally binding agreements, much like a “transaction” or “contract” in the West.