A Fistful of Yuan 8: For a Few Yuan More…

24 January 1983, we received a telex from Showa Leasing asking for a quote on a 560 hammer, as they were wanting to propose leasing this hammer to their client, the China National Offshore Oil Corporation (CNOOC.) Realising immediately that the end user was our customer, we forwarded this to Amtech with an outline of … Continue reading A Fistful of Yuan 8: For a Few Yuan More…

A Fistful of Yuan 7: Starting Up, At Last

We had a steady amount of back and forth with Amtech and the Chinese in the months after the SPE show. Most of our interaction with the Offshore Branch in Tanggu concerned the boiler. The Chinese had some difficulty with sorting out things on the boiler set-up. But all was not just about spare parts … Continue reading A Fistful of Yuan 7: Starting Up, At Last

A Fistful of Yuan 6: An Oil Show, an Inspection Trip and an Engineering Contact

While the Vulcan 560 hammer plied the seas on its way to Tanggu, other developments were taking place that, although weren’t directly related to the contract and the equipment, were certainly part of Vulcan’s experience in China. The SPE International Exhibition and Technical Symposium Vulcan certainly wasn’t the first American company to do business with … Continue reading A Fistful of Yuan 6: An Oil Show, an Inspection Trip and an Engineering Contact

A Fistful of Yuan 5: Beijing, Week 2

SUNDAY, MARCH 29, 1981 Angelica and I worked on the contract some (on) Sunday afternoon in preparation for the Monday meeting. This is where, as the old expression goes, we “got down to brass tacks.” The Chinese are very keen on detail, so it was necessary to have every item, every quantity, every price and … Continue reading A Fistful of Yuan 5: Beijing, Week 2

A Fistful of Yuan 4: On Tour in China

SATURDAY, 28 MARCH 1981 At the invitation of the Chinese we took a historical tour, Chen Gui De being our guide, to see the Great Wall, Ming Tombs, and Summer Palace. This is a story best told in pictures. Other tourist photos But the commercial work did not stop while we were tourists. Upon return … Continue reading A Fistful of Yuan 4: On Tour in China

A Fistful of Yuan 3: Beijing, Week 1

At this point we can use the trip report I wrote at the time to make the main body of the narrative. This will appear on this and the next two pages. Same will be cited followed by some commentary. SUNDAY, 22 MARCH 1981 Arrived in Beijing after two-day journey from the U.S., Jess Perry … Continue reading A Fistful of Yuan 3: Beijing, Week 1

A Fistful of Yuan 2: The Road to Beijing

Just before Christmas 1980, Vulcan’s Executive Vice President, W. Calvin Bridges, received the following letter: Amtech represents several well known manufacturers and service companies primarily in the oil and gas and mining industry in The People's Republic of China. We have been quite successful in China over the past six years and have offices in … Continue reading A Fistful of Yuan 2: The Road to Beijing

A Fistful of Yuan 1: Introduction

China: History of a Nation, Emergence of a Market Business with China today seems almost routine, with the enormous volume of goods and services that pass between the People’s Republic of China and the United States (and just about everybody else too.) It’s easy to forget that geography and outlook have made China something of … Continue reading A Fistful of Yuan 1: Introduction