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Other titles in the Economist series:
Doing Business in China: A Guide to the Risks and the Rewards (Economist Books)
Synopses & Reviews
China has a long history of confounding multinational companies. Many firms' strategies for China have failed and companies have been forced to revise plans to take into account the idosyncrasies of the Chinese market.
This book examines the strategies that have succeeded and those that have failed, with chapters on the political and economic context, how to assess the market and manage corporate expectations and structures, how to negotiate legal and tax issues, manufacturing and distribution, making acquisitions, dealing with corruption and financial crime, attracting and retaining talent, the importance of establishing and maintaining relationships (guanxi), corporate governance and social responsibility, and the China of the future.
With many businesses experiencing sluggish growth or even decline in their traditional markets, China seems to offer the chance of heady growth. For those who get their approach right it does, but there are many obstacles to be negotiated on the road to success. This book explores the difficulties of doing business in China and how to take best advantage of the opportunities that exist to achieve the level of success that every business aims for in China but not that many achieve.
"The opportunities for those doing business in or with China may be growing but so are the challenges. This highly readable book, with its dozens of anecdotes of success and failure in the China market, highlights the key issues facing investors and how to deal with them."—Tim Clissold, CEO, Peony Capital and author of Mr. China
"Sensible, informed and up-to-date information and advice on operating in China comes along surprisingly rarely. This book is a welcome antidote to the extremes of bullish hype and bearish despair that is typical of commentators on this huge market."—Stephen Green, Head of Research Greater China, Standard Chartered
China is largely insulated from the worst effects of the global downturn, thanks to several factors: its banks have limited links with the international financial system; its institutional and regulatory apparatus is increasingly robust; mainland consumers enjoy low levels of debt and one of the world's highest national savings rates; and private consumption is rising steadily among the country's fast-growing middle class. China's exporters may be doing less well now but the domestic market offers huge opportunities, and the country's economy is expected to maintain high single-digit growth over the coming years.
Many firms have come unstuck in China, often thinking mistakenly that it would be an easy market to crack and that they could rely on their strategies for developed markets to operate in mainland China.
This book examines the context in which businesses have to operate in China, the strategies that have succeeded and those that have failed, and it assesses the importance of a range of different factors in making sure any business venture in China is successful.
The book contains ten chapters and a number of appendices:
China has been largely insulated from the worst effects of the global downturn. The country’s economy is expected to maintain high single-digit growth over the coming years, far outstripping the developed world. China will be a keystone for sustained growth for companies that can navigate the challenges and succeed there.
However, China has a long history of confounding companies that want to do business there. Strategies that work elsewhere need to be reexamined to take into account the idiosyncrasies of the Chinese market. This book examines the strategies that have succeeded and those that have failed. Chapters examine the broad range of political and economic realities that one faces working within the Chinese market: how to assess the market and manage corporate expectations; corporate structures; negotiating legal and tax issues; manufacturing and distribution; making acquisitions work; dealing with corruption and financial crime; attracting and retaining talent; the importance of establishing and maintaining relationships (guanxi); corporate governance; social responsibility.
About the Author
Christopher Torrens is a China specialist with Control Risks, a global consultancy, and was its director of corporate investigations for China. He has worked in China for 16 years and speaks Mandarin. He holds an MBA from the China-Europe International Business School and a BA Honours degree in Modern China Studies.
Table of Contents
List of Figures.
List of Maps.
List of Tables.
1 Making it work in China.
2 The Political and Economic Context.
3 Assessing the Market: Pre-market Entry.
4 Investment Risk: Dealing with Regulations and Operational Challenges.
5 Setting Up: Corporate Structures and Tax Issues.
6 Making Acquisitions Work.
7 Human Resouces: Attracting and Retaining Talent.
8 Dealing with Corruption and Financial Crime.
9 Corporate Governance and Social Responsibility.
10 Future China.
Notes and References.
1 Facts and Figures.
2 CCP Politburo Standing Committee Members, 2010.
4 International Law Firms.
5 Recommended Reading.
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