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February Week 9, 2008
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Dear Zinester,
Here is this
week’s edition, covering:
- Skills Competition in China Finance
- China M&A activity unlikely to slow down, economy appears immune from
U.S. recession
- Microsoft and Wal-Mart in China
- What the Chinese Want You to Know about Networking
We hope you will enjoy reading this
edition.
Have a nice weekend!
All of us at China Success Stories
PS If you have an answer to one (or both) of the questions from
the Q&A section in this newsletter, please help out!
China Expert Guest
Blog
Skills Competition in China
Finance
 According to the Financial Times, we all chose the wrong career when we
decided to be makers, doers and helpers. The big money is in moving money
around, and the best salary deals in China are being given to deal makers
right now.
Local Chinese and international financial services companies have benefited
from the recent opening of the market. The foreign companies have arrived
at a good time, with huge volumes of cash sloshing around in unrewarding
bank accounts, or lying under mattresses. It’s the perfect meeting of
supply and demand.
Competition for the skills needed to manage huge volumes of investment has
resulted in fast rising salaries, and many companies have been forced to
reach outside the financial services industries to get the skills. This is
hardly surprising when assets under management have grown from $40 billion
to almost $450 billion in the last two years. US and European money
managers have noted the opportunity and if they are not here already, they
are currently on a plane here.
Read the rest or post a comment >>
China Expert Guest
Blog
China M&A activity unlikely to slow down, economy appears
immune from U.S. recession
 Chris Devonshire-Ellis, Senior Partner of Dezan Shira & Associates,
speaking at the Asia Business Forum Annual China M&A Conference in
Singapore today said that he felt the Chinese economy would withstand any
U.S. recession and that M&A (mergers and acquisitions) activity would
continue in the PRC.
His comments, made to a group of prominent academics and lawyers, including
the corporate finance heads of Deloitte Touche and KPMG, stated that while
U.S. imports had declined by over 10 percent in the past four months
signaling a downtown in the U.S. economy, Chinese exports had risen by over
21 percent for the same period, proving, he said, that China had
sustainable export markets elsewhere that would keep it immune from any
U.S. recession. He also noted that Chinese retail sales increased 16
percent over 2007 during the recent Chinese New Year, and that FDI had
increased by 109 percent in January to US$11 billion over the previous
year. Recent attempts to cool the China’s massive growth slowly
appear to ...
Read the rest or post a comment >>
Questions and Answers
Why would a US-based company want to create an
Individual Investment Advisory Firm in China
(pros/cons)?
I would like an answer to this question since I’m working on a
research paper entitled: Building a system/process to manage wealth in
China. Regards, Tom Newell.
Answer this question >>
China Expert Guest Blog
Microsoft and Wal-Mart
in China
 It took Bill Gates twelve years and billions of missed revenue, profit
and market share opportunities to learn how to do business in China
… the Chinese Way.
Microsoft came to China in 1992. Eleven years later, with global revenues
of $35 billion US, in China the second largest PC market in the world,
Microsoft-China revenue was $300 million, and it was operating at a
loss.
Source: Newsweek, Asia edition. June 21/04
Several quotes from the article:
• “….. struggling to turn a profit, the brash American
software giant is no longer trying to change China. Instead, China is
changing the company.”
• “Microsoft started to heed the critics and to embrace China
more fully. It is now broadly co-operating, even flying Chinese engineers
to Redmond for training.”
Read the rest or post a comment
>>
Facts & Figures
Import from China
Top 10
Imported Products* from China to the US, based on Total Value HS 4-Digit
Level - in thousands USD
| Rank |
Description |
Jan-Sep 07 |
% of Total
Imports
(Sep '07)
|
| 1 |
Computers |
20,758,055 |
8.9%
|
| 2 |
Telephone Cable |
14,373,331 |
6.1% |
| 3 |
TV Receivers |
9,396,044 |
4.0% |
| 4 |
Office Machine Parts |
7,482,983 |
3.2%
|
| 5 |
Table Games |
6,286,537 |
2.7%
|
| 6 |
Furniture |
6,243,803 |
2.7% |
| 7 |
Toys |
6,200,186 |
2.6% |
| 8 |
Footwear, Outer Sole & Upper
Lea |
6,038,516 |
2.6%
|
| 9 |
Print Machines Including
Ink-Jets |
5,954,471 |
2.5% |
| 10 |
Seats & Parts |
4,621,954 |
2.0% |
(Source of Data: U.S.
Department of Commerce, Bureau of Census, source
* "Products" refer to all
merchandise classified within a given 4-Digit Harmonized System
Code.)
China Expert Guest Blog
What the Chinese Want You to
Know about Networking
 For most foreigners, networking with Chinese can be a little
tough. Well, thanks to a question we posted on LinkedIn Answers,
we’re hoping to make things a little clearer. In brief:
They’re not that different
People often get so caught up in the differences that they fail to see the
similarities between Chinese and western cultures. Just be yourself and
don’t worry about skipping across the cultural minefield. Just as
most of us would go easy on any local who made a social faux pas without
knowing, local Chinese aren’t going to bite your head off if you
accidentally put your foot in it.
They are that different — from one another
Following on from the above, don’t fall into the trap of
thinking that all Chinese are much the same. They have their own thoughts,
hopes and dreams. Some are more introvert, some more extrovert and ...
Read the rest or post a comment >>
Questions and Answers
What is the best way for me to get local Chinese Oracle Consultants
for a project in Hong Kong?
My name is Tony Sherwood, Managing Partner of CyberSearch,
Ltd in Chicago, IL USA. Our Direct Client, Oracle Corporation, is
looking for a team of 10-20 Oracle Functional Consultants to implement a
project for a Global Rollout.
Answer this question >>
Comments
Brian Su in reply to Luxury Brands in China
Not every wealthy Chinese is interested in luxury merchandises. Many of
them are very low key and do not want any attention. I recently received
two wealthy clients from China, I went with …
Brian Su in reply to Breaking the Impasse: Promoting Worker Involvement in the Collective
Bargaining and Contracts Process
First of all, empowering workers is the least thing that the government
wants to achieve. Unionizing in Walmart stores and other JVs is another way
for the Chinese communist …
Jeremy in reply to Common staffing mistakes in China, and how to avoid them
@ Andrew: I will have to correct you on one thing here. Chris is not a
lawyer. He publishes on law issues but is not registered as a sollicitor in
Scotland or the UK.
Andrew in reply to Breaking the Impasse: Promoting Worker Involvement in the Collective
Bargaining and Contracts Process
As you probably know, your organization’s website is blocked from the
mainland. I would be interested in reading the report though, would you
consider hosting ...
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