Losing the confidence of Chinese consumers is easier than gaining is, tells business expert Shaun Rein in CNBC, analyzing the most recent products scandal: the fake furniture scam. What can foreign companies learn?
Category Archives: business
US-style doughnut shops are proliferating in China’s large cities, and that is bad news for their already deteriorating diet, tells retail analyst Paul French in the Washington Post, when they take of. French studied the obesity levels in the country in his book “Fat China”.
Nestle’s anticipated mega deal brings back the US$ 2.4 bn deal by Coke, rejected in 2009 by the Ministry of Commerce for fears the new company would dominate the market. While Nestle’s deal is huge, it has not Coke’s problems, tells Shaun Rein in Fortune.
Google might still be hoping to get another foot into the China market, but internet entrepreneur Marc van der Chijs reports now on his weblog that a local company is successfully filling the void for Google Streetview, already covering 41 cities.
Celebrity author Helen Wang of The Chinese Dream: The Rise of the World’s Largest Middle Class and What It Means to You addressed last month the American Chamber of Commerce in Shanghai and focused on the opportunities for US companies in China. “Opportunities abound in luxury goods, healthcare, education and clean technology.”
China’s regulators have been scrapping preferential treatment of local firm to win procurement contracts from the government, originally meant to strengthen indigenous innovation. “It is a sign the government is listening to the needs of foreign companies,” says Shaun Rein in the China Daily.
Chinese and Western business practices differ, quite a lot. Bill Dodson recalls on his weblog a due diligence trip into Zhejiang province, visiting a company that offered to their Western visitors two accounting books. The Western visitors were shocked. A different modus operandi.
The Shenzhen-based business man, artist and charity activist Mark Obama Ndesandjo has kindly agreed to join China Speakers Bureau. In a few years time, he has has helped to put social corporate responsibility on the local agenda and is helping companies to enter the challenging China market.
The lack of an independent legal system is holding back China’s innovative power; protecting the rights of entrepreneurs and innovators is key, business analyst Paul French tells in NPR. And then there is social welfare, health care pensions and a few other things.