Doing Business in China: A Guide to the Risks and the Rewards - Hardcover

Torrens, Christopher

Hardcover

ISBN 10: 1846682819 ISBN 13: 9781846682810

Publisher: Wiley, 2010

Synopsis

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

About this title

About the Author

Chris Torrens is a China specialist with independent risk consultancy Control Risks and was its Director of Corporate Investigations for China, based in Shanghai. He lived in China for 15 years before returning to London in 2009. He holds an MBA from the China-Europe International Business School and a BA Honours degree in Modern Chinese Studies from Leeds University in the UK.

From the Inside Flap

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:

• Making it work in China
• The political and economic context
• Assessing the market
• Investment risk: dealing with regulations and operational challenges
• Setting up: corporate structures and tax issues
• Making acquisitions work
• Human resources: attracting and retaining talent
• Dealing with corruption and financial crime
• Corporate governance and social responsibility
• Future China

Edition details

• Publisher: Wiley
• Publication date: 2010
• Language: English
• ISBN 10: 1846682819
• ISBN 13: 9781846682810
• Binding: Hardcover
• Edition number: 1
• Number of pages: 256