J.P. Morgan’s recent decision to hire Elaine La Roche as its China vice-chairman may have not been a difficult one, given her qualifications as a former chief executive of China International Capital Corporation.
Leading the large, successful, foreign-owned investment banking business left no shadow of a doubt on her capabilities, with many public decisions and achievements made through her run.
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While domestic companies have a wide range of alternatives in establishing business operations in China, foreign companies are more restricted, with the most common business vehicles for foreign investors being:
- Representative Offices
- Wholly Foreign Owned Enterprises
- Joint Ventures (Cooperative and Contractual)
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Similar to Haier Group, China’s automotive industry has an array of suppliers which require sophisticated systems to manage them. China’s auto market, an ongoing hot topic is becoming more competitive and manufacturers have to look at the entire supply chain to cut costs.
BeijingBenzDaimlerChrysler (BBDC) is a more recent joint auto venture which built a new manufacturing …
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When a company sets up operations in China they appear to be faced with two distinct choices: ‘going local’, or imposing the dominant business culture of their organization.
It’s not an easy choice, and there are no clear cut answers as to which route will bring you the best results. In the absence of a definite conclusion it can become a battle of wills to see which culture will win.
In this issue I am venturing beyond European borders to China, a fast growing marketplace. But starting operations in a new market is not easy.Will you move your own people to the new location or will you start hiring locally? And if you hire locally, how do you attract the best candidates and what do these new recruits expect?
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