On July 16th, along with Teng Bingsheng—CKGSB Associate Dean and Associate Professor of Strategic Management—two CKGSB alumni Mr. Chik Wai Chiew, Partner at Tembusu Partners, an award-winning private equity firm focusing on emerging markets and China and Mr. Mao Jihong, President of Mixmind Art & Design, one of the most successful fashion brands in China, shed light on struggles for MNCs and where the opportunities lie in China at the first CKGSB Workshop in Singapore.
To what extent is the rebalancing of China’s economy actually happening? And what does it mean for longer-term prospects? These, and other, questions were discussed at the recent FutureChina Global Forum in Singapore, at which there was a significant presence from CKGSB.
China Daily’s Yang Ziman and Du Xiaoying recently profiled the MBA Program’s China Module at CKGSB in a glowing two-page article that explains why this ground-breaking new course is perfect for foreign managers looking to enter the Chinese market.
It’s one of the most coveted places on the planet – few get to go inside, fewer still get to make a speech there – but Oliver Shiell, CKGSB’s Chief Representative in Europe, recently had the opportunity of a lifetime after being invited to the prestigious Cholmondeley Room at The House of Lords in London to discuss the UK-China relationship through the eyes of both Chinese and British senior executives.
Anson Wong, Assistant Director of the China Economy and Sustainable Development Centre at CKGSB, was featured in ASrIA discussing the first revisions to China’s Environmental Protection Law for 25 years, as well as its implications and implementation.
China and India have two of the most exciting economies in the world, but their unique situations require carefully planning by companies seeking to operate there.
After a long period of economic development and expansion, the world is at a turning point in its history. But some of the world’s most prominent academics, business leaders and political representatives met recently in the south of France to define the outlines of a new future – one in which the world will want to invest.
CKGSB Professor Zhou Chunsheng said, “The rapid growth of China during its period of economic reform had been based on capital investment from overseas Chinese”. He added, “Overseas Chinese have no language barrier while doing business in China and are also able to access various investment tips and ‘guanxi’ via their relatives across the mainland.” Professor Zhou added, “A significant portion of all overseas Chinese capital investment was made by individuals and this is because overseas Chinese are buying up a lot of real estate, including houses, buildings and land”.
Along with President Xi Jinping’s recent visit to Korea, the hype surrounding Korean companies entering the Chinese market continues to grow. CKGSB Associate Dean and a world-renowned scholar on Strategic Alliance, Professor Teng Bingsheng, said that the Chinese market has experienced significant changes over the years. He pointed out that MNCs will face difficulties in winning the competition with local Chinese companies. Professor Teng said, “MNCs should not be satisfied with their standards. Because China is no longer a cheap consumption market, global companies should apply high standards in China and target customers with high-end products, not low-end ones. They also need to change their strategies to adapt to the new business environment in China. For example, they need to target the fast-rising, middle-class consumers and transform themselves from labor-intensive to technology-intensive companies”.
CKGSB Professor of Marketing Juliet Zhu has been named to the World Economic Forum’s Network of Global Agenda Councils as a Member for 2014-2016. This highly prestigious appointment recognizes Prof Zhu as among the most relevant and knowledgeable thought leaders in her field, and her expertise will be instrumental in helping the China Council collaboratively develop pertinent insights and solutions to address global challenges.
Consider the case of the adult student attending night school to earn a degree that will result in a better job with higher pay. From sacrificing time with friends and family to missing a relaxing evening watching TV, this type of long-term gain often comes with short-term pain. But a new study in the Journal of Consumer Research – co-authored by CKGSB Professor of Marketing Juliet Zhu – has found that people are more likely to achieve their goals and avoid temptations when they are able to remove themselves from the big picture.
China is no longer resting on its ‘Made in China’ laurels. These days, China’s main economic driver is the ICT industry, including smartphone manufacturers and gaming firms, as well as the e-commerce and internet search market sectors. CKGSB Professor Li Wei said, “To highlight Chinese ICT companies’ common reasons for success, their customer-oriented businesses have correctly anticipated what a good portion of Chinese customers want and have strived to serve them. A significant percentage of Chinese customers are well-educated, but their income is not as high as their western counterparts. They want smartphones that have high-end specs, incorporate the latest designs and best implement software elements. Some of them have the technical skills to redesign or tinker with a phone's hardware and software. This has given rise to Xiaomi, whose business model is fundamentally different from global brands such as Samsung and Apple.”
