Doing Business in China

Booz Allen Hamilton’s latest Strategy+Business report is on doing business in China. (Read it here).

In brief, they lay out “China’s Five Surprises: A Guide to Doing Business in the World’s Fastest-Growing Economy” (by Edward Tse):
Foreign companies conducting business in China as the country briskly transforms itself into a market economy will succeed only if they can get inside the minds of their Chinese competitors (or partners). Five facets of business in China may surprise most outsiders:

1. Local entrepreneurs are interested in producing global brands, not just low-cost commodities
2. China has become a hotbed for rapid innovation
3. Executives from around the world are moving to China for the long haul
4. Good management and transparency are starting to count more than patronage, at least in some sectors
5. China is becoming a catalyst for growth in emerging markets throughout the developing world.

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