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 than they have but the domestic market offers huge opportunities, and the country's economy is expected to maintain high single-digit growth over the coming years.
China has a long history of confounding multinational companies. Many firms have relied on their strategies for developed markets to operate in mainland China: for most, this has failed and companies have been forced to revise plans to take into account the idiosyncrasies of the Chinese market. This book examines the strategies that have succeeded and those that have failed, and assesses the importance of in ensuring business success. It contains chapters on the political and economic context, how to assess the market and managing corporate expectations, corporate structures and negotiating legal and tax issues, manufacturing and distribution, making acquisitions work, dealing with corruption and financial crime, attracting and retaining talent, the importance of establishing and maintaining relationships (guanxi), corporate governance and social responsibility, China in the future.
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