12-11-2012
Distinguished Alumni Share Insights and Experience in Running Business in China
Event Information
China is one of the fastest-growing economies in the world. Most people who are planning to start their career in China may want to find the key to success. This Forum brought together three distinguished alumni with rich experience in developing and growing business in China. In the Forum, they analysed the market potential and shared their insights in making their marks in the complex business environment in China.
Alumna Pauline Ngai Chiu-fung (History), Managing Director of Cimaco (Far East) Limited, pointed out that learning and understanding both the Mainland’s current situation and history well could help minimise cultural differences and facilitate communications. In addition, proficiency in Putonghua and English was very important in China.
Against the backdrop of globalisation with foreign investments flooded into China and China businesses eager to go oversea, there were plenty of career opportunities. Pauline believed that “dedication to work, positive thinking and well-disciplined” were just a few of the attributes that employers in China will search for from their potential employees.
Before closing her speech, she advised that Hong Kong people should always stay competitive and work hard in order to stay ahead of your competitors.
Alumnus Thomas Hung Ka-hang (Applied Biology), President of Easy Groups Limited, started the sharing with an introduction of his own career development. He shared that setting up his own business right from the start has always been his plan. He commented that Hong Kong’s sound economic environment provided a relatively promising future for Hong Kong people to develop business in China. However, he noted that one should know well the rules which were unique to your business nature in the Mainland before starting up.
One important piece of advice from Thomas is that we should be very dedicated and hands-on in the process of developing business in the Mainland. Secondly, we should be mindful of the uniqueness and sensitivity of the industry that we want to engage in. Lastly, we should prepare well before starting the business and, seek advice from the professionals when needs arise.
Thomas concluded that China will continue to be a promising market in the decades to come. However, for those who would like to explore China, it will always be advantageous to have, among others, an in-depth knowledge of the legal aspects of China.
Alumnus James S. Tsien (Business Management), Group Executive Director of Hutchison Port Holdings Limited, started his sharing with an in-depth analysis of China and other countries, using a number of economic indicators such as unemployment rate and GDP growth rate.
He shared that, China has achieved tremendous growth and enjoyed low unemployment rate over the last 20 years.
James then highlighted some important trends such as the inflow of Taiwanese workforce, the opening up of the China market for overseas capital, as well as the high productivity of Mainland people, that would ultimately affect the competitiveness of Hong Kong people who seek to explore the China market.
Lastly, James noted that “relationship building” (GuanXi) was not unique to China. Establishing a good relationship with business partners is a basic and essential element for doing business everywhere. The most important key to success is to learn and understand the mechanism of China trade.
