Home>Top Issues

How Can China Build World-Class Multinational Corporations?

Thursday,Sep 07, 2017

From: NewsChina

 

August 30, the Beijing-based Center for China and Globalization invited Lady Barbara Judge, the first female chair of the UK’s Institute of Directors, to share her views about successful corporate governance among her nation’s top firms.

Lady Judge offered some practical tips on how Chinese companies can achieve success abroad.

Transparency and trust were the two factors crucial to the success of any international business, Lady Judge said. Chinese enterprises, as relative "latecomers" to global markets, needed to focus on two areas. The first was corporate governance. Good corporate governance enhances a company’s trust and transparency, both crucial for the success of a global push. The second was cultural sensitivity, something that must start at the very top of the company. Strategy and management must be integrated in any corporation seeking to do business worldwide. An advisory board with an international outlook and local experience is a great way to strengthen understanding and mutual trust.

Though Chinese firms are learning to adapt to local environments and work with local partners and stakeholders effectively, much more needs to be done, she said. Cross-border enterprises cannot overlook the significance of stakeholder mapping that goes beyond one-way engagement in countries outside of China. It must be a comprehensive system that analyzes all the stakeholders based on impact and influence. And Chinese businesses must persuade those outside China that doing business together will lead to mutual gain and added value.

Lady Judge said official and governmental support was necessary, but corporations needed  to take the initiative and seek partnerships with foreign multinationals to in order to achieve worldwide success.(By Zhang Qingchen)

From newschina,2017-8-31

 

  • 【CGTN Dialogue】Is China going to join TPP?

    After Trump pulled the US out of the Trans-Pacific Partnership (TPP), which took years of negotiations, many countries – such as Australia and New Zealand – are encouraging China to consider to join it in order to avoid its collapse, eventually replacing the US as head of the deal.

  • Cui Fan: Negotiations still best way to end disputes

    The latest US investigation into China’s intellectual property policies and practices under Section 301 of the Trade Act of 1974 is not the first of its kind. But the US has rarely used Section 301 against China after the latter’s accession to the World Trade Organization in 2001, because the WTO mechanism offers a fairer, more comprehensive solution to bilateral trade disputes.

  • Will foreign employees enjoy social security rights in China?

    The social security in China is far below the international levels. Many foreigners come to China and pay social security, but if they leave China, they can neither enjoy the benefits nor withdraw all their pension. In some cases, they can get the pension funds they have been contributing every month, but not the part covered by the government and employers.

  • Belt and Road & Globalization | CGTN

    The Dialogue Studio inviting Clare Pearson, Chair of British Chamber of Commerce in China, Xie Tao, Professor of Beijing Foreign Studies University, Paul Haenle, Director of Carnegie Tsinghua Center, and Dr. Wang Huiyao, President of Center for China and Globalization(CCG), to sharing their opinions and discussions.

  • Highly Skilled Immigrants Are Starting to Choose China Over US

    While American students can intern in China, Baidu’s permanent salaried positions in Beijing were mostly aimed at Chinese citizens in the United States. Much like the rest of the world, it’s easier for Chinese companies to hire Chinese citizens rather than trying to sponsor a foreigner’s employment.