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

 

  • China Focus: China attracts more students from B&R countries

    According to a report published by the Center for China and Globalization (CCG), a major Chinese think tank, China had about 443,000 foreign students in 2016, and 207,746 of them were from the B&R countries.

  • The world is watching

    China’s big annual two sessions political meeting could be one of the most important in recent years, given the uncertain international backdrop, according to experts. Some 5,000 participants from the National People’s Congress, China’s top legislature, and the National Committee of the Chinese People’s Political Consultative Conference (CPPCC), the country’s top political advisory body, will descend on Beijing for the event.

  • Interview with a central committee member of Jiusan Society | CGTN

    During the 19th National Congress of Communist Party of China, CGTN interviewed Dr. Wang Huiyao, a central committee member of the Jiusan Society on China’s democratic consultation.

  • 【China Daily】Andrew Moody: Keeping order

    US President Donald Trump’s latest move to impose tariffs on a further $200 billion of Chinese imports is seen by many as a major challenge to the rules-based system of global trade.

  • Research institutes release G20 cyber trend report

    With this year’s G20 summit less than a week away, a group of research institutes from the Asia Pacific region have gathered in Beijing to discuss Internet trends in the world’s largest economies. Delegates also held talks on cyber space cooperation projects and ways to safeguard information online.