Xu Xin, president of Deer Jet, a subsidiary of the Hainan Airlines Group, told China Daily that he is very optimistic about the Chinese business aviation market due to the increasing number of rich people in China and their willingness to spend more on business jets.
First, eBay failed to recognize that the Chinese market and the business environment are very different from that of the West.
In order to adapt your business to the Chinese market, you will have to understand how Chinese think and what makes them tick.
First and foremost, what is required is the ability to manage Chinese officers and staff in a service business (not manufacturing) in the Chinese market in competition with Chinese institutions.
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This is especially the case in the white-hot Chinese market, where hoteliers and business travellers are busier than ever.
Overseas companies including Forbes Media also compete in the market for Chinese-language business magazines, though face restrictions.
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Warwick, the world's leading producer of a chemical additive in household detergents, employs 230 at its main manufacturing site and headquarters, and will use the Shanghai base to develop its business further in the growing Chinese market.
Sanctions would disrupt a major portion of the U.S.-Chinese shipping market controlled by Cosco, whose business lines include port terminals and warehousing, insurance, real estate and hotel management.
And China's internet start-ups, such as Tencent (a social-networking service) and Alibaba (an e-commerce company), have had a genius for copying Western business models and adapting them to the Chinese market.
"Chinese telecoms companies have been developing their international business based on market economy principles, " ministry spokesman Hong Lei said.
The Coca-Cola Company holds as much as half of the domestic Chinese market for carbonated beverages, but the juice business is highly fragmented.
This, coupled with the expansion of business partnerships including a recent foray into the Chinese chemical market, has HUN poised for growth moving forward.
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The stock market has also been a boon to many Chinese companies, which have jumped into the business of building everything from solar wafers to finished panels.
This chapter documents why some companies fail while others thrive in the Chinese market, and illustrates important lessons that multinationals cannot afford to ignore when seeking to do business in China.
Harvard Business School is among those seeking to tap that market with a new, simultaneously translated program for Chinese CEOs who do not speak English and whose companies are aiming to go international.
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