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(单词翻译:双击或拖选)
At a recent funding conference in Beijing, celebrated1 Singapore based investor2 Jim Rogers spoke3 about the wealth of opportunities in China for companies and investors4 alike.
"I am investing in pollution control.. Look out of the window. You will see that China's filthy5. But Beijing is doing a lot about this and spending a lot of money to clean it up. One Belt One Road is spending a lot of money on railroads. There are many ways you can invest in China, agriculture and healthcare. So at the moment, for the most part, I'm investing in parts of China, the Chinese economy, where Beijing is spending their money. They have more money than I do. They are smarter than I am."
Success in China means gaining access to a market of 1.3 billion people, a prize almost irresistible7 to businesses from across the world. But as the taxi hailing company Uber found out, simply having a market dominance elsewhere, or a good business idea, isn't always enough to create success in China.
Foreign companies cite several reasons for frustration8 or failure… among them finding workers with the right skills, perceived preferential treatment for local companies, and raising awareness9 among the public. So many opt10 to work with businesses already operating in China. But Cao Can from Shengya Capital, warns even having a local partner is no guarantee of success.
"Didi has the backing of local tech giants such as Tencent and Alibaba. But they also have the support of local governments, and the local press. So it's very hard for Uber to compete without some support. Many of these foreign tech giants are sometimes a bit naive11 when they first enter China. They thought it was going to be a cake walk, because they are dominating other markets."
Tom Simpson, from the China Britain Business Council works with companies hoping to become successful in China. He says it all comes down to research.
"Every market is different. It's not just China that has its complexities12. If you look at the markets, markets like Korea, Japan, there are complexities that come with entering those markets also and so companies in general see it very much as par6 for the course. You've got to go through that process of research and understanding local regulations and understanding local culture, customs, the role of government – role of the state owned sector13. In general, companies are willing to play ball."
So is there a recipe for success? How should foreign companies approach access to the Chinese market? Cao Can from Shengya Capital again
"I think Uber has already done an incredibly good job in the sense that Uber China is a localised team, with localised executives, and local decision making capacity but still when it comes to for instance PR Relationships with local government and the press it probably lags behind Didi and that's how it was able to do the catch up and eventually cross past Uber."
Things are changing. Continued reform and opening up is creating a more foreign-friendly terrain14 for overseas companies. But it's clear, unless they fully15 understand China and its people, many firms will fail.
For CRI, this is Bob Jones.
1 celebrated | |
adj.有名的,声誉卓著的 | |
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2 investor | |
n.投资者,投资人 | |
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3 spoke | |
n.(车轮的)辐条;轮辐;破坏某人的计划;阻挠某人的行动 v.讲,谈(speak的过去式);说;演说;从某种观点来说 | |
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4 investors | |
n.投资者,出资者( investor的名词复数 ) | |
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5 filthy | |
adj.卑劣的;恶劣的,肮脏的 | |
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6 par | |
n.标准,票面价值,平均数量;adj.票面的,平常的,标准的 | |
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7 irresistible | |
adj.非常诱人的,无法拒绝的,无法抗拒的 | |
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8 frustration | |
n.挫折,失败,失效,落空 | |
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9 awareness | |
n.意识,觉悟,懂事,明智 | |
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10 opt | |
vi.选择,决定做某事 | |
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11 naive | |
adj.幼稚的,轻信的;天真的 | |
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12 complexities | |
复杂性(complexity的名词复数); 复杂的事物 | |
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13 sector | |
n.部门,部分;防御地段,防区;扇形 | |
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14 terrain | |
n.地面,地形,地图 | |
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15 fully | |
adv.完全地,全部地,彻底地;充分地 | |
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