《经济学人》跨国公司在中国之一PPT

AnewenvironmentAsmallconsumermarket05001000150020002500050100150200Cars,‘000units,leftaxisLifeinsurance,US$m,rightaxis1998Source:EIU,SwissReAsignificantconsumermarket050010001500200025003000050100150200250Cars,‘000units,leftaxisLifeinsurance,US$m,rightaxis2003Source:EIU,SwissReAlargeindustrialmarket0100200300400500600700800GermanyUSJapanChinaFranceUKNetherlandsItalyCanadaExports,US$bn19932003Source:WTOAnaccessiblemarketMuchbetterhardinfrastructure•Sophisticatedtelecomsnetwork•Improvedtransportnetwork•BothinternalandexternalImprovedsoftinfrastructure•Improvedinternationalconnectivity•Domesticeconomicreform•WTOentryMNCsgodeeper0102030405060198619891992199519982001FDI,US$bnDifferentFDIIT-related•Morethan60%ofTaiwan’sITproductionismadeinChinaCapital-intensiveindustries•Petrochemicals,semiconductorServicesectors•Financialservices,retailMoreFDISource:EIUMNCsareimportanttoChina05010015020025030035040045050019961997199819992000200120022003ExportsfromChina,US$bnForeign-investedDomesticSource:EIUChinaisimportanttoMNCs05101520253035404550VWDanoneNokiaProcter&GambleNovartisHSBC%ofsales/market%ofglobalsalesinChina%ofChinamarketSource:EIU,Euromonitor,companyreports,estimates.MNCattitudestoChinaReportinglines•55%havedirectaccesstotheglobalboardChinais…..•…..“criticaltoglobalstrategy”-50%•…..“strategicallyimportant”-41%CEOvisitsinlastyear•80%saidglobalCEOhadvisitedatleastonceThequestionofprofitabilityMNCsaremakingmoneyinChina•Carcompanies•AmchammembersButtheyaremakingmoremoneyfromChina•Exportbase•GlobalsourcingcentreAddressingthemarketThecompetitionGuanxi+Operatingingreyareas+Officialandunofficialprotection+Accesstocheapbankcapital+Lackofcorporategovernance=PRICE!!MNCs-brandandmarketing050100150200250300350400P&GOilofOlayNaobaijinArcheGaiZhongGaiHuangjindadangPuxueChinaMobileAoqiliP&GRejoiceJiuxinDiaopaiP&GCrestLafangSanjingP&GPanteneSofttoP&GH&STaitaJiangzhongWahahaAdspend,US$mSource:NielsenMediaResearchGoinglocalFinancing•BorrowingfromdomesticbanksProduction•MovingtocheaperareasinlandSales•IncreasingvolumestoloweraveragecostsResearchanddevelopment•LowercostsandlocaltastesMergersandacquisitionsBuyingoutjointventurepartnersTraditionalM&A•Basicmarketaccessandexpansion•Stealingamarchonforeigncompetition•Eliminatinglocalcompetition•AcquiringnewabilitiesNotmainstreamyet•Regulations,•Corporategovernance•PricePersistentheadachesChina’sbusinessenvironment012345678910CanadaUSAHongKongTaiwanSouthKoreaJapanHungaryMalaysiaThailandMexicoBrazilChinaIndiaRussiaVietnamNigeriaBusinessenvironmentscoreSource:EIUInfrastructureanddistributionOver-burdenedphysicalinfrastructure•Transportcongestion•ElectricityshortagesLackofsophistication•Poorintegrationofdifferenttransportmodes•RegulationsondistributionThewayforward•Theeastcoastisbetter•Workaroundregulations•PiggybackonchainstoresRegulationandcorruptionRegulation•Centralgovernmentrestrictions•Localgovernmentprotectionism•RedtapeCorruption•SeriousproblemforforeignbusinessesThewayforward•WTOopening•LobbyingSkillsshortages0102030405060708090ChinaIndiaThailandKoreaUKJapanTertiarygrossenrollmentratio,%19802000Source:WorldBankSeriouswageinflation-202468102001200220032004%change,yoyWages,professionalstaffConsumerpricesSource:EIU,HewittAssociatesIntellectualpropertytheftImprovinglawsandregulationsInadequateenforcementAnunavoidablecostSurvivalstrategy:self-preservationCorruptioncausesmostconcern051015202530354045CorruptionIPRCapitalflowsSkilledstaffProtectionismElectricitySupportservicesRenminbiEconomicpolicyInfrastructureLanguageskillsPoliticalstability%claimingdetrimentalNowFiveyearsvSource:EIUConclusionsChinaiscomingofageforMNCsMNCscanbuildrealbusinessinChinaOperatingissuesarenolongerdecisiveThebiggestchallengesarestrategicThereisarealneedtothinkaboutChina