中國商業(yè)報告摘要

1、Join ourJoin ourWeChat:INSIGHTThe Journal of the American Chamber of Commerce in Shanghai - Insight September/October 2019 INSIGHTGOOD HYPERLINK / GOOD HYPERLINK / MEHHOWS BUSINESS FEELING?HIGHLIGHTS THEBUSINESSBUSINESSREPORTFEATURES P.15Bringing the NFL to ChinaFEATURES P.15Bringing the NFL to Chin

2、aLewis Choi on digital innovationPOLICY P.26The state of U.S.-China relationsTO WININ CHINAETNERSTONEINTERNATIONAL G&OUPRetained Executive Search: A closer lookSecuring new talent is an investment: it is only expensive when you dont get it right!Attractingandnurturingtalentandplanning for succession

3、 are some of the most important and challenging tasks facing Boards and Leadership Teams today. We and no doubt you, have seen first hand the adverse impact a poor selection decision can have on an organizations bottom-line, culture, reputation not to mentionthedamagedonetoindividualcareersintheCOrn

4、erstone International Group celebratesprocess.30 years of executive search and talent managementexcellence. Foundedin1989SowetakeourroleastrustedadvisorstoWith 60 offices worldwide and in China since BoardsandExecutiveTeamsseriouslywhen1995. We provide a complete suite of talent decisionsofthismagni

5、tude arebeingmade.SOlutions,fromfindingfutureproofleadersto Muchispotentially atriskandsowedonotgrowing performance & promise on the rigor of our work or theforthrightnessofouradviceandguidanceto our clients andstakeholders.The Journal of the American Chamber of Commerce in Shanghai - September/Octo

6、ber 2019INSIGHTAMCHAM SHANGHAIINSIGHTPresidentKER GIBBSVP of Administration & FinanceHELEN RENDirectors CommitteesJESSICA WUCommunications & PublicationsIAN DRISCOLLCorporate and CommercialKAREN YUENGovernment Relations & CSRVEOMAYOURY TITI BACCAMTrade & Investment CenterLEONTUNGINSIGHTEditor MAGILL

7、Content ManagerJULIUSZ G. MOSONIDesignGABRIELE CORDIOLIPrintingSNAP PRINTING, INC.INSIGHTSPONSORSHIP(86-21) 6279-7119Story ideas, questions or comments on Insight: Please contactKate Magill HYPERLINK mailto:kate.magill kate.magillInsight is the bi-monthly publication of The American Chamber of Comme

8、rce in Shanghai. Editorial content and sponsors announcements are independent and do not necessarily reflect the views of thegovernors,officers,membersorstaffofNopartofthispublicationmaybe withoutwrittenconsentofcopyrightFEATURES05070507091215Respondents insights into the current and future business

9、 environmentThe future of mutinational corporations in ChinaHow international firms are faring in the domestic marketAn opportunists market for A-gradepropertyCompelling valuations attract commercial propertyinvestorsManaging in, managing outA guide to avoiding the perils and pitfalls of hiring and

10、firing senior staffBringing gridiron to the PRCInside the NFLs plans to grow a football fanbase18201820Launching a digital transformationThermo Fishers Lewis Choi on shifting minds towards the futureDigital dronesQ&A with Clobotics CEO George Yan23262326Staying smart about complianceHow to embed a c

11、ompliance mindset into your companyThe state of U.S.- China relationsWu Xinbo offers a domestic perspective283028303234Event reportRecap of selected events from the past two monthsMonth in picturesSelected photos from the past two months AmCham eventsBoard of governors briefingNotes from the August

12、board meetingWeekly Briefing Bits & BobsIrreverent takes on the newsFEATURESFEATURESSeptember / October 2019September / October 2019Shanghai Centre, Suite 568 1376 Nanjing West Road Shanghai, 200040 Chinatel:(86-21)6279-7119fax:(86-21)6279-7643 HYPERLINK / 3CHAIRMANS NOTEERIC ZHENGChairman of The Am

13、erican of Commerce in ShanghaiWith the escalating trade tensions between the U.S. and China, American companies in China are confronted with unprecedented challenges not seen since the first American company began operating in China four decades ago. A series of tariffs and retaliatory tariffs impos

14、ed by both countriessince 2018 are hurting American companies.Based on the latest survey of Am- Cham Shanghai member companies, over half have suffered from a de- crease in revenue as a result of the new tariffs. The survey was conducted before the latest round of new tariffs announced by the U.S. o

15、n $350 billion worth of Chinese imports and subse- quently by China on $75 billion worth of US imports. The serious impact on revenues was expected, since many. companies in China both import inputs from the U.S. and export prod- ucts to the U.S.Faced with increasing tariffs, Amer- ican companies ar

16、e forced to look for alternative supply chains outside Chi- na. Our latest survey shows that nearly 39% of our companies have redirected their planned investments in China to other countries; 57% of our compa- nies have either delayed, reduced or canceled their investments in China and their 5-year

17、outlook for China has worsened. The tit-for-tat escalation of the trade tensions is posing a serious threat to the operations of U. S. com- panies in China.According to our surveys year after year, most American companies view China as a strategic market for their growth and consider China as a top

18、in- vestment destination. To date, Ameri- can companies are doing well in China; over three-quarters are profitable.More and more American compa- nies are pursuing a strategy of “In Chi- na, for China,” i.e., making products in China for the China market. While those companies may not be directly im

19、pacted by the new tariffs, they are concerned that the worsening bilat- eral relations might affect consumer sentiment in China towards American brands. An overwhelming majority ofour companies do not believe that tar- iffs are an effective tool to resolve bi- lateral trade issues.We support the U.S

20、. administrations goals of rebalancing U.S.-China trade relations in order to address the trade deficit, market access concerns and other structural issues in China. How- ever, China is too strategic a market for American companies to withdraw from. Decoupling from China would not strengthen the U.S

21、. economy; on the contrary, it would weaken Amer- ican companies global competitive- ness and force them out of one of the most significant markets in the world.American operations in China supply businesses and consumers in the U.S. with affordable, high quality products. Their operations in China

22、also support jobs and tax revenues in the U.S. in R&D, marketing, distribution and oth- er headquarters functions. Our latest survey indicates that about 23% of our companies in China are a significant sources of profits for their U.S. head offices and nearly 17% contribute to their production and e

23、mployment in the U.S. Withdrawing American com- panies from China would hurt the U.S. economy; it would also be very chal- lenging to find alternative countries that can match Chinas capacity and scale in both supply and demand.Trade wars have no winners. The economic costs to date are already signi

24、ficant, and further tension esca- lations would do more harm to both countries. We urge the two govern- ments to work out their differences through negotiation, so as to achieve a win-win outcome. I w HYPERLINK http:/www.aammcchhaamm-sshhaanngghhaaii.oorrgg/ ww HYPERLINK http:/www.aammcchhaamm-sshha

25、anngghhaaii.oorrgg/ 20192019FEATURESNC H FEATURESNC H A M E R I C A T H EA M The annual China Business Climate Survey, taken this year between June 27 and July 25, is one of theTlongest running surveys of U.S. business in China. The 2019 report reflects the views and insights of 333 members and meas

26、ured trends in company perfor- mance, challenges and investment, and members views about trade policy, the impact of tariffs on revenues, as well as the competitive advantages of Chinese companies.S H A N I R C R C EI N C O M M E B E RO F Profitabilityin2018remainedconsistentpreviousyears,with76.8%o

27、fcompaniesre- porting profits. revenue growth estimatesfor2019areweak.Only50.5%of companies expect revenues to beat 2018numbers,whileofcompaniesticipate lower revenues, markedly upfrom the6.1%thatprojectedlowerrevenuesfor 2018.ofautomotivecompaniesantic- ipate lowerrevenues.optimism one fifth to61.4

28、%,againsthistoricalof80-90%, while pessimism about the 14.0points.Themostindustriesincludednon-consumerics and chemicals. the 3-5of our members an as their biggest challenge, with tensionsaclosesecondOperational challenges with inefficient 22.0 points) and corrup- tionandfraud20.4seeingthemostButthe

29、sestill as hindrances 56.5% and 48.6% f , . g (90.3% viewed as a hindrance) and domestic competition (80.9%) remained the top two challenges for the third year in a row.As for opportunities, 59.2% of respondents said increasing consumption will be the top factor to benefit their industry in the next

30、 3-5 years, a slight increase from last year (58.0%) and the year before (56.5%). Simi- larly, 40% of those increasing investment in China in 2019 report doing so due to the growth potential of the Chinesemarket. September / October 2019* Because of a seasonal shift in our data collection, compariso

31、ns for 2016 are not always applicable.September / October 2019 5Our investment in innovation andR&D in China is limited by inadequate IPR protectionHas your revenue decreased or increased as a result of the tariffs?400/38%2017400/38%201820195 0 05 0 0Top three redirected investment destinations Indi

32、a U.S.A.13d0o5.5%6.5%7.6%4.1%9.20o5.5%6.5%7.6%4.1%How would you characterize your industrys regulatory transparency?*23%35%42%G TransparentG Not transparent but doesnthinderbusinessG Not transparent and hinders business23%35%42%80%40%2014201520182019” Because of a seasonal still inour data col/ec/ow

33、. cont ar/so/Js for 2016 are not always app/cad/e. HYPERLINK / HYPERLINK / Speed to market Sales and marketingUse of digital strategies ProductSpeed to market Sales and marketingUse of digital strategies Product developmentProduct quality21.2%33.3%36.7%25.3%20.0%By Alexander HebnerJEAN-MARC F. BLANC

34、HARDPh.D., isexecutive director of the Mr. & Mrs. S.H. Wong Center for the Study of Multinational Corporations, an indepen- dent California (USA)-based think tank, and editor of the “Palgrave Stu- dies in Asia-Pa- cific Political Economy” series.(MNCs) inChina andwhatistheirtorylookingthedoes this t

35、o thatofJEAN-MARC F. BLANCHARDPh.D., isexecutive director of the Mr. & Mrs. S.H. Wong Center for the Study of Multinational Corporations, an indepen- dent California (USA)-based think tank, and editor of the “Palgrave Stu- dies in Asia-Pa- cific Political Economy” series.It depends on the time perio

36、d . I d y l r e I been tracking MNCs in China that they done They sales and their its been substantial other of the or Latin America or SE But the position of MNCs is notasgoodasinthepastaof One is that their competi- tion has Chinese in almost thatcanwiththemspectrum,whetheritsR&Dorsalesor branding

37、 or is still it is not the same kind of special position that it ago. I do not think MNCs substantial competition in many that said, Chinese firmsprivileged in that theyinthepast,whetheritsinfinancingor to a envi- and I think a challenging thattheplayingfield hasbeenorisbiasdomestica I What of do MN

38、Cs in assets that China cannot oth- erwise at this time without these Absolue. This is fluid and pends on the Chinese but for example if you look at atheyfitintothegovernmentsdesirebulk up higher value added activities, dealwithpollutionproblems,andkeep higherqualityFDIcomingin.Anlike that has a deg

39、ree of leverage. If you think about the software sector, thesituationisevolvingbecauseofcy- bersecurityconcernsandtheabilityChinese companies to provide computing and AI which makes eignsoftwarecompaniesnotascritical as in the past. Jobs used to be an im- portant thing that foreign MNCs could bringt

40、othetable,butIwouldsayinthepastfiveyearsthatisnotasim- portantofanissue.Mostlyitsaboutif a company can help China move up thevalue-addedchainorfulfillspecific needs.Ifyouareinhealthcareorelder- lycarethenIthinkyoumatterbecause of the increasing elderly population. They want to bring down the costand

41、 improve quality of service. But if you come in and say Im going to open another fast food company, thatsnot going to have any degree of leverage asitsnotfulfillinganypriorities.September / October 2019aSeptember / October 2019There is definitely variation. youre a governor or mayor you haveFEATURES

42、 7FEATUREScertain goals that are different from those of the national government. A billion-dollar investment mean much from a national perspec- tive, but if you were to go to Hunan province or Shanxi province that could be very impressive. They wont do anything the central government opposes,butthe

43、ywillincentivizethings such as tax benefits and So yes, on the provincial and leveltherearedifferencesinhowtreatcompanies.touchedonitalready,butwhat doestheincreasingcompetitionemployees that has taken place in the last five years or so say foreignMNCs.Havetheydoneany- thingwrongoristhisaproductofa

44、moreattractivejobmarketprovid- edbydomesticcompetitors?I would say they have not done anything wrong. In the post-finan- cial crisis period there has been an interest in stability. Chinese workers decided that maybe state-owned enterprises or Chinese private firms were a better place because theydid

45、nt have to worry about getting laid off or being at a struggling firm. If you think about some of the more advanced areas such as tech, I think theChineseworkeristhinking“Ihave a chance to move up the ranks that I ouldtheataoeigncompa.I have the chance to get the same bo- nus package, and the domest

46、ic firm worksinawaythatIamfamiliarwith.” Its a combination of the Chinese company being able to provide an environment that works for Chinese emplees, as ell as localorers concerns about the prospects of the foreignmultinational.What is the to MNCs in China?I would say the greatest threat is thatChi

47、nareturnstoveryhighgrowth rates and we see that it can devel- op its own technologies and brands on its own. China self sufficient would be the greatest threat to multinationals. In certain areas this has happened, but aly the suess sories ae Chins success stories, they arent success stories. In the

48、 U.S. I cantuse to pay for things, but I can use Apple Pay all around theworld.How do you see the Belt and Road Initiative affecting the landscape multinationals in China? Is it an op- portunity for foreign companies to integrate themselves into Chinese projects or do you see it as an op- portunityf

49、orChinatogrowtheirdo- mesticfirms?Definitely the latter. Its mainly about China helping China. How- ever, there are opportunities for foreign companies to be in the ser- vice of Chinese companies, such as providing legal services, politi- cal risk analysis or market analysis. Overall China does not

50、work exten- sively with foreign companies, but I think China is considering, partially for risk diversification and partially to counter some of the backlash against the Belt and Road, using more foreign suppliers. I dont really see that happening in a substantial way unless something dramatically c

51、hanges though. I Asian Tigers MobilityIs an international relocation specialist started in 1988 handling visa and immigration,orientation, home finding, international, domestic and loca movesand settling in services in China. We are FAIM & ISO 9001-2008 accredited, members of the OMNI and FIDI which

52、 gives us the global representation.Contact us:Asian Tigers MobilityIs an international relocation specialist started in 1988 handling visa and immigration,orientation, home finding, international, domestic and loca movesand settling in services in China. We are FAIM & ISO 9001-2008 accredited, memb

53、ers of the OMNI and FIDI which gives us the global representation.Contact us:Tel:(8610)6415 1188 HYPERLINK mailto:general.pek E-mail:general.pek W HYPERLINK / ebsite: HYPERLINK / FEATURESINVESTORS ONARARE INVESTMENT FEATURESBy JamesMacdonaldJames Macdonald was appointed as head of Savills Research,

54、China in 2007. Hehas the overall to the suc- cessful delivery and expansion ofSavillsch as well as to consolidate and integrate all activitiesmainland China.The research team covers a wide range of cities and assets classes.International buyers have been active in the Chinese investment market for a

55、 long time. Some of the first deals were concluded in the mid-2000s by investment houses such as ING (now CBRE Global Inves- tors), Morgan James Macdonald was appointed as head of Savills Research, China in 2007. Hehas the overall to the suc- cessful delivery and expansion ofSavillsch as well as to

56、consolidate and integrate all activitiesmainland China.The research team covers a wide range of cities and assets classes.Irently RMB60-70,000 per sq m).Back then Chins eonoy propertymarketdifferent.Therising rapidly, at more than 10% annum(2018:0.3%).ChinahadtheWTOjustfouryearsbefore;there was no t

57、rade war and no debt bub- ble,withadebt-to-GDPratioofjust 144%(2018:254%)and,therefore,financial de-riskingcampaign.Todays MarketThe current market faces challenges, but Shanghais size and prominence make it diffi- cult for investors to ignore the the world, with phenomenal over the last two decades

58、 that defied market watchers. The tion for many internationalisnotshouldIbuyinChina,butshould I buy that generates a sonablereturn,haslimitedand a degree of security that,hastransparencyandliquidity.For most investors, this will mean commercial asset classes in the countrys leading cities. The marke

59、ts are large, relatively transparent and liquid. Unfortunately, many of these markets are at or near cyclical highs, due to a slowing economyand constrained financing.economy was ing along at per annum 6.6%), the Shanghai office market just 3 million sq (2018: 13 sq m), with The question for many in

60、ternational investors is not should I buy in China, but what should I buy that generatesa reasonable return, has limited downside and a degree of security.Many corporate are looking to limit costs controlling headcount growth and fixed overheads, and are unlikely to upgrade premises unless there are