The Economist: Doing Business in China - Tapa dura

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Christopher Torrens is a China specialist with Control Risks (a global consultancy) and was its Director of Corporate Investigations for China, He has worked in China for 16 years and speaks Mandarin. He holds an MBA from the China-Europe International Business School and a BA Honours degree in Modern Chinese Studies.

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China is largely insulated from the worst effects of the global downturn, thanks to several factors: its banks have limited links with the international financial system; its institutional and regulatory apparatus is increasingly robust; mainland consumers enjoy low levels of debt and one of the world's highest national savings rates; and private consumption is rising steadily among the country's fast-growing middle class. China's exporters may be doing less well now but the domestic market offers huge opportunities, and the country's economy is expected to maintain high single-digit growth over the coming years.

Many firms have come unstuck in China, often thinking mistakenly that it would be an easy market to crack and that they could rely on their strategies for developed markets to operate in mainland China.

This book examines the context in which businesses have to operate in China, the strategies that have succeeded and those that have failed, and it assesses the importance of a range of different factors in making sure any business venture in China is successful.

The book contains ten chapters and a number of appendices:

• Making it work in China
• The political and economic context
• Assessing the market
• Investment risk: dealing with regulations and operational challenges
• Setting up: corporate structures and tax issues
• Making acquisitions work
• Human resources: attracting and retaining talent
• Dealing with corruption and financial crime
• Corporate governance and social responsibility
• Future China