22 Nothing to Fear, A Lot to Gain T - ceibs. · PDF fileand leverage the opportunities...
Transcript of 22 Nothing to Fear, A Lot to Gain T - ceibs. · PDF fileand leverage the opportunities...
Nothing to Fear, A Lot to Gain
There is a certain level of fear when one company is
taken over by the other. If the company doing the
buying comes from an entirely different country,
one that’s far away and not infrequently regarded as a place
of many mysteries, the possibility for misunderstanding
skyrockets. In May, CEIBS hosted four events across
Europe with the goal of helping players from both sides
of the vibrant Sino-European relationship understand
each other, each other’s markets, and also to explore the
opportunities for win-win collaboration.
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“I predicted years ago that Chinese
companies are going to go global in
this decade. The time for China is
now,” said CEIBS European President
P r o f e s s o r Pe d r o Nu e n o . “A s a
business school that is at the service
of companies around the world, we
should address the issue, and it’s the
right moment to address it in a very
thorough way.”
The events in Munich, Zurich, London
& Paris brought together an impressive
list of influential participants who
discussed location-specific topics as
well as the wider issue of how both
sides (of a specific deal or in terms of
Sino-European collaboration) can win
by working together.
“As a school founded by the EU and
the Chinese government 22 years ago,
it’s our mission to make both sides
understand the opportunities and
the potential of economic exchanges
between the two continents,” said
CEIBS Dean Ding Yuan. “Our events
in Europe are about creating dialogue
be tween European and Chinese
companies.”
The events were packed with real
life examples of Chinese companies
that had successfully done overseas
acquisitions, European firms who were
doing business in China as well as
valuable insights from industry experts
and CEIBS faculty about how to spot
and leverage the opportunities available.
Read on for more in:
Munich
Tangible benefits to Sino-German
Ties
Industry 4.0 & the China Market
Zurich
Swiss Companies Doing Business in
China
Fix Your Balance Sheet, Says Xu
Xiaonian
London
Open for Business
~ People’s Bank of China Woos
London
Internationalisation of ICBC
Ch i n e s e B a n k s Re a dy for R M B
Internationalisation?
Paris
Win-w in for Chinese & French
Enterprises
The series of events, which ran from
May 18 to 25, would not have been
possible without the strong support
of a long list of partners who are
thanked on page 47).
Scan to watch event video or watch
on YouTube at https://youtu.be/
lxtkplAlnI4
These events, according to CEIBS
President Professor Li Mingjun, fit
in well with CEIBS’ overall strategic
goal of supporting alumni companies
going global, as well as the school’s
own internationalisation efforts. “In
today’s world one has to look at a
country’s economy within a global
context, so I believe our forums can
be helpful to our European friends
who wish to know China better,” he
said. “China and Europe share similar
economic challenges, but there are
opportunities for both, too. We are
hoping we can help business leaders
from both countries get to know
China better.”
The past year has been rocky for
the increasingly integrated world
economy. China’s growth slowed
b u t i t s c o m p a n i e s c o n t i n u e d
their breakneck speed of overseas
acquisitions such as Suning’s €270
million purchase of 70% of Italian
football club Inter Milan, Midea’s
€1.4 billion bid for 30% of German
robot maker Kuka, to name a few. As
China’s leading international business
school, CEIBS is uniquely positioned
to help both sides – the acquirer and
the company being acquired – pull off
deals like these. The school has already
racked up a wealth of experience
helping alumni companies go global
and also has a successful acquisition
under its belt with the October 2015
purchase of the Lorange Institute of
Business in Zurich.
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Munich
“Over 8,200 German companies have made inroads into the Chinese market”
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Tangible benefitsto Sino-German Ties
Chinese Ambassador to Germany Mr Shi Mingde
“In autumn, German Chancellor Angela
Merkel will visit China for the tenth time
to attend the G20 Summit. Maintaining
high-level exchanges, particularly the face-to-face
talks between Chinese and German leaders, will give
a significant push to China-Germany cooperation.
Practical, mutually beneficial economic and trade
cooperation will unleash the greatest potential
in boosting China-Germany relations. China
and Germany are the largest trading partners to
each other in their respective regions. Last year,
their bilateral trade amounted to US$160 billion,
accounting for nearly one-third of that between
China and the EU and equivalent to the total of
the China-UK, China-France and China-Italy
trade volume. Over 8,200 German companies
have made inroads into the Chinese market while
more than 2,000 Chinese counterparts have
gained a solid foothold in Germany, indicating the
transition from a one-way to a two-way bilateral
investment relationship between the two nations.
By the end of 2015, China’s cumulative non-
financial investments in Germany had hit US$6.6
billion. The two countries have also made great
strides in international financial cooperation.
On one hand, as a member state of the Asian
Infrastructure Investment Bank (AIIB) initiated
by China, Germany is now the largest contributor
to AIIB outside Asia; on the other hand, China
has joined the European Bank for Reconstruction
and Development. Moreover, the renminbi
clearing and settlement mechanism in Frankfurt
is running well, and Germany will also issue
renminbi-denominated bonds. Presently, China
and Germany are hammering out the China-EU
Investment Agreement, a top-level one that will
not only lay a solid foundation for expansion
of their bilateral investment, but also provide
Chinese and German companies with convenient
access to each other’s market.
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The cultural and people-to-people
exchange between China and Germany
has also made much headway. During
his state visit to China in March,
German President Joachim Gauck,
together with Chinese President
Xi Jinping, attended the opening
ceremony for the China-Germany
Year of Student and Youth Exchanges.
Germany will also serve as the Guest
of Honour Nation of the West China
International Fair 2016. Nowadays,
more than 32,000 Chinese students
and over 8,200 German counterparts
are studying in Germany and China
respectively. Every week, 99 flights
are launched between China and
Germany. There are 81 pairs of sister
provinces/states and over 500 pairs
of sister colleges between China and
Germany. Every year, around 1.10
million people travel back and forth
between China and Germany. To
celebrate the 45th anniversary of the
establishment of diplomatic relations
in 2017, China and Germany are
planning for a German contemporary
art exhibition in China and a series of
cultural events in Germany.
As the Chinese economy has moved
in to the new nor mal , making a
structural adjustment, cutting excess
capacity, and addressing weaknesses
will add a fresh impetus to the Chinese
economy. As a 10- t r i l l ion-RMB
economy, China will maintain an
annual growth rate of over 6.5% in the
next five years, during which China
will import commodities worth over
US$10 trillion, invest over US$600
billion abroad, and send about 500
million tourists overseas. In addition,
since China and Germany are located
at the opposite end of the Silk Road
Economic Belt, it is critical for the two
countries to join hands carrying out
the “One Belt, One Road” initiative,
which will open up broad vistas for
their cooperation and bring them
generous return and tangible benefits.”
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Industry 4.0 & the China MarketThis is an edited excerpt from a Keynote Speech prepared for the CEIBS
2nd Europe Forum 2016 Munich
B y B e r n d K o e r b e r , V i c e P r e s i d e n t o f B u s i n e s s Development, BMW China
“The term “Industry 4.0” is linked to the fourth industrial
revolution. The first industrial revolution was driven
by the steam engine and mechanisation, the second by
Henry Ford’s assembly line and the third in the 1970s, when computers
revolutionised the workplace. Now the three have coalesced, putting
manufacturing companies at the dawn of Industry 4.0, an age where
“smart devices” really are smart enough to assume major control over
their machines of manufacturing and distribution.
The Industry 4.0 Project is now part of the German government’s
official High-Tech Strategy, which it is actively pursuing in conjunction
with private sector partners. Its target is to: “Ensure the Future of
German Production”.
How important is Industry 4.0 to Germany?
Manufacturing is still a backbone of the German economy, accounting
for 22% of GDP in 2014. This is approximately 30% higher than the
European average and 100% more than in France. It also contributes
to 17% of total employment. Meanwhile, Germany is ranked third
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g l o b a l l y i n t e r m s o f e x p o r t i n g
goods and services, a status which
i s p r i m a r i l y s u p p o r t e d b y t h e
manufacturing industry. So there
is a necessity to keep/strengthen
the compet i t iveness o f Ger man
manufacturing in the increasingly
competitive global market.
In the last two decades, for example,
the lion’s share of manufacturing has
switched to emerging economies,
from 21% of the manufactur ing
value added in 1991 to 40% in 2011.
Nowadays, competition for Germany’s
manufacturing industry does not only
come from Asia (for example “Made
in China 2025”, the “Industrial Value
Chain Initiative” in Japan), but also the
US. Germany therefore needs to find
a solution to keep its manufacturing
industry’s international competence.
Based on a BCG study, in the next 10
years, Industry 4.0 will help Germany
gain 5-8% of productivity (considering
the cost of material), and roughly 1%
of GDP. Manufacturers need to invest
about 1 to 1.5 of their revenue to adapt
to Industry 4.0, which has energy
efficiency and sustainability among its
key characteristics. It is expected that
in 2035, 60% of electricity in Germany
will be generated from renewable
energies. Industry 4.0 could improve
the security of the energy supply
and solve the industry’s threat to the
environment.
In du s t r y 4 . 0 i s a l s o a s t r a te g i c
response to deal with the demographic
challenges faced. Low birth rates
and a declining population size is
the main demographic challenge in
Germany. The country’s population
will decline to 65-70 million by 2060,
which is approximately 16% less than
its population in 2014. Industry 4.0
could release workers from having to
perform routine tasks, enabling them
to focus on creative, value-added
activities. It will also allow older
workers to extend their working lives
and remain productive for longer.
In addition, Industry 4.0 caters to
the new generation of consumers’
demand for individualised products.
With highly flexible mass production,
manufacturers are able to meet this
demand w i thout compromis ing
quality.
H o w i m p o r t a n t i s G e r m a n y ’s
Industry 4.0 to China
From a quantitat ive perspective,
China is the No.1 manufacturing
country in terms of value added; its
manufacturing industry takes up 31%
of GDP, 9% higher than Germany.
From a qualitative perspective, China’s
goal is to transform from “Made in
China” to “Created in China” and
upgrade its manufacturing industry
structure. China is facing challenges
“Earlier industrial revolutions did not happen overnight, nor were they recognised as such at the time.”
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from both developing countr ies
and de ve loped countr ies in the
manufacturing industry. With its aging
society it is also facing demographic
change. The number of Chinese senior
citizens (over 60 years) was already
over 200 million in 2014. As they are
to Germany, resource efficiency and
energy supply security are equally
important to China. Meanwhile,
China needs to gain productivity to
maintain its competence and handle
the challenges it faces.
Made in China 2025 echoes the
idea of Industr y 4 .0 . S imi lar to
the German concept, China also
emphasises applying IT technologies
in Industrial Production. China’s
Premier Li Keqiang proposed the
strategy in last year's government
work report, meaning to upgrade the
industrial and technical standards in
China. The country will implement
this Made in China 2025 strategy
alongside an Internet Plus plan, based
on innovation, smart technology, the
mobile Internet, cloud computing,
big data and the Internet of Things
(IoT). Following this, informatisation
and industrialisation will be unified
and priority wil l be given to the
development of 10 particular fields,
including information technology, new
materials and agricultural machinery.
I m p l i c a t i o n s f o r S i n o - G e r m a n
cooperation
Industry 4.0 was conceptualised in
Germany to maintain competitiveness
of German manufacturing in the
increas ing ly compet i t ive g loba l
market and to address demographic
changes. China has the world’s No.1
manufacturing sector, however it is
in need of improvement with regard
to quality and competitiveness and
faces similar challenges to Germany –
such as a rapidly aging society. Made
in China 2025 resonates well with
international trends such as Industry
4.0. Advanced manufacturing is a
strategic area with great potential
for cooperation between China &
Germany. BMW is keen to exchange
our insights in Industr y 4.0 and
continue our efforts in China to fulfil
the Made in China 2025 vision in the
auto industry.
Are you ready for Industry 4.0?
Industry 4.0 is currently more of a
vision than a reality, but it is one with
potentially far-reaching consequences.
The concept continues to evolve as
people think of innovative ways to
implement it. Most of the techniques
and technologies needed to implement
Industry 4.0 exist today, such as
radios, sensors, and GPS modules that
could be used for asset tracking.
Sensors will be involved at every
stage of the manufacturing process,
providing the raw data as well as the
feedback that is required by control
systems. Industrial control systems
w i l l b e co m e f a r m o re co m p l e x
and widely distr ibuted, enabling
flexible, fine-grained process control.
Programmable logic wil l become
increas ing ly imp or tant s ince i t
w i l l be imposs ible to ant ic ipate
al l the environmental changes to
which control systems wil l need
to dynamica l ly respond. Smar t ,
connected embedded devices will
be everywhere, and designing and
programming them will become that
much more challenging – but also
rewarding.
Earlier industrial revolutions did
not happen overnight, nor were they
recognised as such at the time. For its
part, Industry 4.0 may or may not be
recognised as revolutionary – rather it
may be seen as evolutionary.
Whether revolution or evolution,
industrial production is about to
become a lot more efficient. It will
be important to stay tuned for more
innovat ive developments and of
course to get involved in making them
happen.
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Zurich
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UBS’ renowned conference centre located a stone’s throw away from the
legendary “Paradeplatz”, the heart of Switzerland’s financial centre, was the
venue for the second stop of the CEIBS 2nd Europe Forum. The first of the
day’s panels provided valuable information on how European companies – especially
Swiss ones – can and are embracing the Chinese market. Panellists represented global
healthcare giant Roche, wealth management experts UBS, and the Swiss-Chinese
Chamber of Commerce a networking and information platform for those serious about
doing business in both countries. Read on for excerpts:
Swiss Companies Doing Business in China
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Lots of Opportunities: Trust is Vital Frank Niedermann,
Managing Director, Head of Wealth Management APAC Switzerland UBS
In Europe, entrepreneurs fear the size
and aggressiveness of potential partners
from China. The big challenge for us is
to find out the investors’ true motivation.
This is where CEIBS can play a crucial
role: by acting as a facilitator between
cul tures ; in par t icular, between
Switzerland and China. Because it
is all about true understanding. If
we identify a sincere candidate in
China, particularly in the production
industry, and we have a candidate here
in Switzerland, the opportunities are
tremendous because this country has
many outstanding brands.
Whether it's a chocolate maker or a
fashion brand, the brands here are
high-end, wonderfully developed and
they generate great cash flow. But it’s
all about finding the right partner.
So, I encourage you to please help us
create understanding of each others’
motivations. In this way, we can create
long-lasting deals for all.”
“F i v e y e a r s a g o i n C h i n a , i f I
a s k e d a n e n t r e p r e n e u r i f h e
might be interested in acquiring
an international organisation or
expanding his business abroad, he’d
always ask, with a big smile, “Frank,
why should I go to Europe? We have
10% GDP growth and we have a
huge country. China is a big enough
market; there’s no need to go to
Europe.” Today, this way of thinking
has completely changed.
We heard this morning about the
huge capital flows. About one third
of these assets go into the US; one
third are distributed in Asia and one
third comes to Europe. So it goes,
primarily, first into real estate; because
entrepreneurs are very comfortable
with investing in real estate. But then
of course some goes into industrial
investments, hospitality industry,
hotels, medical technology, clinics,
beauty products, fashion, food, etc.
What I hope will be the key takeaway
today, is that we love to help Chinese
entrepreneurs find the right potential
target in Europe; the right partner
to co l l a b or a te w i t h . Cu r ren t ly,
m y t e a m a n d I h a v e a b o u t 3 0
substantial groups looking to expand
into Europe. At the same time, in
Switzerland, I have access to about
50 companies that I know would be
very interested in expanding in the
other direction. They’d love to have
an additional distribution channel
as well as a fresh injection of capital.
They want to keep the companies’
legacy intact for the next generation.
So they are looking for a buyer, not
because they have a mandate to do
so, but because it is something they
aspire to. I have about 40 companies
in Central Europe, Eastern Europe, in
the technology field – they’re looking
for partners. So investments are
welcome. But the biggest challenge
for us is trust.
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Importance of the China marketSusan Griffing, Vice President, Global Head Country Clinical Operations, Roche
Are you listening?
Felix Sutter, President of Swiss-Chinese Chamber of Commerce;
Partner at PriceWaterhouseCoopers, Risk Assurance Division
“We’ve been in China a long time: since
1926. Roche had an end-to-end value
chain group based in Shanghai for
many years. Not only that, we actually
export some of the products we make in
China to the EU and to the US. We’re
very committed to China – and already
[during today’s event] we’ve heard a
number of reasons why commitment
to this market is important. Roche is
dedicated to patients in China; to our
people in China and to expanding our
business in this country and in the
wider Asia-Pacific region.
We do drug discover y, research
d e v e l o p m e n t , m a n u f a c t u r i n g ,
marketing and sales in China. In
fact, Roche is amongst the leading
multinationals in the country, ranked
fourth in terms of revenue. We also
consider China to be a strategic site for
us, alongside San Francisco and Basel.
Shanghai, Beijing and Guangzhou (we
formerly had an office in the latter
city) are key strategic sites for us, which
goes to show just how important a link
China is along our integrated global
R&D chain. We have people in China
who work on both China programmes
and global programmes. We look to
develop and attract talent in China and
throughout the region.”
“Listen to the Chinese government,
it communicates with the business
community. Have you read the Five-
Year Plan? Do you understand what’s
in it? Do you know what the potential
implications of the hukou reform may
be on the real estate industry? Do you
understand what this reform means
for education? Do you understand
what new educational policy shifts
mean in terms of number of students
who will be admitted to schools in
Beijing and other top-tier cities?
What do they mean for students?
The anticipated impact of all these
changes has been communicated to
us by the government, and we need to
understand [these and similar issues
if we want to do business in and with
China].”
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Fix your ba lance sheet i f you
want to grow! That’s the advice
outspoken economist Professor
Xu Xiaonian offered China and Europe
during CEIBS Europe Forum series across
four major cities this May.
Xu, a Professor of Economics & Finance
a t C E I B S i s k n o w n f o r h i s f r a n k
comments that are often not perfectly
aligned with China’s economic policies.
Throughout the Europe events , he
chose his words carefully – not backing
down from expressing himself but also
presenting a fairly balanced picture.
While he stressed that he does not at all
understand the thought process behind
the economic policies both China and
Europe are now using, he is still bullish
Fix Your Balance Sheet, Says Xu Xiaonian
on at least one of the two countries. “I’m
not pessimistic at all about China, that’s
why I’m still [living there],” he told an
audience of about 250 diplomats and
business executives during CEIBS 2nd
Europe Forum 2016 event at the UBS
conference centre in Zurich on May 20.
“Please stay [in China] and work with us.
If you miss the opportunity to work with
China, you will regret it,” he added.
Xu is confident that there is no currency
crisis on the horizon for China, no serious
debt crisis “because the government has
trillions in assets”, and the country still has
a “huge potential” for growth. He expects
that once economic reforms are launched
in China, we will see “a new phase of
economic development.”
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His comments came on the heels of
a long-running debate on the status
of the Chinese economy. A large part
of the four series of events hosted
by CEIBS in May was to help the
European market better understand
the Chinese economy and f irms,
and vice versa, while providing the
knowledge base and platform needed
by its alumni who are eying the global
market.
During his keynote speech, Xu drew
parallels between the choices China
now faces and the inadequate steps
the EU took to deleverage its economy
after the 2008 crisis. He cited data
that showed that the US economy,
which took a haircut after the crisis,
recovered earlier than the EU, which
is still lagging behind. “My advice to
China and the EU is clean up your
balance sheet first, then we can talk
about economic recovery,” he said.
The concre te s teps the Chinese
government needs to take, Xu added,
include shrinking the balance sheet
and cleaning up excess. This would
mean selling state assets and using
the money to write off bad loans
and recapitalise the banks; resolving
over-capacity by closing loss-making
firms; and engaging in fiscal austerity
though it may deepen recession in
the short term. Xu also suggested the
deregulation and breaking up of state
monopolies, steps that he said would
create investment opportunities and
jobs as well as promote competition
and improve efficiency of resource
allocation. He also spoke of the need
to protect private property rights
in order to encourage long-term
investment in R&D, which would also
decrease capital outflows and therefore
prov ide suppor t to the Chinese
currency. These steps, he added, would
require judicial reform to separate law
enforcement from the administration.
For MNCs and others doing business
in China, he urged: “Stay [in China]
and go through the difficulty with us;
work with us. The well-being of the
people is still the number one priority
of the [Chinese] government.”
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London
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EY’s impressive Canary Wharf venue and excellent support staff helped make the
third event in the series a success on May 24. It also helped to have great content
provided by the 10 speakers and panellists who took the podium to discuss
Renminbi (RMB) Internationalisation and China’s Financial Innovation. Among them
was Jin Mei, Chief Representative, People’s Bank of China Representative Office for
Europe. She spoke about the latest policies related to RMB business and capital account
liberalisation, the outlook for RMB internationalisation, as well as London’s position
and role in the process. Here are excerpts:-
Open for BusinessPeople’s Bank of China Woos London
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“I hope that by the end of my speech
you will have more confidence in
investing in China and are more
interested in using the RMB.
The first point I want to emphasise
is that RMB internationalisation is
a long-term process and has been
moving forward step-by-step over
time. This is not only a trend but also
an established guideline, despite some
minor twists and turns. The general
trend will not change in terms of
policies.
The second point I want to highlight
is that we are pushing forward with
RMB internationalisation and capital
account liberalisation in a sound
and orderly manner, while ensuring
that the risks are controllable, and
forestalling any systemic or regional
financial risks. [When implementing
these measures], we fol low three
principles. First, we adopt a macro-
prudential approach in managing
pr ivate and public external debt
so as to avoid large-scale currency
m i s m a tch . S e co n d , we co n d u c t
necessary monitoring of cross-border
financial trade. Third, we maintain
appropriate control over short-term
speculative cross-border types of
loans.
According to the 13th five-year plan,
in the next five years from 2016 to
2020 China will continue to widen
the opening of its financial sectors,
realise RMB convertibility and capital
account opening in an orderly manner
and make the RMB a convertible and
freely useable currency.
However, considering capital account
convertibility is a complicated and
long-term issue, China has no [fixed
timeframe]. On the contrary, it is the
market that determines how fast it
can go and how long it takes to reach
certain goals. [When implementing
these measures] , the PBOC w i l l
“I hope that by the end of my speech you will have more confidence in investing in China and are more interested in using the RMB.”
Jin Mei, Chief Representative,
People’s Bank of China Representative Office
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evaluate all the difficulties that might
ar ise ahead and make necessar y
preparations in line with established
pr inc ip les of bet ter ser v ing the
economy, facilitating investment and
trade, and preventing risks.
The third point I want to talk about
is that China welcomes international
investors to tap the country’s stock
market and create a win-win situation.
In recent years, China’s stock market
has developed rapidly and it is now
taking the lead globally in terms of
speed. In terms of size, China’s stock
market has risen to third in the world
and the country’s corporate bond
market is ranked second. As China’s
economy enters a New Normal, and
the country’s reform enters deep
waters, China’s stock market will
see more emphasis on innovation,
coordinat ion, g row ing , opening
and sharing. China will gradually
improve its market environment so
as to attract, retain and benefit more
and more issuers and investors. In
the future, China’s stock market will
continue to grow at a reasonable
speed and meet the growing financing
demands of the real economy. Also
in l ine with demands of the real
economy, China will promote product
and markets innovation in the bond
market and enhance risk resolution
as well as investor protection. Along
with the general trend of financial
market opening up, China will further
open its bond market, allowing more
foreign issuers of different types into
the interbank stock market, widening
the spectrum of foreign institutions
issuing RMB bonds, encouraging more
offshore investors to participate in the
interbank bond market, enhancing
investor structure and promoting self-
discipline among foreign issuers and
investors.
Finally, I will spend some time talking
about RMB business in the UK and
the deve lopment of the London
offshore RMB market.
In 2015, total receipt and payment
a m o u n t f o r c ro s s - b o r d e r R M B
business between China and the UK
reached about 290.4 billion yuan,
increasing 10.5% compared with the
previous year. Cross-border RMB
receipt and payment for bilateral
trade reached about 153.4 billion
yuan, increasing by 112.7% year-on-
year and accounting for 31% of total
import and export between China and
the UK.
In January to April this year, the total
receipt and payment amount for cross-
border RMB business between China
and the UK reached about 88.6 billion
yuan, cross-border RMB receipt and
payment for bilateral trade reached
about 52.5 billion yuan, accounting
for 36% of total import and export
between China and the UK.
[But] there is still great potential for
use of RMB in settlement between
China and UK.
As an international financial centre,
London can play a unique role in the
process of RMB internationalisation.
Together with the UK Treasury and
Bank of England, the PBOC would
like to further financial and monetary
cooperation between China and the
UK and promote the diversification of
the international monetary system.”
theLINK Volume 3, 2016
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39
Chinese Banks Ready for RMB Internationalisation?Sir Gerry Grimstone Chairman, Standard Life; Deputy Chairman, Barclays
“Looking ahead, it’s easy to see why the
United Kingdom government, the City, senior
practitioners such as myself, are attaching
such importance to China. It is with the
expectation that, at some point in the future,
China will be the world’s largest economy. It’s
very, very important that London positions
itself to be the international offshore centre,
the international intermediary for China.
And it’s not accidental, therefore, that this
is a topic that the British government, at its
highest levels, pays so much attention to. And
it’s also clear because of the advantages to
China, as well as to London, why the same
thing goes for the Chinese government.
One day the renminbi will not just be in the
top five of global currencies, it will certainly be
in the top three of global currencies, sharing
equal status with the US dollar and the Euro.
London at the moment accounts for more than
half of all global offshore trading in the renminbi.
London’s position in the renminbi market is
greater than all renminbi centres put together, not
Internationalisation of ICBCGu Shu, Senior Executive Vice President, Industrial and Commercial Bank of China
“ICBC is the biggest RMB bank and we are
becoming quite international.
ICBC currently has about RMB22 trillion
in assets and on the liability side it’s RMB16
trillion. Last year’s annualised profit was
roughly RMB27 billion. We have quite an
extensive RMB customer base: five million
corporate customers and 500 million retail
customers. For RMB business we currently
have six overseas branches and have been
designated by the People’s Bank of China as
the official clearing bank. In Europe, we have
a Luxembourg branch; we are in America and
we also have some clearing banks in Asia – a
Singapore branch and two other branches. So
we can handle RMB clearing on a real-time
basis, 24 hours, around the clock.
Beyond that, we presently have 42 countries
and regions where our overseas branches can
provide services, especially RMB services, to our
customers; so we are becoming more and more
international. So on one hand we can provide
two-way service, to better service our overseas
customers and help them better understand
China. On the other hand, we help our Chinese
customers access overseas markets.”
theLINK Volume 3, 2016
cover story
40
least because of the activities of ICBC.
What are the consequences of that going
forward? I think it’s underestimated
w h a t t h e co n s e q u e n ce s a re f o r
Chinese banks, such as ICBC, of this
globalisation of the renminbi and the
internationalisation of the renminbi.
By 2049, the 100th anniversary of the
foundation of China, I expect Chinese
banks to be amongst the world’s global
banks. Not just very large in China,
obviously, but very large in their global
positioning as well. And this is helped
by the fact that European banks, such
as mine, I’m the Deputy Chairman of
Barclays, we are pulling back from our
global operations. Barclays is in the
process of exiting 26 countries around
the world, countries where we’ve had
business for many, many years. And I
expect that vacuum will eventually be
taken up by the Chinese banks, driven by
the internationalisation of the renminbi.
So, it’s not for me to give (ICBC
Chairman) Mr Gu advice, he’s a very
fine banker. But what do I think
Chinese banks have to do to grasp
this huge opportunity presented by
the internationalisation of the RMB?
First, as we heard earlier, they do have
to become more market-oriented.
And when they are carr y ing out
functions for the State, the very, very
important functions they do for the
State, they will have to increasingly,
I think, do it transparently, and as a
discreet part of their operations; as
opposed to being mixed in their day-
to-day operations.
Their international risk frameworks
will have to be brought up to global
standards, because this will allow them
to take more risks. At the moment, we
see Chinese banks not taking as much
risk as we would expect them to take,
given their standing and their status.
And I think this is purely because their
global risk systems are not yet fully
advanced. Their top management,
who I’m absolutely certainly will still
be Chinese in the year 2049, will all
have spent time working overseas,
l iv ing overseas. So we wil l have
international expertise at the top of
the Chinese banks.
They will become more confident in
employing talented local people in
their international operations. The
European banks, the American banks
Internationalisation of ICBCGu Shu, Senior Executive Vice President, Industrial and Commercial Bank of China
have always been very confident in
employing people at the highest level
from outside their core country. I
think China will go down that route
eventually as well. To do that, they
would have to understand how to
retain expatriate employees, and how
to incentivise them, going forward –
neither of which is easy for Chinese
banks. I’m sure they will become
major players in the capital markets,
not just in relation to China business,
but more generally to global flows.
And I think they will develop a much
greater advisory capability to help
Chinese companies go global.
They will almost certainly run their
international businesses from London.
It’s no accident that American banks,
European banks, run their international
businesses from London. Ten years, 20
years from now, I expect Chinese banks
to run their international businesses
from London. As for European banks,
of course we’re all very excited, very
interested in the renminbi business, and
we will surely capture a slice of that.
But I think increasingly, we will look
to partnership with the major Chinese
banks, to do things together with them.
So I think the golden decade of UK-
China relationships is going to bring
great opportunities for both sides.
I think it will be a great benefit to
London. And I think that will be at
the expense of New York, and also,
I would say, Hong Kong. I think
London will eventually become the
dominant offshore financial centre for
the renminbi.”
“London will eventually become the dominant offshore financial centre for the renminbi.”
theLINK Volume 3, 2016
cover story
41
Paris
theLINK Volume 3, 2016
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42
The stop in Paris, held at the Université Paris Dauphine on May
25, was a fitting end to the 2nd CEIBS Europe Forum with two
case studies that drove home the point of just how much can be
achieved through collaboration. Chairman of Cathay Capital Cai Mingpo
(EMBA 2004, CEO 2009) and Chairman & CEO of Biostime Luo Fei (EMBA
2006) spoke about their inspirational entrepreneurial experiences around
the theme of “Business Opportunities in China and France: Win-Win
Collaboration”. Cai Mingpo, the master of a €1.3-billion fund, has humble
roots in a fishing village in Fujian. Luo Fei’s Biostime is the first Chinese
company in history to acquire a French cooperative. How did Luo break
through the cultural and legal barriers encountered throughout the process?
“Because I knew exactly where we were going, so I was determined, fearing
nothing,” he said.
Here are excerpts from their speeches:
Win-win for Chinese & French Enterprises
theLINK Volume 3, 2016
cover story
43
Cai Mingpo:Good People Can Turn Hell into Heaven
Now we have €1.3 billion in our fund,
and we have an innovation fund of
€250 million, a very lucrative fund for
small enterprises, and we established
a fund of €500 million for medium-
sized enterprises in 2014. Our partner
in China is the National Development
Bank (NDB), and ours is the foreign
fund receiving the largest investment
from the NDB. We have over 50
employe es f rom China , Fr ance ,
Germany and the US, we have made
investments in nearly 60 enterprises,
among which are French and Chinese
c o m p a n i e s . T h e i r t o t a l a n n u a l
turnover reaches €5 billion.
We have transactions nearly every
week. We must sell shares, and we
often make acquisitions. Often I stay
the first two weeks in the US, the third
in China, and the fourth in France. I’ve
been repeating that pattern a lot, and
“I was born in a fishing village in
Fujian and our culture can be summed
up in the following words: ‘When you
enjoy fruit, do not forget those who
planted the tree’. Twenty-seven years
ago I came to France; I did not know
even a word of French. I first got to
Orleans, where I learned French, and
later I entered EMLYON Business
School. After graduation, I joined
Groupe SEB (a French manufacturer).
I am what I am today, because of the
help many people gave me. When I
was 24, SEB sent me back to China,
and I got a lot of sales for its products.
Three years later, I decided to start
my own business, and went back
to Orleans. At the time I went into
French villages to sell tombstones, and
I learned a lot from the business. The
most important thing is, if you have
good products, and you are honest,
your business will grow.
I can say France gave me everything,
and I feel proud of my origins here.
I went back to Shanghai for my CEIBS
EMBA studies in 2004, and prepared
to create a fund with a French partner.
Cathay Capital (France) was formally
launched in 2007, with €70 million,
which was too enormous for me
at the time. Caisse des dépôts et
consignations (CDC, Deposits and
Consignments Fund) gave us a lot of
support then, because they thought
Cathay’s strategy was correct. We
would help French companies to
start business in China, and Chinese
companies in France, and we would be
facilitating cultural communication.
We would not only do business, but
also contribute to the economies of
both countries, and only in doing so
could we earn their trust and create a
win-win situation.
theLINK Volume 3, 2016
cover story
44
I have to have the three countries’ maps
with me all the time.
We have over 50 employees, so how can we
get them to work in sync? To accomplish this
I introduced the values of a Fujian fishing
village. Fujian people strongly believe that
‘fraternity prevails’, that there is friendship
and amity between people after all the gains
and losses. In my organisation, people think
it is our common effort even when I do
only 1% of the work and they get the other
99% done. We have a round structure, and
you get to be at the centre wherever you
want. There are no fixed central points, and
no headquarters. We span three continents,
and it won’t do to have a hierarchy. We have
no conflicts over power and self-interest. We
just hold good people together, and as long
as they are together, hell can be turned into
heaven. On the other hand, if you have bad
people together, you’ll have hell even if you
are in heaven.”
“We have no conflicts over power and self-interest. We just hold good people together.”
Luo Fei: Resources, Technology and Market“I’ve been working with French companies for 16 years.
In 2000, when I first came to Paris, getting a visa was
still very difficult, but now I have got my five-year visa,
and can come and go as many times as I wish. I founded
Biostime in 1999 to establish my own brand, and to help
more people in need. At the time I found there was the
issue of antibiotic abuse in China, which particularly
affected children. I majored in bio-engineering, and I
know probiotics can help children. So I collaborated with
LALLEMAND SAS, using our brand in China to sell their
products.
Then, probiotics for children was a brand-new concept
in China. We went into the market and many moms were
shocked at the name. They would say things like, ‘are you
telling me to feed germs to my baby?’ We benefited from
France’s premium biotechnology, the products had great
features, and we created a market in innovative ways.
Today we still hold 80% of the market share in China
for this kind of product. All our probiotics come from
French companies, and so we are contributing to the
French economy as well.
In 2008, when we were considering how our company
was to grow, we decided to produce infant milk powder.
At that time such products had been highly standardised
in China, with everybody producing the same product,
at the same price. We thought that we must create new
needs. People do not naturally need milk powder; they
can drink human milk. So, when you want to produce
theLINK Volume 3, 2016
cover story
45
infant milk powder, you have to
set the quality standard as near to
that of human milk as possible. We
thought about developing better
products to meet this need. So I
worked with a French company on
this project, focusing our efforts on
the development of premium infant
milk powder. When our product
was released, it was priced twice as
much as ordinary products, but it
helped the assimilation of infants, and
significantly lowered their rates of
constipation.
I always believe: the market is always
there. It’s just how you develop and
satisfy needs.
Eventually we decided to invest in
a French company, Isigny Sainte
Mere, for our premium products.
At the t ime, many people asked
me why we invested in Isigny, and
my answer was: because we needed
resources. Normandy has a very good
environment, good cows producing
high-quality milk, and they have good
technology accumulated over the years
in producing infant milk powder. It’s
their ‘resources + technology’ that
we craved; meanwhile we have huge
market demand in China. So, we
call this pattern ‘RTM’: Resources,
Technology, and Market.
Both sides set goals, things we must
do, and must achieve through any
possible means. During the acquisition
p r o c e s s , w e s o l v e d m a ny l e g a l
problems. For example, according to
EU law, I could not become board
member of the company, because I
was not an EU resident, but this was
hardly acceptable to a founder of a
company. But later we found a way
out. We arranged for another member
of the company to be a board member,
a n d i nv i t e m e to m a ke a g u e s t
appearance at every board meeting.
The problem was solved in this way.
So I think the important thing behind
any collaboration is to set goals and
achieve them.”
“The important thing behind any collaboration is to set goals and achieve them.”
theLINK Volume 3, 2016
cover story
46
SPECIAL THANKS TO:
Co-Organizers: Strategic Partners:
ZURICH EVENT:
MUNICH EVENT:
Organizers:
Strategic Media Partners:
Strategic Partners:
Partners:
Organizers:
Strategic Partners:
Partners:
LONDON EVENT:
Co-Organizers:
Supporting Organizers:
Partners:
Special thanks to:
Strategic Media Partners:
Media Partners:
PARIS EVENT:
theLINK Volume 3, 2016
cover story
47
By Yu Haitao & Cherry Xia
Sustainable Solutions Boost Goodwill
Sustainability is no longer a novel idea. What is
interesting to note, though, is that companies have
a variety of ways to develop initiatives through
which they can convey their own interpretation
of the word. These initiatives often include the idea that
sustainable development is closely linked to modern
business practices, and some leading global companies have
become pioneers in this respect.
For example, in 2005 General Electric (GE) came up
with the concept of “Ecomagination”. After a decade of
development, the company’s green products include planes,
motors, engines, clean coal technology and water treatment.
They combine profitability with energy and environmental
conservation solutions. Similarly Nespresso has become one
of the fastest growing departments within Nestlé, primarily
because it established agricultural, technological, financial
and logistical companies in each of its coffee producing
areas, providing support for improving the quality and
efficiency of local coffee production.
Why are enterprises making sustainability a priority?
Answers may be found in the fact that many of them have
seen the results of their goodwill pay off in the form of
strategic competitiveness: Brand awareness. This makes customers, particularly
those in developed markets, more loyal to the brand
and more willing to pay a premium for its products or
services. Talent pooling. Employees can find meaning in their
work and are therefore more loyal to a company that
has a greater sense of responsibility and duty. Improved efficiency. Saving energy and reducing
emissions can significantly reduce a company’s costs. Maintaining relationships. Companies make strategic
investments in order to maintain good relationships
with stakeholders, in a “social contract”. Such
investments are sometimes defensive, for example to
meet higher policy requirements from the government.
Sometimes they are an active investment that is aimed,
for example, at fostering a better environment for
community operations. Innovation. This is often the most important and
strategic reason. It can be operational and managerial,
aiming to improve efficiency, or it can involve changes
in business models. For example Michelin transformed
itself from a tire seller into a mileage seller through its
“Fleet Solutions”.
Read on to learn about four cases studied by the CEIBS
Euro-China Centre for Leadership and Responsibility
(ECCLAR): -
ceibs KNOWLeDGe
48
theLINK Volume 3, 2016
Dow: Innovate for the envIronment
Dow is a diversified multinational chemical industry
giant that leverages the power of science, technology, and
the “human element”. As far back as 1995, Dow decided to
focus on areas such as environmental protection, along with
the mental and physical well-being and security of people.
It planned to achieve its goals in these areas over the next
decade with an investment of US$1 billion. Surprisingly,
achieving these goals lowered emissions and reduced its
costs, resulting in cost savings of over US$5 billion.
Dow set even higher goals in 2006, developing several
groundbreaking products to meet this “2nd-generation
sustainable development” initiative. For example, together
ceibs KNOWLeDGe
49
theLINK Volume 3, 2016
with Dow, Haier Group developed the first Casarte eco-
friendly washing machine enabled with DOW Ultrafiltration
(UF) Technology, a kind of technology that enhances the
cleaning effect of laundry detergent so that washing a load
of laundry requires less water. In the life cycle of the average
washing machine, the technology can help to save as much
as 70 tons of water, nearly 1,300 kwh of electricity, and the
CO2 emission reduction amounts to the planting of six trees.
Another example is the Omega-9 healthy oil independently
developed by Dow. Since 2005, it has helped North Americans
reduce their intake of trans-fats and saturated fats by over 1
billion pounds, contributing to lowering the number of cases
of heart disease and Type-II diabetes.
mary Kay: entrepreneurshIp that supports women
After being the victim of gender discrimination, Mary Kay
resolved to help women achieve success both in career growth
and personal wealth. From a small makeup display room in
Dallas, Texas in 1963 she launched what today has become a
thriving cosmetics company that has provided job opportunities
for over 3 million people, most of whom are women.
Mary Kay established the Women’s Entrepreneurship
Fund in China, and encourages women to participate in its
cultural industry projects. During the 2016 Autumn and
Winter Shanghai Fashion Week, the Fund presented designer
works featuring a combination of ethnic Yi embroidery
from Yunnan in China and Nepalese cashmere in a fashion
show. The event, which had “Lost & Resurfacing” as its
theme, raised funds for the victims of the Nepal earthquake
who were still struggling for survival. The Yi embroidery
work was done by women weavers who have benefited from
the Mary Kay Women’s Entrepreneurship Fund.
tff: CreatIng a platform for BusIness InnovatIon
Thought for Food (TFF) is an innovation platform
created by the Swiss agricultural giant Syngenta. Through
an entrepreneurship contest that asks the question “How do
we feed 9 billion people?” it challenges teams of university
students around the world to develop innovative businesses
that propose solutions.
TFF introduced counsellors, tools and other resources
to help competing teams put their ideas into practice, and
realise their business plans. By 2015, TFF had successfully
incubated 10 start-up companies in agricultural technology
innovation, among which “Vertical Farm” has begun its
commercialisation phase through its cooperation with TFF.
TFF provides a platform for young people around the world
ceibs KNOWLeDGe
50
theLINK Volume 3, 2016
non-profit institutions and social enterprises) improve their
abilities, coordinate community resources (capital, venues,
and personnel) and form a leadership network. Ultimately,
they leveraged more than US$3.8 million in government
financial support by investing US$400,000 and 10,000
volunteer hours.
Traditionally, many people perceive business as the
source of social and environmental problems. However,
the four examples here illustrate how business can provide
sustainable solutions. It can be argued that the resource rich
business sector (in the US, corporate revenue was seven
times the income the government earned from taxes in
2013) is well positioned to tackle these issues head on. More
importantly, businesses can scale up once solutions prove to
be effective.
About the euro-ChinA Centre for LeAdership And responsibiLity (eCCLAr)
CEIBS is committed to educating
socially responsible leaders versed in
“China Depth, Global Breadth” in line
with its motto of “Conscientiousness,
Innovation and Excellence”.
Since its founding, CEIBS Euro-
China Leadership and Responsibility
Research Centre (ECCLAR) has
been committed to the research and
teaching of the social and environmental development
problems China is facing. ECCLAR strives to improve the
awareness and ability of enterprises to realise sustainable
development, to push for responsible business practice,
and to help companies integrate sustainable development
into their strategies, in order to realise both profits and
sustainable development.
For more information about the centre, visit http://
en.ceibs.edu/leadership-and-responsibility
who are passionate about agriculture to “turn their crazy
ideas into business opportunities”. Through this project,
TFF has facilitated innovation in the sector.
Earlier this year, TFF became an independent non-
profit foundation, providing opportunities for more
companies to leverage this new era with fresh knowledge
and new technology.
svp: Develop soCIal purpose organIsatIons wIth BusIness
aCumen
Venture Philanthropy (VP), an innovative investment
and philanthropy approach that applies business acumen
to the development of social purpose organisations is
becoming increasingly popular.
Mark Holloway is Executive Director of one such
venture philanthropy organisations based in Portland,
USA, a company called Social Venture Partners (SVP). In
March 2016, Holloway shared his experiences in public
welfare entrepreneurial investment. He explained that, to
answer a need for early education in the local community,
SVP had helped a number of social organisations (including
ceibs KNOWLeDGe
51
theLINK Volume 3, 2016
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中欧奖学金基金艾默生巴塞罗那养老金储蓄银行晨兴创投东渡国际集团好利安宏盟集团
Emerson"la Caixa"Morningside VenturesDDI GroupHovioneOmnicom Group Inc.
CEIBS Scholarship Fund龙旗控股集团刘吉管理教育基金助学金润英联(中国)有限公司安越企业管理咨询公司吴敬琏学术基金周宗明校友 (EMBA2004 级 )
Longcheer GroupLiu Ji Education FundInfineumEasyfinance Management ConsultingWu Jinglian Academic FundMr. ZHOU Zongming (EMBA2004)
TCL巴可创天昱科技帝亚吉欧风神集团国家开发银行华泰证券环球资源嘉华集团景林资产敏华控股三全食品上海家化集团上海金桥集团
TCLBarcoCTK Co., Ltd.DIAGEOFengshen GroupChina Development BankHuatai SecuritiesGlobal SourcesK. Wah GroupGreenwoods CapitalManwah HoldingsSanquan FoodShanghai Jahwa GroupShanghai Jinqiao Group
中欧校园基金 CEIBS Campus Fund上海氯碱化工上海大众汽车彤程集团万得资讯沃尔沃西班牙 IDOM 设计集团西班牙政府远东控股集团柘中集团中国电信上海公司中国石化上海石化
Shanghai Chlor-Alkali ChemicalShanghai VolkswagenRed Avenue GroupWind InfoVolvoIDOMSpanish GovernmentFar East Holding GroupZhezhong ElectricChina Telecom ShanghaiSINOPEC Shanghai Petrochem
景林资产Greenwoods
theLINK Volume 3, 2016
Financier’s SalonsCEIBS continues to be a platform that brings together influential figures from the worlds of government, finance and academia for an exchange of ideas on matters of vital importance. Here are some recent events: CEIBS Baosteel Chair Professor Wu Jinglian gave the keynote speech on supply side economic reforms at the 86th Lujiazui Financier’s Salon held on April 18 in Shanghai. The event was co-organised by CEIBS Lujiazui Institute of International Finance (CLIIF) and the CEIBS Education Development Fund. CEIBS Zhongkun Group Chair in Finance and Director of the CEIBS Shoushan Centre for Wealth Management Prof Oliver Rui gave the keynote speech titled “Wealth Management in China: Eye of an Epoch” at the 87th Lujiazui Financier’s Salon held on April 23 at CEIBS Beijing Campus. The 1st CEIBS World Bank Inclusive Finance Salon and 88th CEIBS Lujiazui Financier’s Salon were held on May 23 in Shanghai. Director of CEIBS-World Bank Centre for Inclusive Finance Wang Jun, who is also CEIBS Adjunct Professor of Finance, gave a keynote speech on “National Strategy of Inclusive Finance”. China Banking Regulatory Commission’s Shanghai Director Liao Min, Chairman of Maanshan Rural Commercial Bank Sun Xiao, and Co-Founder of Internet Finance Thousand Friends Cai Kailong also participated.
Healthcare Forum 2016“Coordinated Reform of Medical Services, Medical Insurance, and the Pharmaceutical Industry” was the theme of CEIBS 12th Annual China Healthcare Forum 2016 held on June 18 at the Shanghai Campus. Speakers included President of China Health Insurance Research Association and Former Vice Minister of the Ministry of Human Resources and Social Security Wang Dongjin; as well as Director
of the Shanghai Municipal Commission of Health and Family Planning Wu Jinglei. CEIBS Chinese President Prof Li Mingjun gave the welcome address and Director of the CEIBS Centre for Health Care Management and Policy Prof John Cai also participated.
Faculty Shine During Accounting Summit CEIBS Associate Dean, Prof Xu Dingbo and
Prof Hwang Yuhchang were named to the North Asia Management Accounting Leaders Think Tank (CGMA 100) during the North Asia Management Accounting Leaders’ Summit held at CEIBS Beijing Campus on June 8. During the event, Prof Xu Dingbo was also chosen to be the Think Tank’s first chairman. CEIBS Vice President and Dean Ding Yuan was also among those who participated in the event.
Prof Wang Jun
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Transforming China’s Innovation CapacityThe three waves of innovation that have driven China’s epic economic transformation over the past three decades were the focus of lectures in Shanghai and Beijing on June 15 and 16, respectively, by CEIBS Professor of Strategy George S Yip and CEIBS Visiting Professor of International Business Bruce McKern. They were speaking during the launch of their new book, China’s Next Strategic Advantage: From Imitation to Innovation. The book covers findings of research work done by both professors and their team at the CEIBS Centre on China Innovation.
Innovation Forums Platform strategy, entrepreneurship and talent management were the focus of discussions at the 2016 CEIBS Innovation Forums held in Hangzhou, Xian and Changsha on April 22, May 27 and June 7 respectively. Vice Chairman of Lander Holdings Tao Chun hosted the Hangzhou event, while CEIBS Vice President and Co-Dean Prof Zhang Weijiong gave the welcome speech. Associate Professor of Management Chen Weiru gave a lecture titled “Transformation of the Platform: Self-Revolution of an Enterprise to Shine Again”. Alibaba Local Life Business Group GM Wang Lijuan,
Transfarchem Group Senior Vice President Chen Xuping and Beingmate GM Yuan Fang participated in the panel discussion. CEIBS Professor of Management Practice Gong Yan gave a lecture titled “Sharing Economy and Entrepreneurial Innovation” at the Xian event, with Xiaozhu.com Founder and COO Wang Liantao, Dakashuo.com Founder Hao Zhizhong and Dadashunfengche.com Founder Gong Tao participating in the panel discussion. In Changsha, Associate Dean (Europe) and Bayer Chair in Leadership Professor of Management Katherine Xin shared her latest research findings on the talent challenges and
organisational changes happening in China in the wake of its recent great wave of innovation. Sannuo Founder Li Shaobo, Senior Vice President of Sany Group He Dongdong, and Chairman of Panzi.cc Yang Jian participated in the panel discussion.
1st Global VR ConventionCEIBS Crowd Innovation Platform co-hosted the first Global Virtual Reality (VR) Convention at the school’s Conference Centre at the Shanghai Campus. The five-day event began on June 8.
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Marketing Conference“Marketing in the Digital World” was the theme of the 1st CEIBS Marketing Conference which brought around 120 scholars from the US and Asia to the CEIBS Shanghai Campus on June 15. They discussed the latest trends and innovations in marketing practice, and how it is being impacted by digital technology. Organised by faculty from CEIBS’ Marketing Department, the conference aims to build a platform for marketing scholars around the world to share their latest research findings and accelerate the Department’s academic development. Six papers covering diverse disciplines of marketing were selected for discussion; 21 presenters, keynote speakers and discussants from top schools in the US and Asia participated. CEIBS Assistant Professor of Marketing Lin Chen moderated.
Sustainable Energy ForumMembers of the CEIBS Alumni Automobile Association as well as alumni working in the renewable energy sector were among the attendees at the CEIBS Sustainable Energy Forum held June 2 at the Shanghai Campus. Speakers included Li Haiyan, China representative to the United Nations Framework Convention on Climate Change, President of Trina New Energy Investment Huang Longxing, CEO & Founder of Clean
Energy Assoc ia tes Andy K lump, and Marketing Director for Dong Feng Nissan’s Venucia Business Department Lin Ping.
Industry 4.0 in ChinaAre the automated, interconnected and intelligent production processes of Industry 4 .0 be ing adopted by ente rpr i ses in developed countries a step too soon for Chinese manufacturers, or a springboard that will enable them to leapfrog ahead of
their competitors? This question was the focus of a lively discussion with eight industry experts at the “In Charge of Change” Forum co-organised by the CEIBS Innovation Club and sponsor Swisslog that was held May 9 at the CEIBS Lujiazui Institute of International Finance (CLIIF). CEIBS Phil ips Chair in Strategy and International Business Professor Klaus E Meyer moderated.
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Prof Liang Neng Inducted as IACMR PresidentDirector of CEIBS Case Development Center and Professor of Management Liang Neng was inducted as IACMR President for a two-year term at the 7th Biennial International Association of Chinese Management Research (IACMR) Conference held in Hangzhou June 15 to 19. CEIBS hosted a networking cocktail reception for participants during the Conference and the school’s Vice President and Dean Ding Yuan was a panellist during the Deans Symposium. Several CEIBS faculty presented papers for discussion during the sessions. Besides Dean Ding and Prof Liang Neng, participating faculty were: Associate Professor of Management Pablo Cardona; Associate Professor of Management Chen Weiru; Professor of Organisational Behaviour and Human Resources Management Tae-Yeol Kim; Professor of Management & Michelin Chair Professor in Leadership and HR Jean Lee; Philips Chair Professor of Strategy and International Business Klaus E Meyer; Assistant Professor of Management Sebastian Schuh; and Associate Dean (Europe), Professor of Management & Bayer Chair in Leadership Katherine Xin.
Prof Rui Addresses Business GroupsCEIBS Zhongkun Group Chair in Finance Professor Oliver Rui was a much sought after speaker at corporate and media events in May. He was the invited keynote speaker at AmCham Shanghai’s monthly briefing May 3, where he spoke about the state of the Chinese economy and did a video interview. A day later he flew to Beijing where he gave a lecture to
members of the Foreign Correspondents Club of China on how internet finance and mobile banking is impacting the traditional banking industry.
LeTV Forum“LeTV Eco-sys tem: Bus iness Mode l Innovation and New Trends in Eco-system Marketing” was the title of a forum held on May 13 at the Beijing Campus. CEIBS
Associate Dean (Exec Ed) and Professor of Marketing Wang Gao as well as Assistant Professor of Marketing Lin Chen attended, along with President of LeTV Eco-system Marketing Zhang Minhui (EMBA 2010), and LeTV Eco-system Marketing National Strategy GM Li Rong.
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New Home for CEIBS eLabLeading venture capital investors, CEIBS faculty and student along with alumni entrepreneurs celebrated the new home of the CEIBS eLab on the ground floor of the Spanish Centre on the Shanghai Campus during an event June 7. Attendees from the investment world included Mytech General Partner John Yu, Strategy Consultant to Intel Maker Space & Startup Accelerator and Chairman of Shanghai WECAN Investment Co Brent Li, as well as Partner at DreamT Incubator Christina Yang. The investors heard business pitches from eLab participants who include both students and alumni from the MBA, Global EMBA and EMBA Programmes.
Faculty Visit SAIC General MotorsCE IBS f acu l t y v i s i t e d t he Sha ngha i headquarters of SAIC General Motors on April 19. CEIBS participants included Vice President & Dean Professor of Strategy Zhang Weijiong, Professor of Marketing Lydia Price, Professor of Marketing Zhou Dongsheng, and Professor of Accounting Chen Shimin. Attending on behalf of SAIC were SAIC-GM Office Director Zhou Yan, Senior Manager of the automaker’s New Energy Development department Zhang Bo, and Marketing Director of Human Resources Niu Jieling.
Football FeverCEIBS faculty got a first-hand look at China’s rapidly developing sports industry during a visit to Shanghai Greenland Shenhua Footbal l Club on May 4. Pres ident of Greenland Shenhua Wu Xiaohui (EMBA 2007) and Executive Vice President Zhou Jun welcomed the CEIBS group, and led them on a tour of the Club’s training facilities. Participating faculty were Associate Professor of Management Daniel Han Ming-Chng, Associate Professor of Management Pablo Cardona, and Associate Professor of Marketing Xiang Yi. Club spokesperson
Ma Yue, and Office Director Zhou Xin also participated.
Highly TourCEIBS Vice President and Co-Dean Prof Zhang Weijiong and EMBA Deputy Director Weldon Lai led a group of students from CEIBS programmes in Shanghai, Beijing and Shenzhen on a visit to the manufacturing and R&D divisions of Highly Group in the Pudong New Area of Shanghai on April 21.
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MBA Class of 2016 GraduatesSchool leaders encouraged the CEIBS MBA 2016 cohort to be “responsible leaders who will shape the China of tomorrow and impact the entire world” during their addresses at the Graduation Ceremony held April 23 on the Shanghai Campus. DSM China President Dr Jiang Weiming emphasised the importance of responsibility, innovation and leadership in his keynote speech.
Career Advice from Former Morgan Stanley Europe COO May Busch, former COO of Morgan Stanley Europe, was invited by the CEIBS Women’s Leadership Network to give a workshop at the Shanghai Campus on May 4. The author of the newly published book Accelerate: 9 Capabilities to Achieve Success at Any Career Stage showed students how to discover their competitive advantage in their businesses, within themselves, and by working more effectively with others. Following the workshop participants had the chance to network with members of the Shanghai branch of the Women’s Leadership Network.
Best China-Focused Case Winners The winners of the first global case competition co-organised by CEIBS, the Shanghai MBA Case Development and Sharing Platform, and the Global Platform of China Cases were announced in May. A case co-authored by CEIBS Associate Professor of Management Chen Weiru tit led “O2O Transformation in Rongchang Laundry Chain Services: Incubating an ‘e-Washing’ Platform” was one of the two final winning cases. CEIBS faculty and research staff co-authored two of the seven Nominated Award Winning Cases. They were: “KEMET’s Chinese Integration
Team (A)(B)(C)(D)” by Katherine Xin and Zhong Jin; and “Li-Ning Co Ltd: A Leading Chinese Company Stumbles” by Daniel Han Ming Chng and Zhao Ziqian. The competition aims to promote research on unique management issues in the Chinese environment from a global perspective. Almost 300 entries from institutions in 11 countries across Asia, Europe and North America were submitted.
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2016 MBA Employers HonouredNearly 30 Chinese and multinational companies were honoured for their support of CEIBS and its MBA graduates at the Employers’ Appreciation Workshop held May 25 at the Shanghai Campus. Organised by CEIBS MBA Development Centre, the event was attended by more than 120 executives from nearly 100 companies. Both long-term and new partners participated, including AB InBev, AkzoNobel, Amazon, AstraZeneca, A. T. Kearney, Bank of America Merrill Lynch, Bayer, BP, Carrefour, Corning, Disney, DuPont, Eli Lilly, Ford, Fosun, GE, Honeywell, Industrial Securities, Morgan Stanley, Microsoft, Roland Berger, Roche, Sanofi, Tencent and Uber. In addition to the awards ceremony, participants enjoyed a keynote speech titled “Inspire from Within” delivered by Chip McFarlane, Founding Director of IECL and a Master Certified Coach.
EMBA 2016 Cohort WelcomedThe opening ceremony for the CEIBS 2016 EMBA Spring Class was held on May 21 at the Shanghai Campus. Five outstanding a lumni were honoured wi th the 2016 “Zenghua” Award during the ceremony. They were: 2005 EMBA Hu Jianbo, 2007 EMBA Zhang Qiming, 2009 EMBA Long Yu, 2011 EMBA Zhang Jijun, and 2012 EMBA Ou Shufang.
Destination ManagementThe CEIBS 2016 Overseas Study Tour Series brought participants to Zurich from May 23 to 27 for a programme titled “Managing Holiday Destinations: Decoding Management and Operation of Recreational Properties in Switzerland”. Led by CEIBS Associate Dean (Europe) Professor of Management & Bayer Chair in Leadership Katherine Xin, the programme included classes at CEIBS Zurich Campus complemented by company visits
to Weisse Arena Gruppe, Grand Resort Bad Ragaz, Andermatt Holiday Region, the five star hotel Chedi Andermatt, and the Sihlcity shopping and leisure centre.
EMBAs Celebrate 5-Year ReunionMore than 200 CEIBS EMBA 2009 alumni from around the world gathered at CEIBS Shanghai Campus on May 7 for their fifth-year reunion. The event was co-organised by the Alumni Relations Office and the EMBA Programme.
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EMBA 2015 Class Leader MeetingCEIBS Chinese President Prof Li Mingjun, Vice President and Dean Prof Ding Yuan and Deputy Academic Director of the EMBA Programme Prof Su Xijia met with EMBA 2015 Class Leaders during their “Happy Heroes” Harmony: Spring and Autumn Meeting held in June in Hangzhou. The school leaders shared recent milestones in CEIBS’ development and thanked participants for their efforts. Participants also took part in a 13 km hike from Meinvfeng to Shili Langdang.
Exec Ed in AfricaFifty business executives and political leaders from Nigeria and 10 Africa-based Chinese managers from the state owned Aviation Industry Corporation of China (AVIC) attended a four-day Executive Education Programme titled “Economic Environment” in Lagos, Nigeria that began on Apri l 20. Taught by CEIBS Professor of Economics Bala Ramasamy, it is the first of four fully-funded Executive Education Open Programmes that CEIBS is offering this year as part of its corporate social responsibility initiatives in Africa.
China Africa Seminar SeriesAfrica’s role in China’s One Belt, One Road initiative and the internationalisation of Chinese companies were the focus of the first CEIBS-Tang Palace China Africa Seminar held on May 2 in Accra, Ghana. The event, which featured keynote speeches by Chinese Ambassador to Ghana Her Excellency Sun Baohong and CEIBS Vice President and Dean Professor Ding Yuan, attracted more than 100 executives f rom Ghanaian, Niger ian and Chinese companies. The Seminar Series is an initiative to enable executives in Africa to stay abreast of and discuss the latest China-Africa business themes with renowned scholars, officials, and
business leaders in various sectors.
2016 CEIBS Alumni Class Committee Meeting The 3rd CEIBS Alumni Class Committee Meet ing was he ld a t the Conference Hall on the Shanghai Campus on June 4 . Mo re t han 300 C l ass Commi t t ee representatives from over 200 classes for five programmes (MBA, EMBA, GEMBA, FMBA and Executive Education) attended. The Alumni Relations Office arranged a series of activities throughout the day to thank the representatives for their long-term contributions and support.
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Strategic Cooperation in Health Care CEIBS signed a Strategic Cooperation Memorandum with leading global medical technology company BD in a ceremony at the Shanghai Campus on June 7. The agreement will see BD cooperate with the CEIBS Centre for Healthcare Management and Policy to hold the 2016 CEIBS Hospitals’ Superintendents Salon, provide support to CEIBS MBA Medical Innovation Competitions, as well as find and support projects, teams and talents in the area of medical innovation. BD will also be actively involved in the "Qi Pu Accelerator" project launched by CEIBS and the China Healthcare Innovation Platform. CEIBS Vice President and Co-Dean Prof Zhang Weijiong and BD Senior Vice President and General Manager of Greater China Deng Jianmin each gave addresses during the ceremony.
Shanghai Science & Technology Commission CooperationCEIBS signed a Memorandum of Cooperation with the Science and Technology Commission of Shanghai Municipality on June 8 that will see both sides promote innovation and entrepreneurship through forums, talent development, and the establishment of the CEIBS Crowd Innovation Platform. CEIBS Chinese President Li Mingjun and Director of the Shanghai Science and
Technology Commission Shou Ziqi signed the Memorandum
Philips Hosts CEIBS Innovation TalkRoyal Philips hosted a CEIBS ‘Innovation Talk’ at their Amsterdam headquarters on May 30. In her address, the company’s Executive Vice President and Chief Human Resources Officer Denise Haylor noted that the relationship between CEIBS and Philips began more than
20 years ago and is still going strong. Philips is one of four Dutch multinational companies who sponsor research from the CEIBS Centre on China Innovation. Professors George Yip and Bruce McKern have collected those research findings in their new book China’s Next Strategic Advantage: From Imitation to Innovation, and they discussed them with the Philips’ executives during the Innovation Talk in Amsterdam.
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Can you still afford to ignore Asia?
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Prosperity Fund InvestmentA ceremony to mark the strategic partnership between CEIBS and the Prosperity Fund was held on CEIBS Shanghai Campus on June 7. The Prosperity Fund will establish an entrepreneurship investment special fund worth RMB50 million to invest in start-ups incubated by the CEIBS community. It will also invest RMB5 million to support the eLab’s daily operation and fund a CEIBS MBA scholarship for five consecutive years. In his address during the ceremony, Prosperity Fund President Hu Jian’gang (EMBA 2014) noted that six Prosperity Fund shareholders are CEIBS alumni. CEIBS Vice President and Co-Dean Prof Zhang Weijiong signed the partnership agreement on behalf of the school.
CSC Group InvestmentChairman and President of CSC Group Shan Xiangshuang invested RMB6 million on behalf of his company to support several research centres and programmes at CEIBS. The funds will be used to support research, teaching and events of the CEIBS Centre for Family Heritage; CEIBS China Entrepreneurial Leadership Camp; and to establish the CEIBS CNW Family Heritage Research Postdoctoral Workshop. In addition, CSC Group and CEIBS have formed a strategic partnership to create an RMB50 million venture capital
fund to invest in entrepreneurship projects incubated from members of the CEIBS community. The investment agreements were signed during a ceremony at the CEIBS eLab at the Shanghai Campus.
Hong Kong Investment ForumThe 2016 CE IBS A lumn i Hong Kong Investment Forum was held at Hong Kong Island Shangri-La Hotel on May 14. Co-hosted by CEIBS Hong Kong & Macau alumni chapter and CEIBS Maple Club, keynote speakers included CEIBS Associate
Dean, Professor of Economics and Finance Xu Bin, Vice Chairman of Chinese Financial Association of Hong Kong and Fountainhead Capital Partner and Investment Director Pu Yonghao, Morningside Venture Capital partner Richard Liu (MBA 1998), as well as President of Blackland Group and former Chairman of Asia Pacific at Warburg Pincus Sun Qiang. China Vice Chairman and Chief Investment Strategist at Goldman Sachs Group Ha Jiming shared an analysis of current macro economic and investment trends as well as entrepreneurship opportunities.
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By He Fanghong
Solutions Always Outnumber Problems~ Meet Legal Luminary Zhang Jijun
More than two decades of practicing law has
given Zhang Jijun a clear picture of exactly
what he can bring to the table. A partner
in the Zhonglun Law Firm, specialising in
non-litigation business, including corporate restructuring and
IPO, he knows his value is in solving problems. It comes as no
surprise, then, that his motto is, “Solutions always outnumber
problems; nothing is beyond your reach”.
With an already impressive track record, he proved himself
yet again at the end of last year, by leading his team to provide
legal support for the launch of China’s first state-owned REIT
(Real Estate Investment Trust). The REIT is regarded as one of
China Merchants Securities’ innovations in real estate finance.
It has created a new vehicle through which state-owned
companies can realise mixed ownership reform.
Zhang, a CEIBS EMBA 2011 graduate, is also known for
his strong support to his alma mater, having recommended
five excellent candidates to the school’s EMBA Programme so
far. He received the CEIBS Golden Torch Award in May this
year, which recognises alumni and students who have made
remarkable contributions to the school’s EMBA admissions
process.
TheLINK recently sat down with Zhang to learn what he
enjoys most about practicing law, and how he has applied what
he learned at CEIBS to his career.
TheLINK: After so many years in the business, which of the
cases that you’ve worked on has been most satisfying for you?
I had a case where two people, A and B, co-founded
a company. A then opened another company which ran a
similar business and it became a rival. B asked A to leave their
company, but A refused. There is not a good legal solution to
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linking in • alumni voice
this kind of dispute since as a shareholder A was free to decide
whether or not to sell his share; no one else could intervene.
The negotiation went on for a long time, and B consulted
many lawyers who all gave him the same answer: no one can
force A to sell his share of the company if he doesn’t want to
sell. Negotiations had been at a stalemate for two years when I
got involved. To find leverage to negotiate with A, I conducted
a thorough investigation of A’s life experience, educational
background, family life, social relationships, personality, etc…
After our due diligence, I had some idea of how to negotiate
with him. Less than two weeks later, A agreed to a compromise,
and left the company without getting any money.
This case shows very clearly that solutions always
outnumber problems. Different cases require different
solutions, and you must be attentive and diligent to find a
solution.
In another case, a company had come up against a
critical legal problem while in the middle of its listing process.
Many sponsor firms and lawyers considered it a significant
obstacle, and thought there was no way the company would
be able to list. When we took over this project, we conducted
a thorough review and research of the issues and I concluded
that the company had not violated the law, only a policy
document. From a civil law perspective, based on an analysis
of finance, the company had entered into a new form of
contractual relationship, which is legal and valid. Finally, from
an investment banking perspective, I concluded that what the
company did was common practice in the industry. If that
behaviour became forbidden, the whole industry would be
undermined.
To my pleasure, during the review of the project, the
government issued a document which confirmed the
legitimacy of the company’s conduct. This outcome confirmed
our findings, and the company was finally able to list.
TheLINK: What qualities do you think a lawyer should
possess? How did your studies at CEIBS help you improve
your business capabilities?
For a lawyer, the ability to solve a problem is
really crucial
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alumni voice • linking in
legal angle, I need to take an investment
banking perspective and perform a multi-
dimensional analysis of the company’s
finance and business situations, core
competitiveness, and industry barriers. I
don’t only answer questions pertaining to
law, but also analyse financial statements
and a company’s investment value, in
order to judge whether the company
could be listed. I can be more competitive
this way.
Where did I obtain the knowledge
that enhances my individual value? From
CEIBS professors. For me, the most
helpful professors are those in finance
and accounting, including Professors
Ding Yuan and Xu Dingbo. Their courses
benefited me a lot.
TheLINK: You were recognised as
CEIBS’ Best Recommender [of potential
students] in South China, and now
you have received the CEIBS Golden
Torch Award. What are your criteria
when recommending talented potential
students to CEIBS?
CEIBS has its own criteria for
admission, but what are my criteria?
First I expect the candidate should be a
seasoned businessperson, because CEIBS
is a sharing platform, and you must have
value and experience that will benefit
others. Value is not related to success
or failure, but refers to the worthiness
of what you can share, which is really
important.
The second criterion is integrity.
How can you tell whether one has
integrity? My way to tell is by knowing
someone’s past experiences.
Third is morality. I often heard it
said at CEIBS that the school’s clients are
for more than 20 years. This area requires
a good knowledge of law, since the clients
need solutions more than legitimacy
and compliance. They also want you
to give suggestions from a finance and
investment banking perspective. We
often encounter questions about things
like the capitalisation of expenses, share-
based payment, earnings management,
and tax planning. Thus, we need to adjust
and improve our knowledge. Studying
at CEIBS filled my knowledge gap, and
gave me the opportunity to understand
finance, corporate finance and corporate
management in a more systematic and
clear way.
Now I’m focused on corporate
restructuring and IPOs. I am often asked
by entrepreneurs, “Do you think my
business can be listed?” To be honest, I
cannot answer this question from the
In the first place, a good lawyer
should have solid, basic skills; put
yourself in the client’s place to help him
solve the problem. There’s no excuse. You
must allow your client to get to know
you and your approaches to designing a
solution for his problem. For a lawyer, the
ability to solve a problem is really crucial,
and this ability depends on your expertise
in the law.
Next comes direct ion. A law
practitioner should make a plan for the
type of law they will practice, based on
their individual traits. In my case, I am
not fond of having to have a busy social
life in order to network, and prefer to
provide services for my clients based on
my expertise and experiences. Therefore, I
am more suited to the non-litigation area.
I got my practice certificate in 1994, and
have worked in the non-litigation area
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always easily recognisable. The subtext
here is “temperament”. Appearances
are decided by one’s moral traits, and a
person of virtue must come across in a
pleasant way.
Fourth is enterprise. Only when
one is enterprising can he emit positive
energy and become a useful person in
society.
Integrity is the threshold. It is the
requirement for a person’s “height”, while
morality and enterprise are requirements
of “breadth”. I believe, with both
“height” and “breadth”, such a group
of people together are bound to create
an atmosphere of harmony, friendship,
positivity and cheerfulness.
TheLINK: What was your biggest
takeaway from CEIBS?
While at CEIBS I started to run, and
I also participated in the Gobi Desert
Challenges. This competition was so
important for me; it even led to some big
changes in my life, which can be likened
to a kind of rebirth.
I’ve been to the Gobi Desert three
times. I was on Team B in the 7th
Challenge, and led Team B in the 8th
Challenge. The Challenges taught me a
lot. Running is boring, and it’s hard to
stick to it without companions. After
I entered CEIBS, a group of Challenge
“veterans” ran together with me. Every
time I was feeling bad and wanted to give
up, they always, by hook or by crook,
encouraged me to carry on; but when I
reached a goal, they would just leave me
alone to enjoy my accomplishment. After
I returned from the Gobi Desert, I began
to enjoy running.
Recently Professor Jean Lee taught
a Leadership in Action course in the
Gobi Desert, and I was her ‘teaching
assistant’ there. Professor Lee designed
many games for our hikes, and every
game had a theoretical implication. The
first day it was about team leadership,
inspiring everyone to work together
for one unified goal; on the second day
leadership and change management was
addressed, showing everyone how to lead
a team when change happens; leadership
and conflict was discussed on the third
day, everyone was engaged in exploring
how to deal with conflicts within the
team. Every evening after the participants
returned to the campsite, the professor
and I would highlight the main ideas of
the theories, and the participants made
summaries and shared their experiences.
This teaching approach not only
improved participants’ understanding
of the theories, but also gave them
instructions both for life and career.
TheLINK: What would you like to say to
your alma mater?
“Thank you!” That’s all I want to say.
I have so many reasons to be grateful.
CEIBS is like an oasis on our lifelong
journey; everyone gathers here, taking a
rest, sharing, experiencing, summarising,
and then setting out again. In my eyes,
this oasis will be extremely important for
my entire life.
There is an old Chinese saying that
goes: I examine myself daily on three
points: whether, in transacting business
for others, I may not have been faithful;
whether, in communication with friends,
I may not have been sincere; whether I
may not have mastered and practiced the
instructions of my teacher. It basically
reminds us that if we want to improve
ourselves, we need to reflect on our
behaviour every day to see whether
they are right or wrong. With help from
CEIBS professors and classmates, we are
able to look back on and summarise our
life experiences, then come to realise what
successful experiences are worth sharing
and what lessons of failure are worth
learning. Within the CEIBS community,
supply is abundant and there is a bumper
harvest.
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linking in • alumni voice
alumni voice • linking in
By Linda Zhang, CEIBS GEMBA2001 Alumnus; “Grade Seven” Mentor for CEIBS MBA Mentoring Programme; Executive Coach; Founder, 4E Management Consulting
Creating Lifelong Ties Through Mentoring
Seven years have passed since I first began to serve
as a mentor for the CEIBS MBA Mentoring
Programme. Through dialogue and discussions
with participants on topics like career, mindset,
choices and life, I have been deeply moved by the students’
enterprising spirit and filled with a sharp sense of
responsibility.
When I think back over these seven years of mentoring,
vivid memories flit through my mind. Back when I began,
equipped with the expertise and skills for career mentoring,
I had just changed my role from a professional manager to
an executive coach. I was excited to participate and select
six mentees. With enthusiasm and great admiration for the
students, I held a heart-to-heart talk with each participant
for an hour each month. I was deeply impressed by the
differences between Chinese and foreign participants
in terms of character, cultural preference, style of
communication, life experience, and career experience.
Each autumn, mentors bid farewell to old participants
and welcome new mentees . When choos ing new
participants, I like to read through their applications.
Although we barely know each other, I am convinced we
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will hit it off if the applicants have
learned about my career experience
and file an application that tugs at my
heartstrings.
S o f a r, I h av e m e n t o r e d 2 6
participants. Since graduation, most
have moved up their career ladder and
started a family. Each year, we throw
one or two parties to share our latest
life experiences and exchange ideas
about how to quickly adapt oneself
to a new working environment, get
along with colleagues, strike a balance
between work and life in a high-
pressure, fast-paced environment,
grasp opportunities for promotion and
career progress, and maintain peace of
mind.
One participant in particular left
a deep impression on me. When we
discussed his career, he came up with
unique ideas for career paths such
as office work, consulting service or
entrepreneurship. When we probed
further down these paths, taking
lifecycle into account, he naturally
added family — a critical component
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linking in • alumni voice
— into his career planning. With a clear
blueprint in mind, he is now making
huge strides, braving the difficulties he
encounters. It gratifies me to see that
he has juggled his career and home
commitments, making his life even
more colourful than he expected seven
years ago.
I am also appreciative of another
participant who is independent-
minded and highly motivated. With
strong learning capability, she dares to
place herself in completely unfamiliar
surroundings. As she charts her own
career course, she continues tapping
into her potential to push the envelope.
I am all ears whenever she holds forth
on her recent experiences. With a ready
smile, she appears quick-witted, sure-
footed, and well-cultivated. I find in
her a maturity rare among her peers.
Over the past seven years, I have
also met some peers who are on the
same wavelength. They are my mentors,
fellow alumni and friends. Sometimes
we chat about why we decided to
participate in this mentorship project
and continue to keep at it. All of us
agree we have learnt from participants
a s m u c h a s t h e y h ave f ro m u s ,
particularly in terms of self-perception
and mentoring capabilities.
Recently, I have been thinking over
how to become an excellent mentor
for the Mentoring Programme. Is it
good timing to chat with participants
and encourage them to explore their
inner thoughts when we are both worn-
out physically and mentally? Will these
students find any enlightenment from
our advice, especially as we are judging
them through our own values and
guiding them forward from a more
experienced perspective? Do professional
mentors need to improve themselves
through learning and practice?
After thinking over these questions,
I believe the qualities of a professional
mentor are as follows:
1. Sense of responsibility :
Cast ing a s ide pre judices , the
mentor is duty-bound to encourage
participants to speak their own
mind;
2. Curiosity: Instead of boxing
himself/herself in or preaching
bl indly, the mentor should be
curious about participants’ life
experiences, career objectives,
thought pattern, and lifestyle, and
willing to spur them on to move
out of their comfort zone and make
forays into known and unknown
territory.
3. E m p a t h y : T h e m e n t o r
should put himself in participants’
shoes in order to gain deep insights
into their ideas by applying the
golden circle (Why-How-What).
4. To l e r a n ce : The mentor
s h o u l d b e o p e n - m i n d e d t o
participants’ distinctive personalities
and ready to learn from them with
humility. The shift of perspective
from the singular to the plural, from
the present to the future, and from
the subjective to the objective will
open up broader vistas for both
mentors and participants.
I h a v e b e n e f i t t e d f r o m t h e
Mentor ing Programme and have
now accumulated some experience in
career mentoring. Beginning last year,
I have written many articles on career
development and published them on
the public WeChat account “4E4U”,
in the hopes that more young people
will get ahead in their career through
contemplation, exploration, reflection,
action and accumulation.
The annual mentoring programme
is about to kick off. I hope that last year’s
participants will make some progress.
I am also excited to take up with new
mentees. Everyone follows a road of
his own, but it can be a memorable
experience to meet a mentor along the
way and forge lifelong ties.
alumni voice • linking in
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theLINK Volume 3, 2016
CEIBS MANAGEMENT COMMITTEE
Professor Pedro NUENO, European PresidentProfessor LI Mingjun, Chinese President Professor XU Dingbo, Associate Dean
Professor ZHANG Weijiong, Vice President and Co-Dean
Dr Snow Zhou, Assistant PresidentProfessor DING Yuan, Vice President and Dean
CURRENT FACULTY MEMBERS
CAI, John, PhDEconomics
CARDONA, Pablo, PhDManagement
CHANG, Vincent, PhDEntrepreneurship
CHEN, Jieping, PhDAccounting Zhongkun Group Chair of Accounting
CHEN, Shaohui, PhDManagement Practice
CHEN, Shimin, PhDAccountingZhu Xiaoming Chair in Accounting
CHEN, Weiru, PhDStrategy
CHIANG, Jeongwen, PhDMarketing
CHNG, Daniel Han Ming, PhDManagement
DAVID, Emily M.Management
DING, Yuan, PhDAccountingCathay Capital Chair in Accounting
FANG, Yue, PhDDecision Sciences
FERNANDEZ, Juan Antonio, PhDManagement
GONG, Yan, PhDEntrepreneurship
GutSAtZ, MichelMarketing
HAN, Jian, PhDManagement
HuANG, Ming, PhDFinanceLa Caixa Chair in Finance
HWANG, Yuhchang, PhDAccounting
JIANG, Jiangqing, PhDFinance
KIM, tae Yeol, PhDOrganizational Behavior and Human Resource Management
LEE, Jean S K, PhDManagementMichelin Chair in Leadership and HR
LEE, Byron, PhDManagement
LOW, Aaron H.W. PhD Finance
LI, Mingjun, PhDManagement
LIANG, Neng, PhDManagement
LIN, Chen, PhDMarketing
MEYER, Klaus E., PhDStrategy and International BusinessPhilips Chair in Strategy and International Business
Moran, Peter, PhDStrategy
NuENO, Pedro, DBAEntrepreneurshipChengwei Ventures Chair in Entrepreneurship
PARK, Hyun Young, PhDMarketing
PARK, Sam (Seung Ho), PhDStrategyParkland Chair Professor of Strategy
PRASHANtHAM, Shameen, PhDInternational Business & Strategy
PRICE, Lydia J., PhDMarketing
RAMASAMY, Bala, PhDEconomics
RIBERA, Jaume, PhDProduction and Operations ManagementPort of Barcelona Chair in Logistics
RuI, Oliver, PhDFinance and AccountingZhongkun Group Chair of Finance
SAMPLER, Jeffrey, PhDManagement
SCHuH, Sebastian, PhD Management
Su, Xijia, PhDAccounting
tSAI, terence, PhDManagement
tSAMENYI, Mathew, PhDAccounting
tSE, Kalun, PhDFinance
tSIKRIKtSIS, Nikos, PhDOperations Management
VELAMuRI, S. Ramakrishna, PhDEntrepreneurship
WANG, Gao, PhDMarketing
WANG, JingMarketing
WANG, Jun PhD Finance
WOOD, Jack Denfeld, PhDManagement
Wu, Ho-Mou, PhD Economics
Wu, JinglianEconomics Baosteel Chair in Economics
XIANG, Yi, PhDMarketing
XIN, Katherine R., PhD ManagementBayer Chair in leadership
Xu, Bin, PhDEconomics and FinanceWu Jinglian Chair in Economics
Xu, Dingbo, PhDAccountingEssilor Chair of Accounting
Xu, Xiaonian, PhDEconomics and FinanceSantander Central Hispano S.A Chair in Economics and Finance
YEuNG, Arthur, PhD Management
Yu, Fang (Frank), PhDFinance
ZHANG, Hua, PhDFinance
ZHANG, Weijiong, PhDStrategy
ZHANG, Yimin, PhDFinance
ZHANG, Yu, PhD Management
ZHAO, Xiande, PhDOperations and Supply Chain Management
ZHAO, Xinge, PhDFinance and Accounting
ZHOu, Dongsheng, PhDMarketing
ZHu, tian, PhDEconomics
ZHu, Xiaoming, PhDManagementZhongtian Chair of Management
RESEARCH CentresCase Development CenterDirector: Prof. LIANG, Neng
Centre of Chinese Private EnterprisesDirector: Prof. ZHANG, Weijiong
CEIBS Centre for Healthcare Management and PolicyDirector: Prof. CAI, John
the Euro-China Center for Leadership and ResponsibilityDirector: Prof. PRICE, Lydia
Leadership Behavioural LaboratoryDirector: Prof. LEE, Jean
China Outsourcing InstituteDirector: Prof. ZHU, Xiaoming
CEIBS Lujiazui Institute of International Finance Director: Prof. WU, Xiaoling
Center for Automotive ResearchDirector: Prof. ZHAO, Xiande
CEIBS Centre for China InnovationDirector: Prof. HAN, Jian
CEIBS-Pudong Service Economy Research CentreDirector: Prof. ZHU, Xiaoming/Prof. NUENO, Pedro
Centre for Globalization of Chinese CompaniesDirector: Prof. XIN, Katherine /Prof. MEYER, Klaus
CEIBS Research Centre for Emerging Market StudiesDirector: Prof. SAM, Park
CEIBS Centre for Family HeritageDirector: Prof. LEE, Jean/ Prof. RUI, Oliver
the Shanghai Institute of Digitalization and Internet FinanceDirector: Prof. ZHU, Xiaoming
CEIBS Centre for Arts & Cultural StudiesDirector: Prof. ZHU, Xiaoming
CEIBS-World Bank China Centre for Inclusive Finance Director: Prof. WANG, Jun
CEIBS-GLP Center of Innovation in Supply Chain and Services Director: Prof. ZHAO, Xiande
CEIBS Institute for Entrepreneurship & Innovation Director: Prof. ZHU, Xiaoming
CEIBS Shoushan Center for Wealth Management Director: Prof. RUI, Oliver
CEIBS Shanghai Research Center of Cross Broder E-CommerceDircetor: Prof. ZHU, Xiaoming
Prof. DING, Yuan (Chairman)CEIBS, PRC
Prof. CANALS, JordiIESE Business School, Spain
Prof. CREMER, Rolf D.Global Bridges China Forum, Germany
Prof. DE BEttIGNIES, Henri-ClaudeINSEAD, France
Prof. DE MEYER, ArnoudSingapore Management University, Singapore
Prof. KLAG, Michael J.The Johns Hopkins Bloomberg School of Public Health, USA
Prof. LIKIERMAN, AndrewLondon Business School, U.K.
Prof. NuENO, PedroCEIBS, PRC
Prof. PALADINO, MarceloIAE Business School, Argentina
Prof. PALEPu, KrishnaHarvard Business School, USA
Prof. QIAN, YingyiTsinghua University School of Economics and Management, PRC
Prof. RAMANANtSOA, BernardHEC Paris, France
Prof. tuRPIN, DominiqueIMD, Switzerland
Prof. ZHANG, WeijiongCEIBS, PRC