Creating guanxi – relationships or connections – used to be a reliable way for multinational firms to break into the China market. But foreign companies are increasingly having to re-examine the way they do business in the world’s second-largest economy.Monday, 2 December, 2013, 10:31am 2 comments
Banks have no plans to change their policy of hiring so-called princelings or other well-connected people to help grow their business on the mainland or in other emerging markets - despite the shockwaves caused by news that United States regulators are investigating JP Morgan's hirings of the children of the elite in China.16 Sep 2013 - 7:12am
It's a season of change in Hong Kong. Change what? Quietly changing jobs for some important people. The US government announced last month that it would investigate JP Morgan's Hong Kong hiring practices relating to job offers for children of some important people on the mainland, and as a result, several such "important kids" working for other foreign banks are now seriously considering new jobs.16 Sep 2013 - 7:20am 4 comments
JP Morgan Chase was caught in the spotlight yesterday after media reports suggested the bank hired sons and daughters of senior Chinese officials in the hope of winning deals from major state-owned enterprises.
The revelation of JP Morgan's hiring of the son of China Everbright Group's chairman and a former railway official's daughter comes at a sensitive time for Sino-US relations.19 Aug 2013 - 3:51pm 19 comments