China CEO II
Voices of Experience from 25 Top Executives Leading MNCs in China

Straight from the China CEO: Advice on leading operations in the world?s fastest-moving, highest stakes market. 25 top executives leading high-profile multinational companies in China, as well as seasoned and respected China-based consultants, give their front-line advice on succeeding in this market.

Soaring spending power among the world?s largest consumer population, radical digital transformation creating a cash-less, ?always on? society, severe generation gaps ? these are just some of the factors which have completely transformed China since 2006, the year when the first volume of China CEO was published. And these are three of the main reasons the authors have again teamed up to put together this second volume ? collecting entirely new content via in-depth, exclusive interviews with the heads of 25 high-profile CEOs of multinational companies in China, as well as a number of highly respected consultants who have built their careers by delivering advice on succeeding in the market.

In this book, CEOs and experts share their strategies for overcoming the most pressing issues faced by business leaders in China now, including: fierce competition from strong, globalized Chinese companies; working with the powerful, complex Chinese government; and successfully attracting the nation?s wealthy but fickle and tech-savvy domestic consumers. Top executives and consultants also divulge their secrets for keeping up with China?s astoundingly broad and rapid digital transformation in which the nation is now leading the world in mobile payment, online shopping, social media, Artificial Intelligence, and facial and voice recognition. They also discuss trends including localization of top positions in China, the rise of female top executives in the country and the challenge of attracting the nation?s highly international, purpose driven millennials.

• Hear directly from the China CEOs of: ABB, AB InBev, Bayer, Bosch, Carrefour, Coca-Cola, IKEA, Korn Ferry, Lego, L?Oreal, NIIT, Mango, Manulife, Marriott, Maserati, Microsoft, Philips, Scania, SAP, Sony, Standard Chartered, Tata, Udacity, Victoria?s Secret (Lbrands Int?l), Volvo, etc.
• Learn from seasoned China experts at McKinsey & Co, Economist Group, and more
• Written in a practical, easy-to-read format ideal for busy professionals, educators, and students

China CEO II: Voices of Experience from 25 Top Executives Leading MNCs in China is an invaluable resource for any professionals seeking to work in or with China, or executives expanding their responsibilities in China, and those involved in international business, finance or executive programmes.

Foreword xi

Chapter 1: Why China CEO II ? 1

China’s Boom Since 2006 3

Who’s in China CEO II ? 6

Front-Line CEO Analysis: China Then and Now 10

Chapter 2: Prerequisites for China CEOs 15

Must-Have Qualities for Foreign CEOs in China 17

Foreign Managers’ Top Mistakes in China 29

Shifting from Foreign to Local CEOs 32

Qualities Needed for Today’s China CEOs (Either Foreign or Chinese Nationals) 42

Summary of Tips 51

Chapter 3: China’s Changing Talent Pool 53

Chinese Professional Women: Holding Up Half the C-Suite 60

Meet China’s Millennials 67

Strengths and Weaknesses of China’s Talent Pool 72

HR Strategies 80

Summary of Tips 93

Chapter 4: China’s Digital Revolution 95

The Rise of China’s Digital Champions 105

Where Digital China Dominates 111

Navigating China’s Digitized Landscape 118

Digital Strategies 124

Summary of Tips 130

Chapter 5: The Transformation of Chinese Consumers 131

Profile of Today’s Chinese Consumer 142

Strategies for Winning Chinese Consumers 163

Summary of Tips 170

Chapter 6: Competing in China 171

Why Multinational Corporations in China Have Lost Ground 173

Why Chinese Players Have Gained Ground 182

Strategies for Facing Chinese Competitors 192

Summary of Tips 201

Chapter 7: Managing Relations with Chinese Government and Foreign Headquarters 203

Part I: Managing with the Chinese Government 204

Government Relations Challenges 210

Government Relations Strategies and Solutions 226

Part II. Managing Relations with Headquarters 230

Success Factors for China Leadership’s HQ Relations 232

Communicating with Headquarters 236

Summary of Tips: Strategies for Government Relations 241

Summary of Tips: Strategies for HQ Relations 241

Chapter 8: Living in China 243

Non-Work Challenges for the Foreign Manager 245

Potential Problems for the Foreign Family 247

“Next-Pats” in China 250

Positive Aspects of Life in China 252

Strategies for Adapting to China 255

Summary of Tips 260

Chapter 9: The Future of MNCs in China 261

China’s Economic Outlook 263

The Changing Role of International Companies in China 267

About the Authors 271

JUAN ANTONIO FERNANDEZ is Professor of Management, Associate Dean and Director of MBA Programme at China Europe International Business School (CEIBS), which ranked 5th in the Financial Times Global MBA Ranking 2019. He has 20 years of experience in China and has co-authored six books.

LAURIE UNDERWOOD is a Senior Associate Professor of Management (adjunct) with the Xi'an Jiaotong-Liverpool University's International Business School Suzhou and a senior consultant with Sino Associates. Her current areas of research, consulting, and teaching expertise include intercultural business communications, corporate communications, relationship marketing, and technology-assisted communications. She has 20 years of experience in Greater China and has co-authored three books.