Chinese Entrepreneurs Go Global

Daniel Zhou

doi:10.22215/timreview524

Abstract

IntroductionChina has experienced strong, steady growth over the past 30 years, with its gross domestic product (GDP) increasing annually at a rate around 10% since Deng Xiaoping became leader and started to introduce economic reforms in 1990s. China is now the world’s second-largest economy and the world’s largest exporter.China’s 42 million small and medium enterprises

Highlights

IntroductionSteady growth over the past 30 years, with its gross domestic product (GDP) increasing annually at a rate around 10% since Deng Xiaoping became leader and started to introduce economic reforms in 1990s (tinyurl.com/6gv4rnu)
China has experienced strong, steady growth over the past 30 years, with its gross domestic product (GDP) increasing annually at a rate around 10% since Deng Xiaoping became leader and started to introduce economic reforms in 1990s
We examine unique characteristics of the business environment and culture in China, which are likely to impact the ability of Chinese entrepreneurs to go global

Summary

Introduction

Steady growth over the past 30 years, with its gross domestic product (GDP) increasing annually at a rate around 10% since Deng Xiaoping became leader and started to introduce economic reforms in 1990s (tinyurl.com/6gv4rnu). Over the past few decades, these SMEs have helped China successfully position itself as the “world’s factory” Many developed countries such as the United States and United Kingdom have transferred their manufacturing operations to China to gain the advantages of cost and scale of production when products are “Made in China”. The central and local governments of China have adopted a new series of policies and measures to promote the rapid launch and growth of SMEs in the global market These efforts include increasing the export tax rebate of some labor-intensive products, offering greater financial support to SMEs and providing knowledge assistance for SMEs to go global (tinyurl.com/7nwjbuz). We describe the dominance of one type of entrepreneur in China’s economy over the past few decades and argue that the other entrepreneurial type may need to play an increasingly important role for China to successfully go global. Taxation, financial and insurance policies to help Chinese enterprises ‘go global.’” These initiatives are reflected in China’s 12th Five-Year Program (2011; tinyurl.com/8xpc8k3), which includes five primary missions relating to SMEs: 1. Improve the capacity for establishing business and creating new jobs

Refine the service system of SMEs

Findings

Conclusion