In Hu Jintao's China, starting a business is a dream - often a nightmare too :-) for many young people. A leading entrepreneur of Chinese entrepreneurs worldwide had this advice to give to Harvard Business School Working Knowledge readers ..: Go there now. When there, listen, observe, learn. When you are ready to do business, form a network of trusted insiders to help you get things done there! Not very straight forward way for entrepreneurship in China, is it- Even then, half of Chinese hopefuls surveyed have seriously considered starting their own businesses.
The above figure is not surprising, as Chinese in their twenties now were brought up at a time when the Chinese economy grew rapidly after being thrown open in the late 1970s. Given the wealth of opportunities, the new generation wants a piece of the economic action AND preferably by running their own businesses. Chinese women entrepreneurs make up 20 per cent of all entrepreneurs in China, with 41 per cent of them working in the private sector.
Chinese entrepreneurs worldwide say that the exposure to foreign cultures, growth in international travel, and most importantly the rise of the Internet have contributed greatly to the generation of new business ideas.
Chinese entrepreneurs worldwide returning to China to do business are called Hai gui or sea turtles just like the turtles which return to the beaches where they were born. When foreign ideas and trends are skillfully manipulated with Chinese conditions, the results are usually good. A number of hi-tech companies in China have been headed or founded by "sea turtles", such as Zhang Chaoyang, CEO, Sohu.com, an Internet portal listed on the NASDAQ. .
In 1979, when China reopened its national borders few thought of turning into turtles turning into turtles but there were a few notable ones with the most famous turtle of them Deng Xiaoping, who returned to fight for communism with Chairman Mao. According to a leading researcher of Chinese entrepreneurs worldwide , the American entrepreneur in comparison to the Chinese entrepreneur differs in terms of confidence. American entrepreneurs are characterized as confident and not overconfident which makes them opt for choices with a higher risk of ability uncertainty.
The Chinese entrepreneurs worldwide World Chinese Entrepreneurs Convention (WCEC) held biennially and initiated by the Singapore Chinese Chamber of Commerce and Industry (SCCCI), has been successfully held in Singapore, Vancouver, Malaysia, Melbourne, Nanjing, Hong Kong, Bangkok, and Seoul to facilitate global business information exchange and networking. In 2007, the ninth WCEC convention was held at Kobe Convention Center (September 15-16) and Osaka International Convention Center (September 17)
The organizer, Japan Chinese Chamber of Commerce and Industry hosted over 2,500 Chinese entrepreneurs worldwide to establish new ties and enhance economic cooperation.
For more information on China's trading strengths, log onto chinatradinghub.com
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