I had the opportunity to hear Jack Perkowski of JFP Holdings speak earlier this week at a Pittsburgh Venture Capital Association luncheon. He shared some fascinating observations about the Chinese business environment, many of which are captured in his book titled, "Managing the Dragon, How I'm Building a Billion-Dollar Business in China."
The following is an excerpt from one of his recent blog posts at Managing the Dragon:
Almost twenty years ago, I left Wall Street and moved to Hong Kong because I was convinced that Asia’s development would be the story of the twenty-first century, and I wanted to play a role. Due to the demographics and high growth rates in the region, I believed that companies in Asia would have a strong wind at their back, but that they would need access to capital, management and technology to take advantage of their inherent growth opportunities.
The formula for creating successful businesses and investment opportunities in China is to combine the best technology, know-how and management practices from around the world with the China market. My Wall Street experience and the time I have spent learning how to do business in China provide a unique knowledge base, set of experiences and network of contacts that are well suited to help close the technology and know-how gaps that still exist. That is the essence of what I will focus on in my second phase in China.
JFP Holdings was established in January to help global companies develop and implement their China strategies, provide infrastructure support and access to capital as required, and to assist Chinese companies to develop global footprints. We are just getting started, but we have already made significant progress. Our staff now includes a half-dozen dedicated professionals, with many others anxious to join as our business grows. We are already working with companies and organizations in some of the most promising areas for future development: environmental technology, high value-added manufacturing, services and health care.
Read the full post and find a link to purchase his book here.