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Don’t Quote Me (On Investing)

Another little gem for our noted and quoted series…

Vincent Choo, strategic alliance and new business development director of Yum! Restaurants China (of KFC fame), has had an interesting ride while investing in China. His neat analysis (as reported in the Star) is as follows:

The message, with which I fully agree, is that doing business in China may be neither comfortable nor quick – but that with a clear goal and good dose of patience, it can bring excellent results.

Equally, making a U-turn is not a good option (especially if it is down to short-term considerations), as China Inc. has a long memory. It is inclined to reward commitment…and to reject superficial or inconsistent approaches.

This was confirmed by none other than Premier Wen Jiabao, on his recent visit to the UK. At a meeting with Tony Blair (referring to the work of The 48 Group Club [1]– of which your author was recently appointed Honorary Secretary) he said:

So, take a long-term approach, do the research and planning before making (or rejecting) the entry decision and, if going in, allocate sufficient resources (without expecting an unrealistically quick return). And don’t be afraid of the odd bump along the way!

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