A Feather in the China Business Cap (Part 1)
DuPont is a name to reckon with even beyond the confines of China business. This American Idol of private enterprise has straddled multiple science and technology frontiers for decades. Aggressive Research and Development has been contoured by conservative business management principles, so that this corporation has rarely been first off the blocks in addressing emerging market opportunities.
Bio-diversity is amongst the sterling qualities of China business. Many other economies have developed industries and services at the costs of agriculture, but China business has never abandoned its ancient roots in its fertile home soil. The vast land mass encompasses almost all kinds of ecological habitats other than the completely tropical. China business and the country’s government work hand-in-hand to conserve their natural plant and animal wealth.
The joint venture between DuPont and the Weiming Kaituo Agriculture Biotechnology Company in Beijing is significant for all China business. Earlier collaborations between US corporations and China business have related mostly to exploiting cheap labor conditions, whereas the DuPont deal seeks to use cutting-edge genetic technology to leverage natural assets for mutual advantages. Hopefully, this deal is a bell-weather sign for the future evolution of China business! Specifically, it has tremendous potential for the global biotechnology sector.
Sustained and Natural Strengths of China Business
All countries have natural wealth, and there are indeed other countries to compete with China business in terms of biodiversity. However, two factors set the Beijing domain apart: a versatile bank of human resources, and comprehensive government support. Research & Development is not all about laboratories and scientists. Field collections, rapid testing, sourcing, and consumer panels, are allied resources that have vital roles in bringing new discoveries to market. China business is supported by vast higher education resources. Paucity of skilled and committed people hinders international biotechnology ventures, but China business is poised to collaborate with global partners in this respect.
Bureaucrats and politicians can be major impediments in some affiliates or subsidiaries of international corporations, but again China business scores on this front. Beijing as well as the Provincial Governments is fine-tuned to the China business needs for foreign technology and capital. Companies such as DuPont find it comparatively easy to structure, plan, and to execute their long term investment plans in this nation. Some people, who are unfamiliar with China business norms, may be apprehensive about pervasive red-tape and regulations here, but the reality is that this is one of the most rapidly productive territories for business development.
A Feather in the China Business Cap (Part 2)