While Boards in the West have been preoccupied with Brexit, the unexpected Trump victory and increased anti-business sentiment, China continues to be a major driver of global growth and is expected to become the largest economy in the world by 2020.
Through Search and Development Fidelio has a clear focus on building Boards fit for the future. It is evident that an understanding of China is essential for Boards with international ambition, all the more so given the rise of nationalist, anti-global sentiment in Europe and the US.
Fidelio was delighted to host a Board breakfast on Tuesday 4th July with Gordon Orr, former Managing Partner and Head of Asia McKinsey, and Non-Executive Member, Lenovo and Swire Pacific on the theme of “Boards, Strategy and China”.
In a broad ranging discussion, drawing on his McKinsey heritage and current Board experience for leading Chinese/Hong Kong companies, Gordon tackled both inward investment into China and international expansion by Chinese companies. We also explored sectors from automotive to Financial Services; and luxury goods to semiconductors.
Over breakfast a number of key points emerged, including:
- China remains very distinct from Europe and Board Directors do well to understand the culture and structures of this phenomenally important market
- Substantial business in China may well be transacted outside the Boardroom – with trust playing a critical role
- China is set to dominate in key sectors, including electric vehicles and energy
- A more risk averse Western market would do well to learn from the entrepreneurial dynamism that characterises Chinese growth
Fidelio’s focus is building Boards fit for the future. We do this through Search, Development and Evaluation on an international basis.
China clearly plays an important future role for many Western companies. If you are looking to strengthen the ability of your Board/leadership team to engage effectively with the Chinese market, get in touch via firstname.lastname@example.org or +44 (0)207 759 2200.