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Today Shanghai accounting service are being offered on the internet. Finding a US-based company that tackles all the chief sections of accounts is very easy now. Numerous accountancy firms have big e-commerce websites too that display the range of tasks they offer. These firms can help your small business manage its work well. If you...Read more
More Chinese companies are stepping on to the global stage as they focus oninnovation and overseas acquisitions to boost competitiveness, experts said. As China transforms, more companies are moving up the value chain to build their brandsrather than emulating other business models or products, according to Zhang Yansheng,secretary general of the Academic Committee of the National Development and ReformCommission (NDRC). "Gone are the days when speed and size matter more," said Zhang. A report released by Boston Consulting Group (BCG) this week lists 100 companies that arebelieved to be "global challengers." Of the total, 28 come from China. "Chinese companies are the largest block on this list, so by the sheer size of the position, theywill have more impact than anyone else," according to Dinesh Khanna, coauthor and leader ofBCG Global Advantage Among the listed Chinese companies are Alibaba, Tencent, Dalian Wanda, Xiaomi, Geely,Haier, Trina Solar and Zoomlion. "Ten years ago, the global challenger list was dominated by industrial goods and resourcescompanies competing on cost. Today's many challengers are appealing to middle-classconsumers in emerging markets and elsewhere," said Michael Meyer, a coauthor and partnerbased in Singapore. Facing dwindling external demand, many Chinese companies are tapping into the growingdomestic purchasing power. Liu Changwen, a manager with Haier, said the home appliance maker has set up a platformto explore customer demands with a view to develop customized products. These companies have also embarked on mergers and acquisitions (M&A) to expand scale,explore new markets or enhance technical prowess, the report noted. In the first quarter, companies on the Chinese mainland struck 115 overseas M&A deals, witha combined value of $82.6 billion, according to international accounting firm PwC. Thequarterly value exceeded earlier yearly records, it added. Li Ming, a partner with PwC, said that Chinese companies see overseas acquisitions as away to boost global competitiveness and expand overseas. At the beginning of 2016, Haier announced it would buy the household appliances departmentof General Electric for $5.4 billion. In December last year, Zoomlion, the leading construction machinery producer, agreed to buya 57 percent stake in Italy's waste-disposal company Ladurner. Sun Changjun, vice president of Zoomlion, said the company has expanded its business tomajor countries along the Silk Road Economic Belt and Maritime Silk Road. "We have recruited more local staff to help us better understand local culture and market,"said Sun. -------------------------------------------------------- Elite Stage is a platform that provides One-stop business Solution for start-ups and foreign enterprises, founded by Venture Capital and Elite Stage Consulting Company, individual Lawyer Partners and Deloitte Auditors. For over 8 years, Elite Stage successfully assisted more than 800 companies from all over the world with their China market entry....Read more
China may launch a trial scheme soon that would allow Chinese individuals in the Shanghai Free TRADE Zone to invest in overseas markets directly for the first time, two sources with direct knowledge of the matter said yesterday. The programme, known as the Qualified Domestic Individual INVESTOR programme, or QDII2, is among measures jointly proposed...Read more