Beijing, August 19, 2008 | As the experts’ evaluation for the third annual Most Globally Competitive Chinese Companies Awards 2008 (GCC 2008) jointly held by Roland Berger Strategy Consultants and Global Entrepreneur Journal is under way, members of the jury are voicing their opinions on the nominees.
Xiang Bing, President of Cheung Kong Graduate Business School spoke highly of Baosteel: “With the escalating steel price today and successful global resource consolidation of Mittal Steel and Tata Group, we are expecting more of Baosteel. Being a steel giant in China, Baosteel is ready for further development. Vision and thought may give it the power to overturn the industry of the future. Baosteel’s challenge is not only to maintain its leadership in China, but more importantly, to vie with other steel giants in the global market. I hope that Baosteel will become another Mittal.”
Xiang also confirmed the performance of Suntech: “As for environmental protection and renewable energy, third-generation enterprises and entrepreneurs have emerged in China. Suntech, a representative of them, features global resource consolidation. Its core technologies and team are from all over the world, most funding and 80 percent of sales come from abroad, and its business is managed by international standard. We hope that more Chinese enterprises will discuss how to respond to globalization by the new Westernization thinking.”
Another two experts — Michael Barbalas, President of the American Chamber of Commerce- China, and Shen Nanpeng, Founding Partner of Sequoia Capital China, praised Huawei and Lenovo, two leading Chinese enterprises that are going global.
“Huawei has shifted its focus to R&D, marketing and service, and established a global organization. Over the past years, Huawei has become a leading wireless communication equipment manufacturer with the fastest-growing sales in the world. It never hesitates about reshuffling or divesting non-core businesses, and is aware of the importance of R&D investment in the value chain and brand-building in sales. Within ten years, Huawei has grown from a medium-sized business to a leading telecom equipment manufacturer worldwide.” said Michael Barbalas. | “Lenovo has been growing fast in recent years. After acquiring IBM’s PC business, it began brand consolidation, a bold attempt in the fierce competition and the changing industrial age. By sponsoring Olympic Winter Games and Summer Games, it is highly recognized as a global brand. It also keeps investing in product R&D and innovation. Today, Lenovo is a global enterprise with capabilities of independent R&D, production and operation.” commented Shen Nanpeng.
The jury of GCC 2008 is composed of overseas scholars, business leaders, leading Chinese economists and senior executives of multinationals. The 50 nominees are evaluated along three dimensions and their performance assessed based on eight criteria. Analysts look at operating performance, sustainable competitiveness and international corporate culture in a first step, before rating factors including overall operating performance, overseas business development, production and purchasing management, global marketing, international human resource, the development of science and technology innovation, brand building, and cross-cultural adaptation.
The Top 20 winner list and three special award winners (“Best in Europe”, “Best in United States”, “Best in Emerging Markets”) will be announced at a gala event in October, 2008 in Beijing. |
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