The 21st century has been described as “China’s century” and it is not hard to understand why. Since Deng Xiaoping initiated a program of path-breaking economic reform in 1978, China has experienced the most rapid modernization of any society in recent times. Companies are queuing up to invest in China, lured by the prospect of competitive labor costs and vast market potential. No fewer than 400 of the Fortune 500 companies have already invested in China. But making profits in China is still a harder task than many expect. Making money in China requires a strategy that is specifically tailored to the growth dynamics of the Chinese market and the risks and constraints stemming from its unique business culture and operating environment.
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