Quotable
"Instead of the big, trustworthy brands that many companies have used to good advantage up until now, more diverse portfolios of brands and niche products will be advisable."
Max Magni, partner and head of McKinsey's Greater China consumer practice, commenting the 2012 annual report of Chinese consumers released by Mckinsey & Co that said a group of new mainstream customers is emerging in China.
"With their growing awareness of European assets, Chinese bidders are likely to become more common in the future. Britain-based asset holders should therefore be seriously considering China as a means of achieving full or partial exits from their investments."
Allan Zhang
, a director at PricewaterhouseCoopers who advises on outbound deals from China, saying that some Chinese investors believe that uncertainties in the eurozone have improved their chances of striking good deals with debt-ridden European companies."The sustained downturn in the global economy and the rise of international trade protectionism have resulted in a gloomier business prospect for China."
Ed Nusbaum, CEO of Grant Thornton International, commenting on a survey by Grant Thornton LLP that says Chinese businesses' views about various economic issues became significantly more pessimistic in the third quarter.
(China Daily 11/02/2012 page14)
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