When Medtronic Inc, the world's largest independent medical device company by sales, entered China in the 1990s, there were just a couple of foreign medical device companies here. But since then the relatively young medical devices industry has developed rapidly in China, with more foreign medical equipment companies getting market access and domestic companies flourishing, said Simon Li, president of Medtronic China.
Li Ping, a 24-year-old insurance graduate, eventually joined a domestic life insurance company, turning down appealing offers from two joint ventures.
For Cai Qiang, chief executive officer of American International Assurance Co Ltd (China) - the first foreign insurer to venture into the country - it is time to go "back to basics" with a focus on sustainability.
Although China has been a member of the World Trade Organization (WTO) for 10 years, the expansion of foreign investment banks in the country remains slow and joint-venture securities firms are still struggling to gain clients and a larger share of the underwriting business in the Chinese market.
Foreign banks still have plenty of room for development in the Chinese market and it is unrealistic to expect them to achieve a large market share in only 10 years, said a senior executive at the China division of Citigroup Inc.
Closer ties between Chinese banks and the international market that followed China's admission to the World Trade Organization (WTO) have increased the chances of the country's banks becoming major global players, analysts said.
The sluggish capital market is one reason why China International Capital Corporation (CICC), the country's leading investment bank, does not want to rush into overseas expansion, CICC's chairman Li Jiange told China Daily.
Urbanization occurs naturally from efforts to reduce time and expense in commuting and transportation while improving opportunities for jobs, education, housing, and transportation.
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Raymond Zhou
Op Rana
Berlin Fang
Zhu Yuan
Huang Xiangyang
Chen Weihua
