Turkish entrepreneur sees positive effects of reforms

ISTANBUL - For Turkish businessman Murat Kolbasi, China's reform and opening-up policy has brought not only dramatic changes to China itself, but also huge profits to foreign companies doing business with China - just like his.

Founded in 1966, Arzum is a major Turkish maker of electrical home appliances. Currently, it annually produces 3.5 million units of six types of electrical home appliances, 25 percent of which are now manufactured in China. Arzum boasts annual imports of about $30 million in goods, much of which is from China.

In the early 1990s, the main focus of Arzum's business was on exporting to Europe, but he faced great pressure from Chinese companies, which offered cheaper prices.