Archives July 2007

Goldman’s Ong Misses China CEO Job on Language Hitch

By Cathy Chan

July 12 (Bloomberg) — Goldman Sachs Group Inc., the world’s most profitable investment bank, couldn’t name the co-head of investment banking in Asia as chief executive officer of its Beijing joint venture because his knowledge of Chinese was too weak, three bankers at the firm said.

Richard Ong, an ethnic Chinese born in Malaysia, didn’t write Chinese well enough to take a mandatory test for senior managers, said the bankers, declining to be identified as the matter is private. New York-based Goldman instead promoted Zha Xiangyang, deputy CEO of its China joint venture, Goldman Sachs Gao Hua Securities Co., in May.

Government rules requiring language skills may hurt investment banks’ efforts to attract top employees to China, the world’s fastest-growing major economy. New York-based Citigroup Inc., Morgan Stanley and JPMorgan Chase & Co. are seeking joint- venture partners in the nation, where a record $16.3 billion was raised in stock sales during the first half of 2007.

“When you start putting a language requirement on it, it dramatically reduces the pool” of talent, said George Fifield, managing director of Korn/Ferry International Consulting (Beijing) Ltd. “It’s going to diminish the quality of the team, whether it’s on the board or the senior management.”

China began requiring senior executives to take the test in 2004. Managers in place before then have until 2009 to pass the exam before losing their titles.

Stricter Enforcement

The language requirement applies to CEOs, deputy CEOs and the heads of supervisory boards at locally incorporated securities firms, according to the industry regulator. The test includes both written and verbal components.

The China Securities Regulatory Commission has stepped up enforcement since December, though it can still grant exemptions for foreign executives. The financial watchdog said Nov. 30 it would punish securities firms that appoint managers who haven’t passed the exam. The regulator wasn’t more specific.

Goldman, the world’s biggest securities firm by market value, moved Ong, 42, to Beijing from Singapore last year to head its China operations after former Asia co-head of investment banking Bill Wicker moved back to New York and Goldman China CEO Joseph Stevens quit in October to join Standard Chartered Plc, the London-based bank that makes most of its money in Asia.

Ong, who headed the Singapore office for about four years, declined to comment, as did Goldman spokesman Edward Naylor. The CSRC didn’t respond to faxed questions.

Zha, 40, is a co-founder of Chinese brokerage Gao Hua Securities Co. Gao Hua owns 67 percent of Goldman Sachs Gao Hua and Goldman controls the rest.

Goldman and UBS

Goldman is the No. 3 foreign underwriter of stock sales in China and Hong Kong this year, after Morgan Stanley, the second- biggest U.S. securities firm, and Zurich-based UBS AG, according to data compiled by Bloomberg.

Goldman and UBS, Europe’s largest bank by assets, are the only foreign investment banks licensed to underwrite domestic share sales in China, where the economy expanded at 11.1 percent in the first quarter from a year earlier. Executives at Citigroup, the biggest U.S. bank, JPMorgan, the third-largest, and Morgan Stanley have said the companies are seeking partners in China.

China’s enforcement of language testing is part of a plan to give locals increased access to top positions at securities firms. The rule sets China apart from Japan, another Asian nation where English proficiency is low.

Mark Branson, CEO of UBS’s Japanese securities venture, and Federico Sacasa, president of Aozora Bank Ltd., controlled by New York-based buyout fund Cerberus Capital Management LP, are among senior executives in the nation who don’t read or write Japanese.

UBS has mainly hired locally. Chinese executives at its venture include Chairman David Li.

“Goldman shouldn’t have appointed someone who doesn’t read or write Chinese to head its China business in the first place,” said Guo Ming, managing director of human resources consultant EAL Consulting in China.

China’s Alibaba.com names Maggie Wu new chief financial officer

BEIJING (XFN-ASIA) – Alibaba.com has appointed Maggie Wu as its new chief financial officer, a spokeswoman for the Chinese internet firm told XFN-Asia.

Wu will also join the company’s board as an executive director, the spokeswoman said.

Wu will commence duties as CFO at the end of this month.

Before joining Alibaba.com, Wu worked as a partner in audit practice at KPMG in Beijing.

Previously, Alibaba Group CFO Joseph Tsai also acted as the finance chief of Alibaba.com’s operations.

Following a recent reorganization, Alibaba.com became a wholly-owned business-to-business subsidiary of Alibaba Group that acts independently from its parent.

While Wu will take charge of Alibaba.com’s financial affairs, Tsai will remain CFO of Alibaba Group.

3Com pins hopes on China’s low labor costs

San Francisco (IDGNS) – Networking equipment vendor 3Com is counting on low labor costs in China to help the company earn better margins on its products and compete against rivals like Cisco Systems, the company’s chief executive officer said Wednesday.

“There is one large player who is enjoying 68 percent to 70 percent gross margin on its products, while others are enjoying 40 percent to 45 percent gross margins,” Edgar Masri, 3Com’s CEO and president, said in an apparent reference to Cisco.

However, the disparity in salaries between China and other countries creates an “arbitrage opportunity” for 3Com, he said.

Arbitrage is the practice of exploiting price differences between two markets. While Cisco and others rely on expensive engineering talent in the U.S. and elsewhere, Masri is betting that cheaper labor costs in China will give 3Com an advantage, allowing it to price its products 30 percent to 40 percent lower than its competition.

3Com’s strategy bears a striking resemblance to that employed by Chinese telecommunications equipment maker Huawei Technologies, which took advantage of lower costs in China to undercut its competitors and build a growing stake in the worldwide telecommunications market. Once a little-known Chinese company, Huawei is now a major player, having won deals across Asia and in Europe.

The resemblance is not an accident. In March, 3Com acquired the remaining shares in H3C Technologies, a joint venture the company set up with Huawei in 2003. As a result of that deal, 3Com acquired the 2,400 R&D engineers employed by H3C in China.

The engineers help give 3Com an advantage over its competitors, Masri said, claiming that rivals’ labor costs are up to five times higher than 3Com’s.

Should Beida recruit more recommended students?

By Zhang Xi (chinadaily.com.cn)

Peking University released its recruitment plan for postgraduates on Sunday, which raised dissatisfaction of students from other universities.

Beida plans to enroll 4,300 postgraduates and 1,400 doctorial students this year, but not all college graduates can go there by taking an entrance exam. The prestigious university will focus on recruiting those who do not need to sit exams, but instead rely on the recommendations of the colleges where they received their bachelor degrees.

The plan shows of the prospective postgraduates studying sciences, 50 to 80 percent of them will be recommended. And at least half of the new postgraduates in other departments will also be recommended to Beida. In total, the university will enroll seven percent more recommended students than last year. As a result, only a few prospective postgraduates can enter Peking University by taking entrance exams.

In the past, half of those recommended students were from Beida, and the other came from other post secondary institutions. Peking University’ s admission policy says only excellent graduates who are from prestigious universities and recommended by their colleges are entitled to enter Beida without taking postgraduate entrance examinations. However, very few students are lucky enough to get the chance.

A student at Capital Medical University is unhappy with the plan. “I think it’s very unfair!” she exclaimed. “Although Beida will enroll 4,000 postgraduates this year, only half of them will be picked by the entrance exam.” She continued, “Only one student in my class can be recommended. We just want to go to Peking University through our hard work. But how can we get in with such few chances?”

“I didn’t do well in my college entrance exam four years ago,” says Li Chen, a graduate at a university outside Beijing . “I wish to be a postgraduate in Beida by taking an examination. Can’t postgraduate students get in even if they don’t have a bachelor’s degree from a top university? It’s prejudice. All prospective postgraduates at Beida should compete in the entrance exam.”

Peking University has its reasons to recruit more students through recommendation. Through their experience, supervisors of postgraduates have found that recommended students “have higher academic levels and tend to be more devoted to studying”.

Professor Wen Rumin has worked as a postgraduate supervisor for a long time in Beida’s Chinese Department. He says, “The university is doing the right thing since some prospective postgraduates are only good at taking exams rather than academic studies.” He believes the academic levels of recommended students are higher than their counterparts who come to Beida by taking exams.

Wen did not think the recruitment policy is unfair because the most important goals of postgraduate education are guaranteeing the teaching quality and selecting qualified talent.

Other supervisors think many students come to Beida by taking the entrance exam and only want to get a degree from Beida rather than really study a subject. From this aspect, they are not as good as those recommended students, who are more welcomed by supervisors.

An educator and professor at Renmin University , Gu Haibing, said Peking University has right to decide how to recruit students. Universities and supervisors should be entitled to enroll suitable postgraduates, as long as the recruitment process is open and with essential supervision.

Senior Finance Accountant/ Finance Manager

Company Introduction:
The Company is a rapid developing technology company in China. It attracted investment from several VCs since 2005 and plans to be listed overseas in the near following years. The company is in rapid development stage and expect the candidate to help establish both sufficient control and accounting procedures, drive business development by operating plan, performance management and support new business development, as well as prepare for future IPO requirements (preliminarily planned to be listed at NASDAQ).

Reporting to: Financial Controller
Location: Beijing
Job responsibilities:
The Finance guy will work closely with the company FC or COO in setting and meeting the strategic goals of the business and supporting growth objectives. He/She will provide overall financial management through strong controllership, regulatory, treasury, tax, management reporting, planning and business analysis and development functions.
1.Develop MIS, assists in the formulation of the annual budget, reviews and analyses monthly management accounts (e.g. setting KPIs for each dept.);
2.Ensures that the company has effective financial control of operations by monitoring and overseeing the use of control systems, procedures and mechanisms;
3.Statutory reporting and tax compliance and planning;
4.Assist in the evaluation of financing proposals;
5.Liaises with banks and other financial institutions (namely commercial banks and investment banks), audit, tax and VCs;
6.Need to lead a team including accountants and cashiers.

Requirements:
1.Bachelor Degree or above, major in Finance or Accounting, ACCA/CIMA/CGA/CPA is required;
2.At least 5 years accounting and finance experience in MNC/JV, familiar with tax, internal control, AR/AP, fixed assets, cash and bank, as well as financial and management reporting, planning and business development. Big 4 or internal audit, internet/telecommunication/semiconductor company, overseas IPO, corporate finance, consulting, treasury, ERP, ABC, US GAAP/IFRS reporting experience is preferred, though not required;
3.Strong people and management skills, organizational/time management skills, negotiation and communication skills in both Chinese and English;
4.Attracted by high business growth per annum. Enjoys a challenge, responsibility and involvement in decision making;
5.Familiar with financial and accounting software tools and systems with high Level computer skills especially Excel.
6.Strong financial analysis and modeling skills.

* Please send us your complete resume (both in Chinese and in English) to:
‘topjob_fi157bj#dacare.com'(Please replace “#” with “@”)

Regional Manager, EHS and Manufacturing Technology (North Asia)

Job Description:
Company introduction:
Our client has over 70 years experience of supplying specialist chemicals to the construction industry. By concentrating on innovation and service to the customer, it now leads the way in specification selling into the construction chemicals market. This wealth of experience is gained from our worldwide presence in more than 20 countries, with exports to a further 50 countries. Their main customers are building, civil engineering and specialist contractors, served by a proactive and knowledgeable sales team. They also provide advice to architects and engineering consultants on the specification and use of the systems. They are supported by a global network of industry specialists, research laboratories and manufacturing facilities.
It is the leading supplier of high quality, cost effective systems for construction, protection and repair of concrete structures. With the development in Asia, they are welcome more talent to join in.

Report To:Regional VP
Location: Shanghai

Responsibilities:
1.To establish and maintain a culture of HSE and Manufacturing excellence across the defined geographical region.
2.Delivering measurable business value through implementation of improvement programs and application of best practice.
3.Working on behalf of the Regional VP¡¯s and through the Opco management teams.
4.Be the key conduit between the Regional business and the HSE & Manufacturing Technology function, providing both definition of requirements and practical support in delivering them.
5.HSE
-Ensure that standards are fully implemented across the region and provide verification of HSE performance to GM/VP
-Provide support and technical advice to Operating Companies in implementation of the standards
-Ensure that all relevant legislative requirements are understood and met
-Based on group standards and best practice, establish, in conjunction with Opco GM, an HSE improvement program for each Opco within the region, and ensure that the plan is embedded with the business budget
6.Manufacturing Technology
-Based on best practice, and in conjunction with the GM establish for each Opco in the region a Manufacturing Improvement Program, signed off by GM and incorporated into the budget. Program to deliver measurable benefits according to the needs of the Business
-Co-ordinate and provide feedback to HSE and Manufacturing Technology team for necessary initiatives and definition of best practice
– Co-ordinate and ensure implementation of specific HSE and Manufacturing Technology initiatives defined centrally
– Working with the group to produce modular designed plants for Powder, admixture etc.
– Scanning and evaluating the latest technology in manufacturing to raise standards and meet future needs.
7.Competency Management and Organisational Framework
-Based on defined competency framework, evaluate level of competency in all Opcos and advise GMs and VP¡¯s accordingly
-Establish with the local OPCO a program of improvement and competence development
-Establish with the local OPCO the optimum organisational model for HSE and manufacturing.

8.Resource Management
-In conjunction with GMs, analysis and define resource requirements across the region to deliver the agreed improvement programs
-Co-ordinate all demands for additional specialist support and agree priorities and commitments with GM HSE and Manufacturing Technology.

Requirements:
1.Degree in engineering or similar technical discipline from a recognized university.
2.Experience in batch manufacturing. 10+ years experience in HSE, Manufacturing, Operational Management, Process Engineering, Project management.
3.Outperformed sales skills and very strong capability in potential partners define.
4.Exposure to transport/logistics operations.
5.High energy and drive, with the ability to work in different cultures and at different levels in the organization.
6.Ability to rationalise the needs of different stakeholders, and where necessary take an independent stance.
7.Ability in second or more languages. Fluent in English.
8.Good understanding of business drivers, ability to ensure delivery of business value
9.Experience of living in different countries

* Please send us your complete resume (both in Chinese and in English) to:
‘topjob_eo111sh#dacare.com'(Please replace “#” with “@”)

Project Manager (Greater China)

Company introduction:
Our client has over 70 years experience of supplying specialist chemicals to the construction industry. By concentrating on innovation and service to the customer, it now leads the way in specification selling into the construction chemicals market. This wealth of experience is gained from our worldwide presence in more than 20 countries, with exports to a further 50 countries. Their main customers are building, civil engineering and specialist contractors, served by a proactive and knowledgeable sales team. They also provide advice to architects and engineering consultants on the specification and use of the systems. They are supported by a global network of industry specialists, research laboratories and manufacturing facilities.
It is the leading supplier of high quality, cost effective systems for construction, protection and repair of concrete structures. With the development in Asia, they are welcome more talent to join in.

Report To: GM, Greater China
Location: Guangzhou, & various places in China
Responsibilities:
1.To oversee the group¡¯s expansion plan in China.
2.To increase manufacturing locations and facilities throughout China.
3.To ensure all projects proceed in a professional manner from inception through to feasibility study, procurement, implementation and commissioning.
4.Manage the whole process in accordance with the group capital project system ensuring time completion within budget and to required quality standards.
5.Managing the CPS, co-ordinating the design process ¨C both mechanical and civil engineering aspect.
6.Feasibility study. Procurement of goods and services.
7.Cost Control.
8.Implementing programs and projects on time and on budget.
9.Using professional concepts in creative ways in working on assignments.
10.Working with both leadership and hourly production to ensure capital projects and other improvements are both cost and resource efficient.
11.Collecting, analyzing, and presenting Engineering data to evaluate projects. Solves complex problems with in-depth evaluation of a variety of factors.
12.Manageming projects from conception to completion or project portions as assigned.
13.Setting clear goals and leading a team to achieve those goals

Requirements:
1. 15 years project management experience
2. Leadership ability in multi-disciplinary team
3. English and Mandarin ¨C Both written and spoken.
4. HSC ¨C Compliance in HSSE
5. Ensure completion, timely and commitment.
6. Excellent skills on MS office applications

* Please send us your complete resume (both in Chinese and in English) to:
‘topjob_oth043gz#dacare.com'(Please replace “#” with “@”)

UK’s tech firms turn to India, China to overcome skill crunch

NEW DELHI: Engineering and technology firms in the United Kingdom are turning to India, China and South Africa to fulfill their skills requirement, a latest survey has said.

In the UK, 48 per cent of the companies in the sector have recruited people from overseas in the last 12 months to cover specific skills shortages, a survey by Institution of Engineering and Technology said, indicating a major chunk of this was carried out in India, China and South Africa.

UK firms are turning to countries such as India, China and South Africa to plug the skills gap,” it said.

The survey cautioned that the skill shortage is unlikely to improve in the short or medium term. This is likely to drive the companies to countries like India where cheap labour is available.

Proportion of companies that are expected to face difficulties in recruiting adequate qualified engineers, technicians or technologists over the next four years had risen to 51.8 per cent in 2007 from 40.2 per cent in 2006, said the survey, which took into account 500 respondents.

“The engineering and technology sector is vital to the future prosperity of the UK’s economy and an increase in skill shortages puts the future growth, success and competitive advantage of many businesses into serious doubt.

“The UK desperately needs to increase the pool of engineers and technicians to meet the demand,” IET Director of Professional Operations Paul Jackson said.

The IET survey builds on information from 2006 and shows that although sector is growing, only 56 per cent of respondents believed they would be able to recruit enough people into engineering and technical roles this year.

The survey also found more than 70 per cent of companies in the UK are struggling to recruit experienced or mid career level staff, which could threaten growth and competitiveness.

It revealed that recruitment of women in the UK has remained static with just seven per cent of the engineering and technology workforce represented by the fairer sex.

The proportion of women in the sector would remain the same for the coming next four years as well, IET projected.

IET provides a global knowledge network to facilitate the exchange of knowledge and ideas and promotes the positive role of science, engineering and technology in the world.

Jobless youth and parents in test case

THE city’s first career-training program for jobless young people and their parents is open for business in Wujiaochang area of Yangpu District.

Officials said yesterday the free initiative will target unemployed people under the age of 30 and their parents to offer them up-to-date job-seeking information and teach them application skills on a monthly basis.

“Different from ordinary career consultation for young people, this program is designed to inform parents about the latest job-market developments and encourage parents to help solve their children’s unemployment problems,” said Shen Lixia, a community official and the program initiator.

Shen said that the idea of parent education came after she found out how important a role that Chinese parents play in their children’s job-seeking process.

At a job fair that the community held earlier this year, about 30 percent of young unemployed people had their parents looking for positions and talking with recruiters instead of themselves.

Parents of a 28-year-old woman, who had just found a supermarket cashier’s job after five years of unemployment, even complained that the position was too hard for their daughter.

And some parents nag their jobless children daily, comparing them unfavorably with their peers.

Wang Meiping, a professional career consultant at the Hongkou District Job Placement Center, said they can understand parents trying to protect their only child.

“But excessive intervention or blame can hurt children’s confidence and hamper their job seeking,” said Wang, who was invited to give the first lecture to more than 20 young people and their parents on Sunday.

Program officials will keep track of attendees and expand the program.

Nottingham Business Development Limited Representative office in China

The specific tasks that the post holder will have to undertake as part of the Business Development Executive role will include:

•Develop market knowledge of Ningbo business, and especially in sectors where the UNNC, Nottingham and the East Midlands have a clear strength, including:
Environmental technology 
Construction / Property
Transport 
Banking and Finance
Healthcare (Biotech) 
Food and drink
•Support the partners to develop strategies in order to successfully target business opportunities in Ningbo and the wider Zhejiang Province.
•Identify specific business opportunities and advise partners.
•Build relationships with targeted Ningbo businesses to facilitate economic cooperation.
•Maintain a database of business contacts.
•Support visits by key Chinese decision-makers when appropriate.
•To identify formal or informal barriers to market access for key sectors, so that action to overcome them can more readily be taken by the relevant authorities.
•To facilitate business development by providing support for business visits ¨C through making introductions, arranging programmes, providing briefing material and making available space for meetings.
•Help UNNC to identify internship / career placement opportunities for its graduates.
•Promote Nottingham generally to the Ningbo business community e.g. by supporting events such as involvement on trade fairs.
•Support business matching where appropriate.
•Support Nottingham¡¯s involvement in technology transfer networks in China.
•Help to promote Chinese investment in Nottingham.
•Manage office and supervise another member of staff based in Ningbo.

Requirement
1.The following is a list of essential experience, skills and personal attributes:
2.Experience of working in an international business environment.
3.Excellent knowledge of businesses in the Zhejiang province (in particular the Ningbo area).
4.Proactive approach to work.
5.Networking and interpersonal skills.
6.Time management and organisational skills.
7.Business acumen and experience.
8.Creativity / diplomacy and tact.
9.Bi-lingual (Mandarin/English).
10.Written English.

Desirable
The following are some additional, desirable requirements:
•Knowledge of key sectors and associated companies in Ningbo.
•Full driving licence.

* Please send us your complete resume (both in Chinese and in English) to:
‘topjob_eo110nb#dacare.com'(Please replace “#” with “@”)