Archives 2007

An International Leading Industrial Real Estate Company Seeking a Project Manager (North)

Company Introduction:
Our client is a leading industrial real estate company in the world.

Location: Beijing
Department: Development
Major Responsibilities:
• Site construction management for construction quality progress and cost control;
• Pre-acquisition (land and pre-existing real estate) and pre-construction due diligence;
• Project construction filing and as-built documentation;
• Communication and coordination with local authorities, design approvals and construction permits;
• Administration of site meetings and project reporting to the line manager;
• Management of consulting firms (Jianli, project management or QS firm) etc;
• Site control for health and safety.
Requirements:
• University education background (with bachelor of engineering), in majors of civil, electrical, HVAC or plumbing engineering;
• Minimum 6 years experience in construction project management; Minimum 3 years experience with foreign invested companies;
• Good knowledge of construction contract management;
• Good inter-person communication skill and management skills;
• Good at construction site controlling and administrating site meetings;
• Good knowledge about FIDIC construction contract;
• Good command of PC and Microsoft Office;
• Good command of English;
• Willing to travel very frequently;
• Sense of Urgency;
• Detail-oriented;
• Commitment to thorough follow-up on outstanding items.
Salary Range: Negotiable, based on experience and capabilities

* Please send us your complete resume (both in Chinese and in English) to:
‘topjob_mn177bj#dacare.com'(Please replace “#” with “@”)

BOB to open IPO subscription to retail investors

THE Bank of Beijing said today it will open subscriptions to retail investors next Tuesday (September 11) for its initial public offering of 1.2 billion A-shares in Shanghai.

The third to-be-listed Chinese city commercial lender will sell up to 840 million shares, or 70 percent of the offering, to retail investors. The remaining 360 million shares, or 30 percent of the offering, will be sold to institutional investors, the Beijing-based bank said in a statement to the Shanghai Stock Exchange today.

Institutional investors can subscribe to the shares during the two-day period ending next Tuesday.

The bank will announce a price range next Monday and post the final price next Wednesday.

“The bank is among the top 15 players among the country’s 110-plus city commercial banks,” said Qiu Zhicheng, a Haitong Securities Co analyst.

The bank said in the prospectus yesterday that it will conduct an H-share IPO at an appropriate time after completing the A-share sale, without giving a timetable or sale scale.

Any sale of H-shares would need approval for existing shareholders.

The lender gained approval from the China Securities Regulatory Commission for the Shanghai share sale at the end of August. The listed shareholders of the lender, including Tongfang Co and UFSoft Co, all surged on the bank’s announcement it would go public.

Citic Securities Co and its affiliate, China Securities Co, are the lead underwriters for Bank of Beijing’s A-share listing. Shanghai-listed Citic Securities holds a 60 percent stake in China Securities.

Bank of Ningbo and Bank of Nanjing -became China’s first two listed city banks early last month. The two banks listed on July 19, after raising a combined 11.07 billion yuan (US$1.47 billion).

An Leading International Investment Bank Seeking Team Assistant/Project Assitant,Urgently

Company Introduction:. One of the top Foreign Investment Bank

Location: Beijing
Job responsibilities:
Summary:
This is a temporary to permanent opening in the company of a top foreign investment bank£¨Permanent offer may also be considered £©. The successful candidate will support the different team of the firm depands on the candidate¡¯s experience and capabilities, which including the Chairman Office, divisions, and professionals.
Responsibilities:
1. Provide general secretarial and administrative support to the whole team
2. Calendar management
3. Scheduling, updating travel arrangements and visas application
4. Preparing Travel and Expense reports
5. Answering phone calls, receiving and redirecting clients and visitors
6. Maintaining time management system, filing system
7. Co-coordinating meetings with clients¡¯ office
8. Support visiting bankers
9. Various administrative tasks or ad hoc tasks

Requirements:
1. Hardworking, good judgment, flexible and driven to work in a fast paced, challenging environment
2. Excellent attention to detail, proactive and efficient with the proven ability to take initiative
3. Ability to multi-task and ability to cope with high pressure
4. Highly organized and able to manage conflicting priorities
5. Non-political team player who can work and contribute in a team environment to achieve goals
6. Responsible and responsive
7. 3 years experience as a senior or executive assistant
8. Experienced in Microsoft Office: Outlook, Word, Excel, PowerPoint
9. Good telephone manner
10. Able to handle confidential information appropriately
11. Fluency in written and spoken English required
Salary Range: Negotiable, based on experience and capabilities

* Please send us your complete resume (both in Chinese and in English) to:
‘topjob_mn176bj#dacare.com'(Please replace “#” with “@”)

Investing China: Risks, opportunities, incentives

What are the risks attached to investing from abroad into China? What are the best ways to minimise these risks?

Risks are high in doing business in China because anything can happen, including political revolution, financial crisis, labour uproar, etc. However, the general return is high too – China is one of the fastest-growing markets with an annual growth rate approaching 10% in the past 10 consecutive quarters.

The key to success in China is to fully realise the risks and have a flexible action plan to minimise them. The following are, in my opinion, the most critical risks that may have a direct impact on foreign investment in China.

Undeveloped credit infrastructure

A common complaint of foreign companies doing business in China, or with Chinese companies, is about the difficulty of collecting full payment on time. China does not have a credit infrastructure that provides systematic and reliable resources to the credit history of companies and individuals.

Foreign companies should do good due diligence to minimise exposure to the risk of default on payment. It is worth investing time and money on extensive research and retaining a reliable third-party expert to find reputable partners and confirm the creditworthiness of partners or primary customers.

In addition, companies should pay close attention to the terms of payments and performance standards in contracts and verify the authority of Chinese people involved in negotiating and concluding these contracts. Make sure that contracts do not include provisions that violate Chinese law, even though the Chinese parties may promise not to enforce laws or regulations, and do not accept provisions that are beyond your control, such as visas for visits to your company in Europe or the US.

Poor legal environment

The existing Chinese legal system does not provide adequate and effective protection. The application of laws is inconsistent in different provinces and cities, and court verdicts are difficult to enforce. Cost of litigation is high, and penalties are low. Contracts are not fully respected and difficult to enforce. Bear in mind that the conclusion of a contract is just the beginning of real negotiation.

Verify the authority of the people you negotiate with and the ownership, permits, permissions, license and qualifications they claim that they have through independent sources. Find your own legal counsel and draft contracts in clear terms.

Do not rely on oral promises of business partners and government officials on local subsidies, incentives or special considerations that are not based on solid legal ground. Even if you have them in writing, you should treat these incentives as ways to augment profit (instead of counting on them to create profit) because they may be taken away at any time.

Lack of electric power supply

In recent years, more than two-thirds of China’s provinces and municipalities have experienced chronic power shortages, with the most serious in the high-density industrial areas along the east coast.

In response, the Chinese government has approved several dozen new power plant projects, which are expected to add fresh capacity of about 35 million kilowatts, to come online in 2006 and 2007. However, there are concerns about the viability and sufficiency of such projects, because most of the approved new facilities are located in central China and it is in doubt whether the poor regional grid infrastructure can adequately transfer the added power to high-demand areas long the east coast.

Furthermore, it is expected that China’s energy sector will have to be reformed from a controlled to a market pricing system, which calls for price deregulation. This means that prices of electric power may eventually be adjusted to meet the market demand.

Many foreign companies have started to shift manufacturing investment to smaller cities in central and west China, where power capacity for industrial use is more stable and adequate, and labour and land cost are lower than in large cities along the east coast. In addition, many companies have purchased diesel generators as a back-up to maintain production during peak power times.

As a result, foreign companies may want to include the expense of diesel generators as a fixed cost of investing in China and raise their estimate of costs to account for power supply uncertainties in east and south China.

Diverse and rapidly changing market

China is a very diverse market. With 1.3 billion in population, the consumer culture, cuisine and local languages are dramatically different in provinces from north to south and from east to west. The overall market has been growing rapidly but regional economy has developed at very different paces.

In addition, China has a long history of strong regional protectionism where provincial and municipal governments impose barriers to the inward trade of goods and services from other regions to protect local businesses and tax revenue. It is challenging for foreign companies to penetrate regional markets because products that are well received in one city are not necessarily welcome in other areas in China.

Foreign companies need to be very sensitive to, and make marketing strategies taking into consideration, the regional differences and barriers. It is a mistake to assume that products popular in large cities or the east coast region will eventually find their ways into second-tier cities and the mid-west region.

Before jumping into these markets or launching a new product, it is critical that foreign companies do substantial and in-depth market research and keep close track of regional developments.

Difference in culture and management styles

The cultural differences between China and the West are striking. For example, in China telling a guest that he or she has gained weight recently is a compliment, and the honoured guests at a dinner party can expect to be given the head and tail of the fish to eat. To share and ask about personal matters is an expression by management of caring and respect for employees in Chinese companies, where the same questions may be seen as an invasion of privacy in the West.

Foreign companies doing business in China need to become familiar with basic Chinese culture and critical differences in business etiquette. Hiring managers who grew up in China and were trained overseas may help to smooth the potential conflicts in cultural and management styles.

What particular guidance can be given to smaller-sized to mid-market businesses looking to invest in China?

Find the right partner and make investments step by step
Small firms usually need a local Chinese business partner to make sales, deliver products and develop local markets. Companies may start by working with potential partners on low-cost products or under the consignment manufacturing arrangement to test their quality, capacity, efficiency and reliability before making substantial investment on forming joint ventures with a local partner or investing in factories and other capital expenditures.

Another approach is to set up liaison offices and hire a few Chinese employees to obtain first-hand market information and build customer relationships. Alternatively, foreign companies may form joint ventures with Chinese partners with small amounts of investment and gradually increase the investment and eventually buy out these Chinese partners after they obtain a more solid market foothold.

Hire good local managers and advisors

Smaller firms tend to be cost sensitive. However, firms that are willing to pay for the best managers and advisors usually get significant return in the long run.

Advisors who have substantial experience in advising foreign companies doing business in China and in-depth familiarity with Western management and business models may help foreign companies identify the most cost-efficient market entry strategy and sustainable operating model for their Chinese investment. Smaller firms should invest in hiring and training the best local managers, instead of sending expatriates to work in China. Usually, periodic overseas training opportunities are very attractive to offer and an effective way of retaining and rewarding the best Chinese employees.

Be realistic and patient

Do not rely on the promises of subsidies and incentives of local government officials and partners to project your profitability. Use independent sources to verify your partners’ claims of ownership, permits, permissions, licenses, and professional qualifications. Do a thorough risk analysis and have solutions for the worst situations in every phase of developments. Do not compromise on risk assessment standards just because the trend is to go to China. Be patient in waiting for acceptable terms and return on investment.

In which business sectors are there the most/least risks, and why? In which sectors are the Chinese most /least receptive to investment?

It is difficult to a draw a general line between the highest and lowest risk industries in China because foreign investments are prohibited or restricted in some industries.

The State Council issued the Guidelines for Industries with Foreign Investment as a primary basis for foreign companies to find out whether foreign investment in a particular industry is encouraged, permitted, restricted or prohibited. The next step is to check the local government’s industry policy in a particular province or city where you plan to make the investment.

In general, consumer and consumption-related companies benefit the most from China’s 1.3 billion population and fast growth. We have seen companies that reported double or triple digit growth in annual revenue in their operations that manufacture and sell furniture, construction and interior decoration materials, cleaning and sanitising products, and auto parts in China.

What incentives are offered?

China offers tremendous incentives. The basic tax incentive is the so-called ‘five-year tax holiday’, including a two-year income tax exemption followed by a three-year 50% income tax rate reduction starting from the first profit-making year to manufacturing-oriented foreign investment enterprises with a minimum 10-year business operation.

In addition, the regular corporate income tax rate is reduced from 33% to 24%, 15% or even 10% in various economic, technology or special development zones. There are incentives offered based on industries and transactions, incentives on business tax, value added tax, customs duty and other transactions tax. Local governments usually offer fiscal subsidies and tax refunds. The key is to identify what is on the table and verify incentives with independent advisors.

Finance Manager China

Company introduction: Our client is a leading global developer and producer of road safety products, system, service and solutions. They were founded in 1969 and became the world¡¯s No. 1 in traffic signal production fields and World¡¯s No.2 in glass bead production fields. Due to a dense network of cooperation partners, their quality solutions and products can be found in over 60 countries worldwide. Up till 2007, they have more than 1900 employees worldwide and with the turnover more 320M Euro.
With their progressive expansion in Asia, they are looking for Finance Manager in Shanghai,.

Job Description:
Report To: Asia GM_/ Deputy GM
Location:Shanghai
1. Produce timely accurate financial information to the management: monthly, yearly closings, reporting & consolidation, budget & forecast and the financial statements
2. Is responsible for finance and accounting, reporting and control, supervise information systems of the company.
3. Provide required data analysis and comments
4. Follow HQ Financial & Accounting Policies
5. Implement group financial systems, work-flows, analytic accounting & controlling, monitor the biz flows, performances & risks
6. Manage cash & liquidities, bank loans & currencies;
7. Supervise periodic tax filing accurately and on time;
8. Complete and report the local tax situation (Income & VAT, Intrastat,..)
9. Control credit risks & credit insurance issues & settlement of receivables
10. Provide assistance to internal & external audits
11. Supervise Payroll & related HR Admin
12. Set up & maintains a insurances
13. Supervise General accounting, AR, and AP bookings
14. Make sure accounting booking and follow both HQ accounting policies and local GAAP.
15. Direct Reports: 1 Cashier

Job Requirements:
1. Above 30 years old with a bachelor degree in finance or other related major.
2. Work requires professional written and verbal communication and interpersonal skills.
3. Ability to motivate teams to provide overall good quality service within tight time frames and simultaneously manage several projects.
4. Work requires willingness to work a flexible schedule. Demonstrated proficiency in the use of the English language in reading, writing, and speaking
5. Demonstrated ability in the use of computers and business related software (SAP and Kingdee software)
6. Accounting Certificate

* Please send us your complete resume (both in Chinese and in English) to:
‘topjob_fi163sh#dacare.com'(Please replace “#” with “@”)

Emerson hot on Nanjing

US-BASED Emerson Process Management Co Ltd plans to invest US$30 million to build a production facility in Nanjing.

The Asia Flow Technologies Center will be the company’s sole production base in Asia and the fourth of its kind worldwide. The others are in the United States, Canada and Mexico.

China has become Emerson’s second-largest market after the US, and building a plant here is part of the company’s strategy to capitalize on the growing market in the Asia-Pacific region, said Mike Train, president of Emerson Process Management Asia-Pacific.

The facility, to be located in the Nanjing Jiangning Science Park, will cover about 12,500 square meters. It is expected to be completed in 2008.

The plant will produce process control equipment, including flow meters, density meters and ultrasonic devices, officials said.

Emerson first licensed technology to China in 1979 and opened its first factory in the country in 1992.

Chief Accountant – Financial Reporting

Purpose & general responsibilities of the position:
• To provide timely and accurate monthly and other reports and to continuously streamline the reporting process.
• To prepare standard and ad-hoc financial analysis.
• To coordinate the budget process and prepare presentation and reports for MLOG GCA.
• To prepare Advisory Board file
• To live, communicate, inspire and promote of company Mission, Vision, Values and Core Culture.
• To assist head Management Reporting in ad-hoc tasks.

Specific requirements for the position:
• Strong knowledge of MLOG business procedure and product knowledge.
• Strong financial knowledge in terms of monthly report, CoA management, etc.
• Strong financial analytical skills including KPI measurement, trend analysis, etc.
• Financial sensitive and risk management skills.
• Excellent communication skills and capability of exerting strategic influence.
• Good ability to react proactively and with creative problem solving skills.
• Self motivated and exert the leadership in a team.
• Fluent in both written and spoken English.
• Strong Excel and Powerpoint skills

* Please send us your complete resume (both in Chinese and in English) to:
‘topjob_fi161sh#dacare.com'(Please replace “#” with “@”)

Huge job losses in China over Mattel toy recall

The China Toy Association has announced that Mattel’s global recall of Chinese-made toys has had a huge impact on the industry, with many workers losing their jobs, but added the industry was not to blame.

China has been struggling to convince the world its products are safe after a series of scandals over a string of products from tainted pet food and drugs to tyres, toys and toothpaste.

In its second recall this month, the US’s largest toy company recalled millions of Chinese-made toys due to safety risks from magnets and lead paint.

Mattel warned it may recall additional products as it steps up testing.

The China Toy Association, representing manufacturers and suppliers, said the production of poor-quality goods was not deliberate.

“The industry itself did not mean to produce poor quality goods and paid a heavy price for its mistakes,” the association said in a statement.

“Most of the employees will have to leave factories they have been serving at for many years and are facing unemployment or re-employment problems.

“This has had a huge impact on the industry and society. The recent recalls were instigated by foreign brands. Nobody was injured.”

It also blamed “unobjective whipping up of public opinion” for the troubles which “certainly led to excessive worries for domestic and foreign consumers”.

It added that no companies had considered shifting orders elsewhere.

U.S. legal firms send work overseas to cut client bills

NEW YORK: Bruce Masterson, the chief operating officer of Socrates Media, asked his outside counsel to customize a residential lease for all 50 U.S. states in 2003. The firm’s estimate: about $400,000. He rejected that price tag and hired QuisLex, in Hyderabad, India, which did it for $45,000.

“It was good quality,” said Masterson, whose Chicago-based company publishes legal forms on the Internet. “We’ve been working together ever since.”

Clients are pushing law firms like Jones Day and Kirkland & Ellis to send basic legal tasks to India, where lawyers tag documents and investigate takeover targets for as little as $20 an hour. The firms are reacting to a trend that will move about 50,000 U.S. legal jobs overseas by 2015, according to Boston-based Forrester Research.

“The objective is to have only the most valuable people in London or New York, and the others in India, China or Columbus, Ohio,” said Robert Profusek, co-head of the mergers and acquisitions practice at Jones Day in New York, who sends low-end work to the cheapest locations and plans to open a document center in India. “Lawyers are service providers. We are not gods.”

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Sponsor Link: DaCare Legal Search (China)
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Companies with in-house legal departments in India include DuPont, Cisco Systems, and Morgan Stanley, according to ValueNotes Database.

The Indian legal-services industry will more than quadruple to $640 million by 2010 from $146 million in 2006, ValueNotes, of Maharashtra, India, said.

General Electric sends about $3 million a year in routine legal work to its Indian affiliate, said Janine Dascenzo, the GE managing counsel for legal operations.

“India has very talented lawyers,” she said. “But it’s a misconception that you can just send work there and it gets done. You need proper supervision and security.”

Kirkland & Ellis, the seventh-largest U.S. law firm, works with offshore attorneys at the client’s request, said Gregg Kirchhoefer, a senior partner in the firm’s outsourcing and technology transaction practice.

“I’m not an advocate of offshoring legal services, but having worked in this area for so long, I understand the value of the model,” he said. Typically, clients hire a provider and Chicago-based Kirkland helps manage the attorneys, Kirchhoefer said.

One incentive for corporations to send legal work overseas is that ethics rules compel law firms to disclose their profit margins. Traditionally, law firms charge clients markups of as much as three times what they pay associates and contract attorneys.

“Law firms can earn more by using labor they can mark up without disclosure,” said Stephen Gillers, professor of legal ethics at New York University School of Law. “Clients are knowledgeable about costs, and they want to negotiate the markup on these charges.”

Not every law firm has accepted the trend.

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Sponsor Link: DaCare Legal Search (China)
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“Some firms are spreading fear, uncertainty and doubt,” says David Perla, co-chief executive of Pangea3, an offshore legal-services company based in New York and Mumbai. “They see any competition as bad and they’ll raise any issues as to why you shouldn’t go offshore.”

Of the 10 highest-grossing U.S. law firms, seven declined to comment on outsourcing. Only one, Chicago-based Mayer, Brown, Rowe & Maw, said it does not use the practice.

“I don’t think law firms are ashamed of offshoring,” Perla said. “The firms that are having success with it aren’t talking, because they view it as a competitive advantage.”

Of about 100 third-party legal services providers in India, clients give top marks to Pangea3 and New York-based Integreon Managed Solutions, according to The Black Book of Outsourcing, a survey published in July by Brown-Wilson Group, which is based in Clearwater, Florida.

About 80 percent of Pangea3’s clients are corporations and 20 percent are law firms, Perla said.

“Some firms are coming to us because in-house clients suggested it or pressured them,” Perla said. “Others want to come to the client first and offer a solution.”

Integreon, which provides legal services in India, the Philippines and Fargo, North Dakota, has long-term contracts with about 45 companies and 15 law firms, said Liam Brown, the company’s chief executive.

Law firms contribute 45 percent to offshore revenue, while corporate law departments contribute 36 percent, ValueNotes said.

Integreon recruits lawyers from second-tier law schools in India and managers from the litigation practices of firms such as Skadden, Arps, Slate, Meagher & Flom, said Brown. After training in India, managers relocate to New York or Los Angeles.

In India, legal education is based on common law and conducted in English, requiring two or three years of classes. The country produces about 80,000 law school graduates a year, according to ValueNotes, compared with about 44,000 in the United States.

Offshore companies charge $10 to $25 an hour on low-end work and $25 to $90 an hour on advanced jobs. Junior Indian lawyers might earn as much as $8,160 a year, according to ValueNotes, compared with the $160,000 average salary for associates in major U.S. cities.

Janice D’souza, a 26-year-old lawyer in Pangea3’s litigation and research department in Mumbai, said she makes three times as much as she would at an Indian law firm.

“At an Indian law firm, generally your potential is not recognized at an early stage,” D’souza said. “Here it’s talent-based. In the near future, I think I will be a department manager.”

Sales Training Manager – One 500 fortune company of the world

Responsibilities:
1. Plan, direct, deliver and administer training program for sales people
2. Analyze and understand training needs, and how it supports achievement of business needs
3. Develop metric and reporting tools to determine effectiveness as well as return on investment
4. Administer the training materials and training record
5. Keep abreast of training best practice and apply it to the Company where applicable
6. Advise all personnel in the implementation of training policies, procedures and processes.
7. Complete special training or development projects as assigned
Competency Requirement:
1. Bachelor’s degree
2. Fluent in English (written and spoken)
3. At least 3 years of experience in training and development
4. Excellent verbal and written communication and presentation skills
5. Able to complete projects in a timely and error-free manner with minimum supervision
6. Comfortable communicating with all levels of the employees
7. Energetic and highly-motivated
8. Strong attention to accuracy and detail
9. Initiative and independent
10. Committed to continuous quality improvement
11. Willing to travel within China
12. Excellent skills in Microsoft Word, Microsoft PowerPoint & Microsoft Excel

* Please send us your complete resume (both in Chinese and in English) to:
‘topjob_mkt206sh#dacare.com'(Please replace “#” with “@”)