07 Oct '11, 2am

Global Chinese entrepreneurs need more than 'guan xi': PM Lee: by Hoe Yeen Nie SINGAPORE - P... www.elocdigital.com

SINGAPORE - Prime Minister Lee Hsien Loong has urged global Chinese entrepreneurs to upgrade and raise their game. He said relying on "guan xi" or connections alone is not going to be enough as China continues to open up more. As the Chinese seek out new markets, the traditional reliance on connections is being replaced by international business norms, Mr Lee added. "Chinese entrepreneurs cannot rely on 'guanxi' alone for success. In China itself, 'guanxi' has been particularly important. But as China opens up more to the world, and as more Chinese people travel and operate overseas, they will have a wider choice of partners and networks to work with, whether for funding, business collaborations or access to new markets … So Chinese entrepreneurs, will have to upgrade themselves and raise your game to remain useful and to keep your market positions." Mr Lee, who officially...

Full article: http://www.todayonline.com/Singapore/EDC111007-0000202/Gl...

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