cover story - the best business school in china · in this cover story, ... a piano tuner and a...

theLINK Volume 4, 2016

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The MBA IssueC

EIBS is known for the quality

of its students and this year’s

MBA Class of 2018 does not

disappoint!

In this Cover Story, we introduce you

to a few of the impressive personalities

from the class who make us here

at TheLink wish we were studying

alongside them. This year, we buck

the b-school trend with 45% of the

191-member class being women so

of course we had to take a deep dive

into that topic. We also have quite

a bit of students who have either

been entrepreneurs themselves or

have facilitated start-ups as venture

capitalists. Some have done both!

A n o t h e r ve r y n o t i c e a b l e t h i n g

about the MBA Class of 2018: their

g loba l footpr int ! So we look a t

all the Chinese students who had

already racked up experience abroad

before they joined us, as well as the

foreigners who are already China

hands. We’ve been impressed by the

batch. They do justice to those that

MBA 2018 Fast Facts

• Overseas 36%(includingHongKongandTaiwan)

• International 28%

• Female 45%(historichigh)

• AverageAge 29

• AverageWorkExperience 5.7

• AverageGMAT 688

• Countrycoverage 21

• Topfourindustries:Financialservices,Manufacturing,Technology,Consulting

• Topfour functions:Finance/accounting,Generalmanagement,Marketing/

Sales, Consulting

• Previousemployers include:Accenture,Alibaba,Bayer,CICC,CreditSuisse,

Deloitte,Ernst&Young,Huawei, Infosys,McKinsey,MorganStanley,PwC,

Qualcomm, Roche, Samsung, Tencent, etc.

came before them and set a high bar

for those who will come after. Fun

fact: this class includes 10 marathon

runners, six experienced debaters, two

poets, a piano tuner and a Warner

Brothers-signed lyricist. We’re so very

pleased to introduce you to the MBA

Class of 2018, through the stories of

just a few of the amazing participants.

Read on for more in:

- Start-up Lessons

- WhoRuntheWorld?Girls!

- WhentheWorldisyourOyster.


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31

START-UP LESSONS

By Charmaine N Clarke


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32

Entrepreneurially minded students

usually fit right in at CEIBS,

which has a soft spot for those

brave enough to try making it on their

own. They can tap into the eLab, the

school’s hip, on-campus incubator that

doubles as a shared workspace; two funds

that provide access to much appreciated

capital; an active entrepreneurship club

and just a general on-campus vibe that

says: go for it!

“Before joining CEIBS, I had already

heard about the eLab that started out

as a small space above the canteen

and now has its own dedicated space

on campus. The eLab’s boot camps,

lectures outside of the classroom,

and other resources that the school

makes available for students are quite

impressive,”saysJuemin“Arkham”Gan

who already has two start-ups under

hisbelt.Hisfirstcompany,Eastdigilife,

had a simple business model to sell

electronics online. But neither he

nor his partners had the practical

e-commerce experience needed to come

up with a clear marketing strategy.

Fivemonthsagohe initiatedanother

project, Virtual Explorer, focusing on

the online tourist industry. The project

is now on hold and he is thinking the

eLab may be one way to revive it – but

has no firm plans yet. Arkham is sure

of one thing, though, he wants to be

an entrepreneur after he finishes his

CEIBS MBA. “After I graduate I will

pursue my dream of starting a tech-

driven company that focuses on big

dataandartificialintelligence,”hesays.

HeisamemberofCEIBSMBAClass

of 2018 whose students come from a

wide range of industries, broadening

the wealth of knowledge classmates

can share among themselves. For

example Yihan “Coco” Zhou, who

previously worked with Michelin

China as an Innovation Analyst and

Communication Manager for their

incubator programme, has insights to

offer on everything from crafting that

first business plan to attracting VC

funding,andthengettingtoIPOstage.

“Frommyexperience,failureis justas

important as success to a start-up as

one can pivot from the original idea

to something else which might totally

change the market,” she says. “My advice

to entrepreneurs is to keep trying,

testing, pivoting and eventually, you may

just be able to provide the right product

or service to the right customers.”

In this section of the Cover Story, read on for the fascinating stories of:

- AndrewKim,atrainedlawyerwithaknackforspottingneedsandthentranslating

them into viable businesses;

- ShaoleiHong,alyricistatheartwhohopestoleveragehispastexperience

as an entrepreneur and venture capitalist to do something that makes

him happy while he makes a living;

- Zoe Yang, who co-founded an education platform start-

up in Beijing but was severely hobbled by her limited

knowledge of how business is done in China;

- GaryNg,whoseyearsofworking inSiliconValley

biotech start-ups opened his eyes to opportunities in

China; and

- Chicco Tseng, a Taiwanese who launched a start-up

in Shanghai only to be poached by the competition.


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Serial EntrepreneurAndrew Kim


He just can’t help it. Thirty-one

-year-oldAndrewKimisaserial

entrepreneur. And he’s good at it.

“I’m a dreamer. When a new entrepreneurial

opportunity comes up, I obviously scrutinise

the idea; but more importantly, I look at the

individuals who I will be partnering with. I

look to see if we share the same vision and

outlook for the company. I look at who they

are because their integrity matters to me

more than the business idea,” he explains.

TheKorean-Canadianstudied lawbecause

hewantedtohelpKoreanslivinginCanada

who had problems accessing legal advice

due to language barriers. Born into a

family of businessmen, he also knew that

understanding the intricacies of corporate

law would come in handy when he launched

his own start-up. So far, he has had a hand in

the launch of a lobster export company and

heistheCEOofWOWGroupofCompanies

which includes a restaurant franchise, an

interior renovations company, and a more

recently-launched bakery.

As if his plate wasn’t full enough, now he’s

doing his MBA at CEIBS.


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34

The third t ime was a charm for

Andrew, who has been trying to get

toChinasince2007.Hefirst tried to

go on exchange to Beijing University

while he was doing his undergraduate

studies at the University of British

Columbia. That fell through because

of bureaucratic issues. Then during his

last year of university he successfully

applied for a full scholarship to study

Mandar in a t Shang hai J i aotong

University. Unfortunately, personal

reasons kept him from accepting the

offer.Nowhe’sfinallywherehewants

to be. “Being fluently conversational

in Mandarin and getting to really

know the Chinese people are my goals

for the next 18 months. I also believe

that no matter what business I get

involved with in the future, the Chinese

population will likely comprise a large

portion of my customer base,” he says.

"Therefore, understanding their culture

and their language is key for me.

CEIBS, being the #1 business school in

Asia, with its large successful alumni

network, and its location in Shanghai

caught my attention.”

Hemadehisdecisionaftergettinga

taste of the CEIBS MBA during a boot

camp in the summer of 2015. “I was

attracted by the care and attention the

faculty gave to the students. I was also

impressed by the level of the professors

and felt a good vibe with the school in

general,” he adds.

It is obvious from the steps he has taken

sofarthatAndrewisaplanner.Hehas

a knack for stepping back and looking

at the big picture then mapping the

pathheintendstotake.Heisalsovery

good at spotting business opportunities

and, more importantly, has the skill

to get the timing just right. While

working at Canada’s largest law firm,

Borden Ladner Gervais LLP (BLG),

“I look to see if we share the same vision and outlook for the company. I look at who they are because their integrity matters to me more than the business idea.”


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35

“The planning alone took me just over

a year, then testing of recipes and raw

ingredient procurement took a few

months,” says Andrew who is a huge

fan of French, Japanese and Korean

baked goods and pastries. “Calgary

has a number of reputable European

bakeries but not an Asian one. I saw a

niche market in Calgary and wanted

tomakeKorean/Japanesebakedgoods

available to the Calgary community. It

was also one of my dreams to open my

own bakery.”

Including Andrew and his partner,

the bakery has 12 employees. The

concept is a self-serve, take-out only

bakery that has a retail side plus

cateringandwholesale.Hisplanis to

buildWOWBakery intoa franchise,

a place that Canadians automatically

think of when they want scrumptious

baked goods. It seems he’s well on

his way. Two months after opening,

WOW Bakery was named the best

bakery by Heyscafes, a local rating

system. As he watches the bakery

grow, Andrew also oversees the three

year-oldWOWChickenwhichisnow

considered one of the top chicken

restaurants inCalgary. It’saKorean-

sty le fr ied chicken business and

he and three friends were convinced

there was a lucrative market in Asia for

Canadian seafood. They were right.

PNL International Trading Inc had

CDN$240,000insales initsfirstyear.

Under theCanada-KoreaFreeTrade

Agreement, there will no longer be

any tariffs on lobsters as of next year.

That will mean lower prices, which

willmakePNLmoreattractive inthe

Koreanmarket thanUScompetitors.

The company also plans to expand its

operations to include frozen lobster,

opening up new sales channels. It

anticipatesanywherebetweenCDN$13

million to CDN$15 million in sales

next year.

B u t A n d r e w , w h o i n v e s t e d

CDN$120,000 to help launch PNL,

won’tbegettingashareoftheprofits.

Herecentlyaskedhispartners tobuy

him out of the business so he could use

the money as seed capital for another

start-up,WOWBakeryLtd,andfocus

ontheWOWChickenfranchise.Plus

he knew he would need time to study

whiledoinghisCEIBSMBA.“Hearing

that CEIBS is an academic-intense

institution, I was not confident that I

would be able to competently juggle

school work, networking, PNL and

WOWsimultaneously,”he says.The

PNLexperiencehasbeenapositiveone

overall. In fact the word Andrew chooses

todescribe it is“exhilarating”.Hestill

keeps in touch with his former partners

and would work with them again if an

opportunitypresentsitself.Fornow,he

is focusedonmakingWOWBakerya

success. It opened this June.


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36

Andrew believes its authenticity in

both taste and design is what gives

him the edge over competitors. “When

we began, there were already three or

four other competitors already in the

market.However, I felt thatnoneof

them really provided a true Korean

experience,” he says. “I wanted to set

up a restaurant where, as soon as our

customers stepped in the door, they

feltas if theywereinKorea.Notonly

do I want to sell fried chicken meals,

but also sell the experience to our

customers.”

They now have two locat ions in

Calgary: one is a dine-in, full-service

restaurant and the other is a self-

serve, mainly take-out style outlet.

The business has grown from six

employees to 20 and, since its second

year running, has had sales over

CDN$100,000 despite challenges in

Calgary’s economy that have hit the

food industry hard. They have had

franchising inquiries from interested

parties as far as from Arizona, but

Andrew is being cautious. “We have

turned down all offers to date, because

I am currently in Shanghai and also

because I am now working on the

necessary documents to make it into a

successful franchise, such as the master

franchise agreement and our business

information package,” he says.

WOWGroupofCompaniesisrounded

out by WOW Interior Ltd, which

was born out of a need to design the

locations for his restaurant and bakery.

So far they have completed a number

of projects for other companies.

“A f t e r o p e n i n g o u r f i r s t WOW

Chicken location, we have received

and completed a number of outside

renovation projects for companies

who were impressed by our design and

execution. We are currently working

with Quickly Canada (a Taiwanese

BubbleTeaFranchise) in renovating

their new stores in Calgary. Moreover,

we will also likely see a joint venture

project between WOW Bakery and

Quickly Canada in the near future,” says

Andrew.Hehas also tweakedWOW

Interior’s organisational structure to

make it more efficient, changing from

a six-employee team to one full-time

chief designer who works on projects

with temporary workers as needed.

The same pragmatism that Andrew

takes to running his companies guides

his overall approach to what comes

next.Hehasa lotofoptionson the

table after he finishes his CEIBS MBA

in 18 months. He can either devote

himselftobeingthefull-timeCEOof

WowGroup,geta job,or findaway

to do both. “I am very open to trying

new things. I believe that I will be able

to continue supportingWOWwhile

abroad even if I have another full-time

job. Idid itwithPNLwhilebeinga

full-time lawyer, so I believe I can do

it again,” he says. “I’m really looking

forward to my time here at CEIBS and

I’m excited to see what new doors it

will open for me in the future!”

“I believe that I will be able to continue supporting WOW while abroad even if I have another full-time job.”


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From Entrepreneur to Venture Capitalist to MBA


ShaoleiHong’sCEIBSMBAstudieshave takenhimfull

circle. The school’s Shanghai campus in the well-heeled

JinqiaoareaofPudong isa stone’s throwaway froma

neighbourhood he’s very familiar with, one where he had his

first taste of life as an entrepreneur. Shaolei was one of the

foundersofNorthernMedia,avideostreamingcompany

located inan industrialclusternearHongfengRoad.He

and his partners thought they had the perfect strategy,

one that could not fail.

But it could. And it did.

Thebusinessplan seemedsolid.NorthernMedia

was lucky enough to be in possession of one of

the few licenses to provide pay-to-view content

to China’s three big phone companies. They

would make shorter clips of popular videos

and stream them to mobile phone users. The

best part of the deal was that, unlike similar

services at the time, users paid the phone

companies before they viewed the content,

a solid source of revenue from which

NorthernMediabenefittedafter itbegan

operating in 2012. “We thought we had

a very good business model because we

would be protected by the government.


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38

That was the whole point,” says Shaolei

with the hint of a British accent he has

held onto years after studying abroad.

The company started out with 10

people, earning about RMB100,000

a month. At its peak they were up to

30employees,mostof themediting

video content, and they were raking in

almost RMB1 million a month.

But lax enforcement of the regulations

soon saw big name players entering the

obviously lucrativemarket.Northern

Media simply could not compete.

“In the beginning we thought we

were in a very good position, but we

were actually operating in a market

economy and we eventually had to get

out because our business model just

wasn’t smart enough,” says Shaolei

who, at heart, is a firm believer in the

market economy. While his partners

held onto the hope that the regulations

that protected their share of the market

would be enforced, he realised it was

time for a change in company strategy.

While his initial role at the company

was more of an operational one that

covered aspects of content selection,

marketingandfinancing,Shaoleisoon

found himself mostly trying to raise

fundstokeepNorthernMediaafloat.

“The business was going down and we

were relying on it to make a living,” he

says of those days.

T h e n s o m e t h i n g c o m p l e t e l y

unexpected happened.

O n e o f t h e VC c o m p a n i e s h e

approached for funding offered him a

management position. The only catch

was that he would have to go back to

his hometown, Shenyang, which was

a lot slower than fast-paced Shanghai

which he had grown to enjoy. It was

a good life, but after about four years

Shaolei was aching for something a

bitmoreexciting thanShenyang.He

decided,onhis31stbirthday, that it

was time to do his MBA – and it had

tobeinShanghai.Hehadalreadylived

more lives than most people can only

dream of. With thoughts of eventually

being a songwriter, he had spent about

a year trying to break into the industry

by scouting talent for a music label.

Hewaseventually signedbyWarner

Music as a lyricist but never actually

sold any songs so now he knows the life

ofasongwriterisnotforhim.Hewas

educated abroad and has already been

an entrepreneur and venture capitalist

in China. All these experiences have

left him with a very important lesson:

dreams are great but you need a healthy

doseofrealitytosurvive.Healsohas

the added advantage of knowing exactly

what it’s like to be an entrepreneur

desperately in need of funds, and an

investor looking for a venture that will

pay off.

Both sides, he says have their pros

and cons. Venture capitalists get to see

the big picture, have an opportunity

to learn about new companies and

industries and have access to valuable

“We thought we had a very good business model because we would be protected by the government. ”


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39

information.On theotherhand,he

says, venture capitalists spend about

60% of their t imeta lking whi le

entrepreneurs are actually doing .“From

my experience as a venture capitalist,

we don’t really execute anything in a

real industry; we just look and analyse.

That’s the major thing that we do,” says

Shaolei.Hedoesacknowledge,though,

that the capital injection plus the vote

ofconfidencethatcomesfromgetting

VC funding can mean a lot to the

success of an entrepreneurial venture.

In the first few weeks of his CEIBS

MBA, a personality test gave Shaolei an

idea of what his future holds. It turns

out that he may not be ideally suited

forentrepreneurship.Hescoredhighly

in the skills needed to develop new

products, he was in the mid-range for

a venture capitalist and his skills were

said to be the least suitable for being

anentrepreneur.HethinksafterCEIBS

he will try his hand at being a venture

capitalist once again. “I’ll specifically

try to look for opportunities in venture

capital firms that focus on media and

entertainment. That will be my priority

after graduation,” he says. “Then

eventually I want to be at a company

that I am really passionate about; that’s

pretty much my plan so far.”

China, Shanghai and CEIBS are a big

part of his plans. He went to high

schoolintheUK,livedintheUSfora

whilethenhadanotherstintintheUK.

Nowheneeds tobe inChina.“Idid

think about doing my MBA abroad.

But I already know what overseas looks

like, and if you study abroad you have

to spend at least two years rebuilding

your network when you get back to

China. I wanted to be at the centre

of theuniverse.FromShanghai you

can witness China’s development,”

he says frankly. His choice of city

was reinforced by influential friends

in the financial sector. All that was

left was to choose a school. “I chose

CEIBS because people I consulted

said I needed a business school with

an international environment. I’m

very happy with my choice so far,” he

says. He also feels that CEIBS, with

the vigour of its relative youth and its

entrepreneurial spirit, is exactly what

he needs right now. “You can feel when

a place welcomes you, you can feel the

energy, it’s very positive. I’m fortunate

because I’m in an environment that has

a very good entrepreneurial [spirit],” he

says with a grin.

“I wanted to be at the centre of the universe. From Shanghai you can witness China’s development.”


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40

Zoe Yang looks Chinese on the outside but she

does business like a waiguouren (foreigner).The

result: one failed entrepreneurial experience and a

determination to understand the China market so she can try

again.

She has a decade of experience in the European market and is

convinced that once she adds China knowledge and experience to

that, she will be unstoppable in her goal of running a viable business

that also gives her an opportunity to help those in need.

Disastrous beginning

Zoe has always wanted to help others. That’s why she chose to study

engineeringatSweden’sRoyalInstituteofTechnology(KTH).“Ihadfaith

that technology would make the world a better place to live in,” she says

from a sunlight-filled, windy balcony at CEIBS’ Shanghai Campus one

summer afternoon during a break between her MBA classes.

But she soon learned that technology wasn’t enough.

Aftergraduating fromKTHin2007,ZoestartedhercareeratEricsson

headquarters, which gave her lots of opportunities for doing CSR-related

work in developing countries. As a member of Ericsson’s volunteer team,

she drove home the lesson that people need a solid educational background

to be able to get the most out of all the high-tech resources available. “I saw

the huge gap between the education levels of developing and developed

countries and realised that technology alone is not enough,” she says.

She decided to bridge the gap by helping bright students who lacked the

resources to access high-quality overseas education. “My original goal was

tohelptech-savvyyoungstersaccessafirst-classeducation,especiallythose

who didn’t have the resources to do this by themselves,” she says. She used

all her long summer breaks in Europe to research the market, participate in

education forums and search for business partners in China. At the end of

2014, when she had all the pieces in place, she quit her well-paying job at

Ericsson and threw herself into social entrepreneurship.

Lesson Learned! By Charmaine N Clarke


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41

It was a disaster.

“I had been in Sweden for 10 years.

I had never worked in China before;

I never got to know the market and

build a network here,” she explains. “So

maybe my way of communicating, and

the way I think doesn’t really fit into

today’s reality of the Chinese business

environment.” Used to Swedish work

ethics and labour laws, she floundered

when faced with China’s job hopping

workforce. And she had to learn that

a contract in China is merely the start

of a partnership in which she has to

repeatedly negotiate new terms as they

are raised by the other side.

“My naiveté was always being brought

up by my business par tners and

other co-workers. In the beginning it

was kind of cute, but then later they

thought, ‘ok this is beyond being naïve,

this is stupid’. I was in a totally different

business environment!” she says.

Eventually, a major disagreement led

to Zoe leaving the company she co-

founded. Her initial goal had been

to create a C2C platform that made

it inexpensive to study abroad. She

had a clear idea of her target market:

those who were most in need. But

seeing the profitability of similar

market segments, her partners took

the business in another direction so

they could explore the coming boom

in the high school education market.

“Most students who can afford to go

to high school abroad don’t really need

our help. They can get this kind of

service by paying other agencies in the

market,” Zoe says as she explains her

objection to the change in strategy. But

her partners thought it best to expand

their client pool and grow the company

before helping those in need. The small

company didn’t have the resources

to pursue both ideas simultaneously.

They had to choose. Zoe was outvoted

in a decision on the company’s future

direction.

Humbled by failure

The experience has humbled her. She

realises that she may be Chinese by

birth but she has a lot to learn about

doing business in China. “My biggest

regret isn’t choosing the wrong partner,

it’s that I did things in the wrong order,”

she says wistfully. “I should have first

learned to understand the market here

in China before I jumped into it to do

business.” She adds, “Since I grew up in

China and speak the language, people

here treat me as a local and expect

me to behave as a local. So they were

confused by the way I behave. They

either think I’m stupid or deliberately

trying to sabotage them.”

Nowshe’shopingthatherCEIBSMBA

will give her the skills she needs to make

a success of her next entrepreneurial

venture. She still wants to do something

inthefieldofeducation,anditwillstill

have a strong CSR focus and hopefully

draw on her engineering skills. “I spent

10 years understanding how business

works in Europe. With help from

CEIBS,fiveyearsshouldbeenoughto

understand how to successfully run a

business in China,” she says.

“I spent 10 years understanding how business works in Europe. With help from CEIBS, five years should be enough to understand how to successfully run a business in China.”


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42

Poached by the Competition


Taiwanese Chicco Tseng is one member of the

CEIBS MBA 2018 class that already knows what

it’s like to have an idea that’s so good that your

competitor hires you.

After doing a Bachelor’s Degree in Industrial Engineering

atPurdueintheUS,Chiccodidamandatorystint in

the Taiwanese army. While serving, he came up with

the ideaforShoptong–anO2O(offline-to-online)

platform that connects offline products with online

users. “Imagine you are shopping on the streets of

Shanghai and you are trying to search for a pair of

shoes,” he says, explaining the concept behind the

Shanghai-based business. “With Shoptong you

could search for items nearby. Images of nearby

shoes and on-going product promotions

would show up on your map. Basically

Shoptong provided a platform for users

to search for offline information

around them.”


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43

Eager to launch the business before someone

with a similar idea beat him to market,

Chicco had his partners get the company

started in 2012 and joined as soon as he

completed military duties. But they soon

figured out that launching the business

was the easy part. The hard work was

hanging on to market share. They did that

byquicklyexpandingtheirstore/product

database to raise the entry barriers for

potential competitors. Within two

months, they were working with about

211 stores, providing access to more

than 1,000 items online.

In 2014, the competition came knocking. Zeon Corporation,

a global organisation that helps brands boost their identity

and increase sales, offered him a job as its International

SalesManager.Hetookit.AmonthlaterShoptongwas

no more. The two experiences taught Chicco valuable

lessons.Onethingisforsure,hesays,he“sleptbetter

when he was at Zeon”, a reference to the challenges that

come with running your own start-up. “It was super

fun working for both Shoptong and Zeon because they

are,essentially,twostart-upsatverydifferentstages.For

Shoptong there was a lot of groundwork that had to be done

and, like any small start-up, I had to do a lot of switching

between various roles. At Zeon, on the other hand, I had a more

in-depthroleinmarketingandR&D.”Hewasatthecompany

for two years and during that time he played a major role in

marketing campaigns that increased brand awareness and helped

triple the company’s customer base worldwide.

NowChiccoisinsearchofanotherchallenge.Forthenextyear-and-

a-half he will study alongside classmates from around the world who

havechosentodoanMBAatCEIBS.Hisplanafterhegraduates,he

says, is to “to work for a large software company and truly understand

how it scales up from 1 to 10”. After that, who knows…

The hard work was hanging on to market share.


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44

The Accidental Robot TrainerGary Ng


“When I first signed on to do my

PhD,Iwantedtobeaprofessor,

to be in an ivory tower. I wanted

to be the one teaching students, the one with the

smart glasses and the Einstein hairstyle. I thought

that was actually kind of cool at that point. But things

change,right?”saysHongKong-bornGaryNgwitha

mischievous chuckle.

He’ssittingacross frommeinmyoffice,completelyat

ease as he explains how a series of coincidences took him

from dreams of academia to Silicon Valley and eventually

the CEIBS MBA programme in Shanghai.

WhiledoinghisPhDatUniversityofCalifornia,Irvinein

theUS,Garylikedthefantasyofonedaybeingaprofessor

but he wasn’t thrilled about all the time he would have to

spend writing papers “just for the sake of getting grants,

which is a big part of the US system”. A lunchtime chat

with a scientist from Exxon Mobil who had just spoken at

an inorganicchemistryseminarshowedGaryhehadother

options.“Hetalkedaboutwhattheydointhelab,theimpact

their work had, the industrial processes. I was very fascinated. I

toldmyself:OK,I’mdownforindustry.I’vegottodoit!”That

was the end of his dreams of Einstein hair and smart glasses.


cover story

45

AftercompletinghisPhDhebeganapplying

for jobs all over the world. Eventually he

landed an interview with a company called

Freeslate,abiotechstart-upinSiliconValley.

Hehadno ideawhat thecompanydidbut

he nailed the interview anyway and got a job

as a scientist “It was a steep learning curve,”

he says of the early days. He eventually

found his feet and was soon neck deep in

automated robotic tools, petrochemical

pharmaceutical and biologics research.

For someonewhohadhatedhaving to

manually do lab work while doing his

post-doctorate research in synthetic

chemistry, the idea of training robots

to do some of the work was especially

appealing.

“WhenIwasdoingmyPhDresearch,I

would spend most of my time working

in the lab instead of generating new

ideas or talking to people; and I didn’t

likethat.SowhenIfirstlearnedabout

automation at Freeslate I was very,

very excited. I thought: this is going to

be the future! This is going to be one

area that I want to dedicate my life

to!” he explains. “It’s very challenging.

It’s not like you are asking a dog to do

certain tricks, this is actually training

a robot to do traditionally tedious

human work. We had customers from

Lilly, GSK, Merck – basically every

major pharmaceutical or chemical

companyusedFreeslatetools.”

Partofthejobwasmundaneplanning

meetings in the early phase of each

project; and then Silicon Valley was

just like any other place to work, not

the image of the holy grail of tech

innovation the name often brings

to mind. But then there was the


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46

travelling. Heflewallovertheworld

installing Freeslate equipment, and

showing clients how to use them.

In 2013, on one of these projects

for a major Chinese SOE in the

petrochemicals industry, he had his

first visit to the Chinese mainland.

He spent a year on the project’s

implementation phase, racking up

120,000 flight miles between San

FranciscoandBeijing.“It’snottypical

to travel so much on one project,

but this one was extremely difficult.

Freeslateonlysold threeof thatkind

of system in the world. The only one

outside of Europe is in China. So it’s a

very new system,” he says.

Gary was Freeslate’s team leader on

the ground in Beijing, a job that fell

to him because he was the only one in

histeamthatspokeMandarin.Hehad

learned while living in California, just

in case it proved useful in the future.

It did. “My life has been a series of

coincidences. I didn’t plan any of this

but it just happened to me as if I had,”

he says with a wry smile.

While working on the project in

Beijing, he saw the opportunities

available in the field of robotics and

decided he would return to China.

Unlike the US’ mature economy, he

feels a still-developing China is where

he can make a difference. After the

Beijing project ended, he spent the

next two years getting more experience

intheworkingworld.Hefeltitwould

better prepare him for doing his MBA.

Now he is looking forward to what

comes next, after he completes his 18

months of studying. First he hopes

to get into management consulting,

where he can draw on his analytical

skil ls and al l he has learnt while

traveling the globe during his stint

atFreeslate. In the longrun, though,

he wants to be a venture capitalist.

“There’s no lack of talent in China.

There are actually a lot of extremely

talented and technical ly capable

people here but the biggest challenge

is fund management,” he explains. “I

think one of Silicon Valley’s greatest

strengths – in addition to having

talented people from all over the

world working as high-performing

teams – is that they can actually

drive capital to work in favour of

technologicaladvancement.”Gary is

hoping to focus mostly on science and

engineering ideas that may touch on

areas including pharmaceuticals or

drug development; maybe automation

ornewenergy/material.

If his past accomplishments are

anything to go by, odds are he will

succeed.

Gary is spurred on by the greatest

lesson he says he learned from the

three-and-a-half years he spent in

Silicon Valley: be adventurous and

open-minded, never underestimate

any oppor tunity. “ This wor ld i s

changing very fast. So you can’t just

sit there, based on your old skills and

think that something will fall in your

lap. That is not going to happen. So

always just go out and be adventurous,

try things that are totally out of your

comfort zone,” he says.

“This world is changing very fast. So you can’t just sit there, based on your old skills and think that something will fall in your lap. That is not going to happen. So always just go out and be adventurous, try things that are totally out of your comfort zone.”


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47

WHO RUN THE WORLD? GIRLS!

By David Yu


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48

WHO RUN THE WORLD? GIRLS!

By David Yu

Th e B e y o n c é s o n g “ R u n

the World (Girls)” comes

to mind when looking at

the makeup of this year’s CEIBS

M BA C l a s s o f 2 0 1 8 . T h e re i s a

record-breaking number of female

students, 44.5% of the cohort. They

include a pageant contestant turned

entrepreneur, marketing manager

for a multinational, project leader in

a tech start-up, and a global citizen

now helping with her family business.

Their diversity of life experiences has

led them to CEIBS, where they have

a shared purpose – to upgrade their

leadership knowledge and skills, as

females.

As MBA student Jasmine Liu puts it,

“Women have a natural advantage

when it comes to empathy, which

is particularly important on a team

dominated by men. Female leaders

are better at paying attention to and

understanding team members’ various

demands, and assign work and tackle

interpersonal relationships in a more

scientific way, which optimises team

communicationsandworkefficiency.”

That is how she explains the core

competitiveness of a female leader

compared to male counterparts.

HerpeerSwatiMishraagrees,saying,

“A true leader must not be indifferent

– you should know and understand

what makes your team members

happy and unhappy.” Mishra has had

rich experience at Tata Consultancy

Services in project management, now

she is the only female member of a

business intelligence start-up in India

– it is this career transition that has

motivated her to enrol in the CEIBS

MBA. “I have to learn how to switch

from a process-oriented, task-assigned

corporate leadership role to leading

within a dynamic start-up venture

with few processes and constantly

chang ing respons ib i l i t i e s ,” says

Mishra. “Being leader in a start-up, I

wear different hats at work every day –

being a sales person, technical expert,

project leader and client relationship

manager. Since there are no assigned

roles, leadership demands a proactive

and action-driven approach which

involves taking bold initiatives and

risks. This is what I wish to learn here

at CEIBS.”

German national Laura Loof also

expec ts her CEIBS journe y w i l l

empower her as a leader. “I want to

develop cross-cultural leadership

skills here, because in a constantly

changing global environment, leaders

must be able to adopt both a global

and local perspective,” she says. “I

think the CEIBS MBA Programme,

w i t h i t s ‘ C h i n a d e p t h , G l o b a l

breadth’ perspective and interactions

between the members of its diverse

international student body, is a great

opportunity to enhance these skills.”

In this section of the Cover Story, read on for the fascinating stories of:

- Jasmine Liu, a “Miss Chinese” pageant contestant who has discovered how to

leadduringhercorporatePRcareerandnowhasadeeperunderstandingof

the leadership role as an entrepreneur;

- Swati Mishra, a female leader who comes from the tech sector that has long

been dominated by males;

- Zhong Qiu, a global citizen who has finally chosen to help with her family

business back in China; and

- Laura Loof, one of the youngest in a Marketing & Communications team at

Covestro, who looks forward to learning more about cross-cultural leadership

in Shanghai.


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49

From Beauty Queen to New Media EntrepreneurJasmine Liu

By David Yu


cover story

50

Jasmine Liu has been a “Miss

Chinese” pageant contestant, the

director of corporate development

for aHongKongconglomerate, and

anewmedia entrepreneur.Nowshe

is adding another title to her already

impressive CV – CEIBS MBA student.

Howdidshego frombeautypageant

contestant to successful entrepreneur?

“It was actually serendipitous for me

to participate in the Miss Chinese

International Pageant,” she says.“I

won second place in a TV competition

programme in JiangxiProvince, and

the executives at the TV station were

soconfidentinmetheysentmetothe

pageant to represent the province.”

O r g a n i s e d b y t h e H o n g Ko n g

broadcaster TVB the Miss Chinese

InternationalPageantfeaturesChinese

contestants from around the world,

which gave Liu the opportunity to

meet peers from various cultural

b a ck g ro u n d s . “ T h e y we re f ro m

Vancouver, Chicago, Bangkok, the

Netherlands, and even Tahiti,” she

recalls. “The training was intensive but

fulfilling. Together we rehearsed our

talent performances, got prepared for

the Q&A round, and tried to deal with

all kinds of challenges.”

Liu says the experience helped her

become more independent. “I have to

admit, the contestants who grew up in

the West were more proactive and bold

when confronting challenges,” she says.

“They didn’t have any kind of ‘princess

complex’ [the loose translation of a

Chinese expression that commonly

refers to the narcisistic behaviour

seen among some young women in

China], and always tried their best

to overcome the difficulties they

encountered instead of complaining.

This still has a profound influence on

me.”

What happens when young women

with different accents and languages

come together? “We often had pretty

heated discussions over seemingly

trivial things. I still remember clearly

when some Chinese contestants from

abroad asked ‘why do some Chinese

mainlanders call the bathrvoom WC?’”

Liu says, recalling just one example.

“It was beyond the understanding

of someone who had grown up in

a different culture.” She says this

experience cultivated her critical and

independent thinking capabilities.

“We each have our own different

growth environment and educational

backgrounds, while at the same time we

are all influenced to a certain degree by

the same Chinese culture. Among such

“I won second place in a TV competition programme in Jiangxi Province, and the executives at the TV station were so confident in me they sent me to the pageant to represent the province.”


cover story

51

a group of similar yet different people,

we found a way to agree to differ, think

out of the box, critically reflect on past

knowledge, and absorb information

during discussions.”

Though she didn’t win the Miss

Chinese crown she did receive a

practical prize from the experience –

after graduating from college she was

offered a marketing job with pageant

sponsor Goldin Group which was

just entering the Chinese mainland.

Her experience as a Miss Chinese

contestant had caught the eye of senior

company executives. “I was lucky that

the company had high expectations

of me, and assigned me tasks that

were increasingly important and

complicated, such as hosting annual

partiesandorganising importantPR

activities,” she says. “I’m really grateful

for my pageant experience. Compared

to other colleagues from the mainland,

I was able to communicate more

effectively and be on better terms

with international colleagues. These

qualities are essential for a corporate

PRpractitioner.”

AsGoldin’sbusiness tookoffon the

mainland, so did Liu’s career. She was

promoted to Director of Corporate

Development for the company’s

Shanghai branch in 2013.“Because

Goldinhadjustenteredthemainland

market at that time, it valued young

team members from the mainland,

ones it had trained and who had

foreign language skills,” she says.

Talking about the promotion, she

adds, “My supervisors, colleagues,

and key clients all thought highly of

the organisational, executive, and

social skills that I demonstrated at

the company’s various big events.

I volunteered for a transfer to the

new Shanghai subsidiary in order to

take on more responsibility.” Besides

routine marketing work, Liu was also

responsible for exploring new areas for

brand promotion. She decided at the

end of 2015 to launch her own new

media company to provide content

and brand management services to

clients across different industries.

She faced a host of new leadership

chal lenges when she s tar ted her

company, but says that innovation

a n d s e n s i b i l i t y a r e i m p o r t a n t

leadership attr ibutes for women

in both the corporate and star t-

up environments. Whether she is

leading a corporate PR team where

inspiration and ideas are required,

or working to develop her own start-

up, she says both traits are part of her

own core competitiveness.

“There was a level of innovation can

be seen in Goldin’s proposals and

event planning, as well as the product

planning for my own start-up project,

and in marketing and communications,

which is subject to constant changes.

The problem we face every day is how

to make use of limited resources and

keenly observe the market, consumers,

and competitors before coming up

with an excellent revenue-generating

project to implement. Innovation plays

an especially important role here,” she

explains.

Liu adds that while innovative ideas

may make a PR newbie a master in

a short time, to be a qualified leader,

one still needs to have more profound

insight and precise grasp of one’s

team and the work environment. She

believes female leaders possess some

natural advantages, rooted in their

gender identity. “Women have a natural

advantage when it comes to empathy,

which is particularly important on

a team dominated by men. Female

leaders are better at paying attention

to and understanding team members’

various demands, and assign work and

tackle interpersonal relationships in a

more scientific way, which optimises

team communicat ions and work

efficiency,”shesays.


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52

“This is a big challenge – you have to make choices between life and work.”

But she has also discovered there are

some differences between leading

in a corporate environment, and at

a start-up. At large companies that

can guarantee every kind of material

and resources one needs, “the trial-

and-error cost for every individual

is relatively low,” she says. “Leading

a department at a big company gives

me a sense of steadiness, which comes

from the company’s own strength and

the support as well as cooperation

from team members. It allows me to

more easily find a balance between

personal life and work.”

Being an entrepreneur, Liu admits, is

more labour-intensive, in part because

she can’t just focus on the things she does

best. “Instead, I have to put my energy

into every function, including finance,

management, marketing, and operations,”

she says. “This is a big challenge – you

have to make choices between life and

work. At the same time, you need creative

planning skills as well as decisiveness and

perseverance when exploring new areas.” It

was these challenges which led her to enrol

inCEIBS’MBAProgramme.“Ihope to

grow into an all-round and really brilliant

female leader,” she says.


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53

Nurturing Female Leadership in the Tech IndustrySwati Mishra

By David Yu

Swati Mishra disag rees w i th the long-he ld

stereotype that the tech sector is a male-dominated

industry.

“Actually plenty of opportunities are available out there

in the tech sector for women,” said the CEIBS MBA 2018

student. “It depends on how every individual pursues

them and takes the challenges forward – it’s the same

for men and women. The number of women in the

workforce has been steadily increasing globally. We now

have more diverse career choices than our mothers did.

This change is quite visible in a developing country such

as India.”

Mishra earned an engineering degree from one of India’s

leading tech institutes. After graduation she began her

career in business intelligence and data analytics by

landing a highly-coveted job with Tata Consultancy

Services, where her career flourished. She delivered

complex business intelligence solutions for major clients,

handling projects with budgets upwards of 4 million

British pounds and managing a 30-person, cross-

functional team spread across multiple locations.

The responsibilities and challenges of managing such

a diverse team allowed Mishra to hone her leadership

skills. “I am a performance-driven individual with a


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54

strong inclination to establish and

nurture relationships; I do enjoy my

role as a leader,” she said. “As a female

leader I bring ‘social sensitivity’ to the

table. It is essential for managing a

global and cross-functional team, and

requires a team leader to have a high

level of emotional intelligence in order

to read the social contexts and cues

of the team. A true leader must not

be indifferent – you should know and

understand what makes your team

members happy and unhappy. This

enabled me to earn a lot of respect

from my team members who were

both junior and senior to me.”

Mishr a be l i e ves that pr ac t i c ing

participative leadership, which engages

team members in becoming leaders

themselves, can foster more innovation

within a team. “When leading several

projects at the same time I have to

multi-task, entrust my team with the

operational details, and give them

the freedom to try and innovate,” she

explains. “But I always took personal

responsibility for any mistakes in front

of the clients, which elevated the trust

the team placed in me.”

After spending more than four years

at Tata, Mishra left to join a business

intelligence start-up where she was

the only female. She led product

innovation for two of the company’s

m a j o r c l o u d p r o d u c t s w h i c h

generated 40% of its total annual

revenue.

The leap into entrepreneurship gave

her a new set of chal lenges. She

had to learn how to switch from

a process-oriented, task-assigned

corporate leadership role to leading

within a dynamic start-up venture

with few processes and constantly

changing responsibilities. This is

what led her to enrol in the CEIBS

MBA Programme.“I used to wear

different hats at work every day –

being a sales person, technical expert,

project leader and client relationship

manager,” she said. “These different

ro l e s a c tua l l y m a de for a g rea t

learning exper ience. Since there

are no assigned roles, leadership

demands a proactive and action-

dr iven approach which involves

taking bold initiatives and risks. This

is what I wish to learn here at CEIBS.”

“These different roles actually made for a great learning experience. ”


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55

Family Business Heir and Global CitizenFlavia Zhong

By David Yu

MBA 2018 student Flavia

Zhong is a truly global

citizen. An avid traveller,

she has been to 24 countries and

regions over the past 12 years, attending

school and working in four of them.

She returned to China in 2015 to help

her family start a private aircraft and

yacht manufacturing business, and is

also developing her own business, a

healthyrestaurantchaincalledBeneFit

InnovativeHealthyDiet.

Her time abroad has expanded her

knowledge and her vision. “These

experiences helded me to understand

different people and environments,

making me more active and open-

minded,” she says, adding that they

alsobenefitedhercareer.“Icanusemy

imagination to conceive a new business

idea. For example, when designing

the restaurant, I incorporated many

elements from different countries

inc luding a l l k inds of cuis ines ,

operational models, service details,

and decor. This made my restaurant

excellent, taking in all the best ideas

from around the world.”

“Sometimes friends see an Italian or

an American in my personality,” she

says with a smile. “Travelling in various

countries and talking to people from

different cultural backgrounds enabled

me to learn about the good qualities

of others and their unique wisdom.

Because my living environment was

changing so often, after meeting all

kinds of people, I gradually came to

realise all people share some common

characteristics underneath our so-

called cultural differences. This allows

me to better observe the characters and

feelings of others.”

Strong people skills is one of the most

important elements of leadership as

truly understanding people is a valuable

toolforeveryleader.Flaviaadmitsit’s

currently her most challenging problem.

The University of California, Davis

graduate began her career as a project

analyst at the private merchant bank

Forbes&ManhattaninToronto,Canada.

After returning to China in 2015, she

began helping her family start their

manufacturing business, and found she

needed a different set of leadership skills.

“Compared with being a bank analyst,

setting up a family business requires

more interpersonal interactions,” she

says. “Although I could participate in

some of the decision-making during

the start-up phase, I was still protected

by senior family members when

dealing with the local governments and

investors, so I have been kept away from

the most challenging problems, for

instance how to handle the relationships

between me and my immediate family

and other family members both inside

and outside of the company. ”

Flavia’s leadership skills were not

evident until she started her own

business. “I am trying to set up my

own chain of restaurants. The word

‘entrepreneur’ indicates I have to be

a leader in decision making, and an

executor who knows how to carry out

these plans,” she says. “I have to be

independent, get used to living with

pressures from every side, and consider

every single problem comprehensively,

whether big or small, including site

se lect ion, investment , products ,

operation and promotion.”


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56

Family Business Heir and Global CitizenFlavia Zhong

By David Yu

With the experiences of family business management and

entrepreneurshipunderherbelt,Flaviabelieveswomen

leaders are a precious commodity for the business world.

Compared to their male counterparts, women in leadership

positionsmusthaveatleastfivecorecompetencies,shesays.

These include being detail-oriented, insightful about other

people and issues, having good communication skills, as

well as toughness while confronting challenges – knowing

how to conquer the unyielding by yielding to overcome

difficultiesandchallenges.

“Forexample,wecanaddmoreconsiderationforsocial

responsibility into the business decision-making process,”

she says. Social responsibility is, without question, the

key to knowing whether a catering company is good

or bad, she explains with an example from an industry

she knows well. “I believe that women are born with an

empathy that helps us know ourselves, so we can better

developandimproveothers,”saysFlavia.“Forinstance,

my business focuses on a healthy diet aimed at women

who want to eat light meals.”

“Ofcourse,thoughwomenmake-uphalfoftheworld’s

population, we must remember business today is still

ruledbymen!”Flaviasays.“Ihavefoundthatinsucha

male-dominated world, we are badly in need of women

to communicate and come together, to build bridges

and smooth out contradictions – and I want to be one

of them”

“My business focuses on a healthy diet aimed at women who want to eat light meals. ”


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57

Marcom Manager Hones Cross-cultural Leadership Skills at CEIBSLaura Loof

By David Yu

German MBA 2018 student

LauraLooffirstwentabroad

as a child, living in the US

city of Pittsburgh. After returning

to Germany, she earned a Chamber

of Commerce certified degree from

Junior Management School, a high

school dedicated to initiating young

people into the bus iness wor ld .

She began her career r ight af ter

high school, joining the Leadership

DevelopmentProgrammeofaGerman

chemical company.

“ I w a s s e l e c te d for a f a s t t r a ck

leadership development programme,

which comprised full-time on-the-

job training and company-sponsored

university education in the evenings

and on weekends,” she explains. The

programme was quite intense – Loof

rotated through different departments,

including Procurement, Marketing,

C o m m u n i c a t i o n s a n d P r o j e c t

Control, which helped her gain a deep

understanding of the company and the

chemical industry. “The programme

sharpened my business sense, improved

my time-management skills and helped

me develop as a leader,” she says.

Hermostrecent job,beforeenrolling

in theCEIBSMBAProgramme,was

as a marketing and communications

manager at Covestro, formerly Bayer

MaterialScience. It deepened her

understanding of leadership and the

importance of credibility. “Being

one of the youngest members of my

department, I have managed to build

credibility by being very passionate

and confident about my work,” she

says. “I think it is important for

women to use a leadership style that

comes naturally to them, while not

being afraid to stand their ground

when they know they have the best

idea or right path forward.”

“In a constantly changing global environment, I believe that leaders must be able to adopt both a global and local perspective. ”


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58

Lo of n ow prov i de s s t r a te g i c

s u p p o r t f o r p r o m o t i n g h e r

c o m p a n y ’s n e w i d e n t i t y a s

i t t r a n s i t i o n s f r o m B a y e r

MaterialScience to Covestro. This

demanding mission requires a

more international perspective and

more comprehensive leadership

skills. That is why she has chosen to

do an MBA at CEIBS in Shanghai;

she wants to develop cross-cultural

leadership skills in one of the

world’s most dynamic economic

hubs. “In a constantly changing

global environment, I believe that

leaders must be able to adopt both

a global and local perspective,” she

says. “I think that the CEIBS MBA

journey, with its ‘China depth,

Global breadth’ perspective and

interactions between the members

of its diverse international student

body, is a great opportunity to

enhance these skills.”


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59

When the World is your Oyster

By Lei Na


cover story

60

With the start of each new

semester of the CEIBS

MBA programme, as I

stroll around the school’sHongfeng

Road campus, I am always gripped

by the feeling that I’m somewhere

else. The invigorating fragrance from

Osmanthus plants sprinkled across

the campus is the perfect backdrop as

I look around at what appears to be a

miniatureoftheUnitedNations:eager

young faces, each with its own subtle

cultural variations. The ‘newbies’

have arrived, bringing with them a

palpable ‘breath of fresh air’, a feeling

of excitement.

How have their my r iad cul tura l

backgrounds and life experiences

shaped these young people who

a re d e te r m i n e d to e xce l i n t h e

business world? This is the topic

being explored in this section of the

Cover Story. We introduce you to

GoNakanishiwhowasborninParis,

grew up in Japan, went to college in

Sydney, and now sees China as the

best country for entrepreneurship.

He wants to be a bridge between

Japanese technology companies and

the Chinese market. Then there is

Dmitriy Likhachev, whose past roles

include being an industrial thermal

engineer in Russia and a teacher at

Zhejiang University (after getting a

PhDdegree fromHarbinInstituteof

Technology). He now sees China as

his second home.

Meanwhile Australian Dwight van

Diem, with an enviable investment

banking background under his belt,

is still looking forward to rekindling

his engineering career so he can create

something tangible, something that he

canbeproudof. Incontrast,Korean

Yoonhee Lee knows exactly what he

will be doing after his MBA, which is

being funded courtesy of a scholarship

fromtheSamsungGroup.Hebelieves

he will spend his entire professional

lifeat thecompanyasSouthKoreans

often remain with one organisation

for their entire career, unlike China

where job-hopping is the norm.

Constant motion is familiar territory

forChinesenationalLuoHao.Heused

to be responsible for financial affairs

at the rail transport manufacturer

Alstom. But after traveling to 25

countries, he hopes to break into the

tourism and leisure industry where his

passion for seeing the world and the

management knowledge he will learn

at CEIBS can complement each other.

These are just some of the 191 students from the MBA Class of 2018. When such a

diverse group of young people come together, what are the inspirational moments

that will follow and how will this impact the future business community? I can’t

wait toseewhathappens.Fornow,readon formoreabout these fascinating

individuals in:

- BuildingBridges:featuringGoNakanishifromJapan,DwightvanDiemfrom

Australia,DmitriyLikhachevfromRussia,andYoonheeLeefromSouthKorea;

- LiaoBin’sDaysatHuaweiBrazil;

- LuoHao:AKnackforLowCostTravel;and

- FangLv:ExperiencingDubai.


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61

Building BridgesInternational MBA 2018 Students See Opportunity in China

By Janine Coughlin

WhenGoNakanishi travelsaroundChina,heoftenstudies

localrestaurantstaffwhiledining.Howefficientarethey?

Do they provide good service? These things indicate to a

newcomer what it would be like to do business in that area, he says. Such

detailsareimportanttoanaspiringentrepreneurlikeNakanishi.Bornin

Paris,hewasraisedinJapan,andwhileinuniversityspenttimeinSydney,

Australia after being chosen by the Australian Embassy in Japan to serve

as a student ambassador to promote exchanges between students in the

twocountries.Now,aftertwoyearsworkinginShanghai,hebelievesthat

China is the best place for him to start a business, and CEIBS the best

place to polish his management skills.

“In order to be an entrepreneur I feel I need more experience in

management,”Nakanishiexplains.“Alotofmycolleaguesandmyboss

[from my last job] recommended this business school. Everyone said

CEIBS is the best in China. The most important thing for me at this point

is to improve my leadership skills in China. CEIBS is all about studying

business here; it is part of the school’s philosophy, its ‘China Depth’.”


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62

Among the MBA 2018 cohort, 29% are

international students, hailing from

20 countries and territories. Whether

theyareentrepreneurs likeNakanishi,

or career switchers or just looking to

boost their management skills, for

many it was CEIBS ‘China Depth’ that

brought them to Shanghai to study for

the next year-and-a-half.

“I’ve always wanted to do an MBA and

I believe in the years ahead the Chinese

economy wil l only become more

important to the rest of the world; it is

already leading in some sectors,” says

Dwight van Diem, an Australian with

an engineering degree who spent more

than nine years working in investment

banking in London, before a job

transfer with Credit Suisse brought him

toShanghai.“HavinganMBAhere is

going to be invaluable in the future.”

Van Diem wants to move back to the

engineering world after completing his

MBA.“Previously I liked the finance

world, its high energy, there’s a lot of

problem solving which I used to get in

engineering. But there is just a lack of

value creation, in my opinion. There

is nothing tangible that you have at

the end of it – it’s mostly just ones

and zeros,” he says. “I want to take my

financeexperienceandmyengineering

background and go work at a company

where at the end of the day I can say ‘I

helped create that’.”

OncehecompleteshisMBA,hewants

to work at a multinational, either in

China or Europe. “I like working for

multinationals because you get to work

with people from different cultures

who are on different teams around

the world,” he says, noting that if he

ends up back in Europe, it may even

be with a Chinese company, as more of

them go global and enter the European

market. “I wouldn’t be surprised if in

two or three years there are quite a few

big Chinese multinationals around the

world.”

O n e o f t h e t h i n g s h e h a s b e e n

enjoying at CEIBS is its multicultural

environment. “I’ve never been in a

situation before where you can meet so

many different people from so many

different backgrounds and have a chat

with them about what they were doing

before. I really enjoy it.”

Like van Diem, Nakanishi is also

looking to leverage his engineering

background while building on his

“Having an MBA here is going to be invaluable in the future.”


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63

managementskillsduringhistimeatCEIBS.Hebeganhiscareer

asanR&DengineeratBASFinJapan,whichhesaysencourages

employees to be entrepreneurial. It is where he first got the

motivationtostarthisownbusiness.HisChinajourneystarted

inHongKong,wherehetookabusinessdevelopmentjobwith

a start-up technology company. After two years he moved to

Beijing where he studied Chinese full-time for a semester before

takingajobintheShanghaiofficeofaJapanesepharmaceutical

company. While there he spent a year leading a team charged

with exploring merger and acquisition opportunities with

local companies, and won a company award after successfully

concluding a deal with a company in Shenyang.

In the future,Nakanishiseeshimselfbeingabridgebetween

Japanese technology companies and the Chinese market, perhaps

first as a consultant.Hehopes to eventuallybeable toput

together enough capital to purchase technology or a particular

product in Japan that he can introduce to China’s fast-growing

healthcare market.

Meanwhile his Russian classmate Dmitriy Likhachev is a career

switcher with an entrepreneurial mind-set. After graduating

withhonoursfromSiberianFederalUniversityinRussiaasan

EngineerinIndustrialHeatPowerhespenttwoyearsworkingat

aresearchanddevelopmentcentreaffiliatedwiththeuniversity.

Hegotapatentforatechnologyhecreatedthere.Hisnextstep

on what he thought would be a career in academia was to earn

aPhDfromHarbinUniversityofTechnology inChina,and

then a job with Zhejiang University, where he was awarded an

RMB50,000 research grant from the Chinese government. But

after six years in academia, he wanted a change.

“China is an environment that I understand.”


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64

“I was excited about mentoring students, managing their

projects to the highest level of quality, and advising them

on how to present their ideas to high-impact journals,”

he says. “I think I could utilise these skills in the role of

strategic planner or strategic planning consultant in the

energy sector.”

HiscurrentplanistolookforopportunitiesinChinaonce

completing his MBA. “I haven’t lived in Russia for eight

years, I have lost track of what is going on there,” he says.

“When I go to Russia I look like a native but feel like a

tourist. China is an environment that I understand.”

TheChinamarketisalsoafamiliaronetoKoreanYoonhee

(Uni)Lee.Heisluckytobeoneof30Samsungemployees

chosen to receive a company scholarship to do their MBA

studyabroad.Hesaysaround2,000peopleapplied;heis

amongtheeightwhoarestudyinginChina,andthefirst

that the company has sent to CEIBS. “I was also admitted

toPekingUniversitybutbecauseIalreadyhadsix-years’

experience studying there, I didn’t want to do that,” he

says. “Also, I had heard that many of my customers have

donetheCEIBSEMBAProgramme,soIconvincedthe

HRpersoninSamsungtogivemethechancetoapplyto

CEIBS.”

Lee had been working in sales for Samsung Electronics’

semi-conductor division, and his clients have included

Chinese mobile phone manufacturers such as Xiaomi and

Oppo.OncehecompleteshisMBAhewillreturntowork

atSamsung,whichisrequiredofscholarshiprecipients.He

expects to be with the company for the rest of his career,

whichhesaysistypicalinKorea.

While in Shanghai, he intends to savour every moment of

hisMBAjourney.“OnethingIhavereallythoughtabout

is how to have a good experience here,” he says. “Everyone

has exactly the same amount of time – 18 months. Time

isaresource.Howtousethistimeismostimportant.To

me,theGPAisnotthemostimportantthing–itismore

important for us to get to know each other and to make

the most of this experience.”

“Time is a resource. How to use this time is most important. ”


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65

Liao Bin’s Days at Huawei Brazil By Lei Na

Wh e n h i s u n i v e r s i t y ’s

Expedition Association

o r g a n i s e d a c y c l i n g

tour to Tibet over the summer break

in 2006, Liao Bin signed up. The

2,300-kilometre journey took him

and his 15 fellow cyclers a month to

complete. Along the way some suffered

from altitude sickness, others were

injured falling from their bicycle, and

a few were even hit by cars. Despite

the challenges the group reached their

destination, and the experience made

Liao realise how much he enjoys the

challenge of exploring the unknown.

H o p i n g t o w o r k a b r o a d a f t e r

completinghisdegree in2007,Liao

joined the Chinese multinational

Huawei,a leadingglobal information

and communications technology

solutions provider. Three years in, he

had the opportunity to work abroad.

Intrigued by the idea of working in a

non-English-speaking country that was

not very familiar to most Chinese, he

chose Brazil.

He was soon to be challenged by

more than the language and cultural

differences. Brazil was one of the

company’s worst performing regions. It

hadnotmadeaprofitinover13years.

A leaderoftensummarisedHuawei’s

situation there with five “basicallys”

– bas ica l ly no p lan, purchas ing

basically depending on face-to-face

communication, delivery basically

done by walking, IT basically relied

on bare hands, and basically there

were no friends who could help with

purchasing.

Liao was put on a big project almost

immediately after arriving. He had

to develop and implement a plan for

optimising the process for dealing

with local materials in Brazil. This

included everything from sales to

suppliers and would involve an IT

platform upgrade, sourcing, planning,

product configuration, the quotation

p ro c e s s , co s t m a n a g e m e n t a n d

inventory liquidation. Usually one to

embrace a challenge, this one seemed

quite daunting to Liao. Still, he was

determined to fulfil his assignment.

With help from the regional president,

he met w i th l eaders f rom many

secondary departments and set up a

project team numbering more than 50

people. As he moved forward, he realised

that since half the team was located in

China and the rest were in various cities

around Brazil, communication costs

were toohigh. He streamlined their

communications by breaking the group

into sub-teams and dividing the work

between them. Though there would end

up being more than 100 people involved

in the project, he only needed to speak

with the leaders of the seven sub-teams.


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66

Howeverthiswasonlyoneofthemany

problems he needed to solve. The

inefficiency was beyond imagination.

At that time Huawei Brazil had no

IT platform for purchasing, all order

information from clients was submitted

through exce l forms, even for a

purchase worth more than US$100

million. Liao gathered all the excel

forms – more than 2,000 of them – and

spent more than two hours each day

going through each one and sorting

the data into a table that would be used

to create a localised IT platform. This

also helped him better understand

customer demand, and he worked with

the sales team to develop a strategy for

combining products to help boost sales.

The result of his efforts was RMB500

million in savings for the company

and Liao received the company’s global

President’sPrizeandtheBraziloffice’s

GoldenPrizein2013.Whenhejoined

HuaweiBrazil in2010, thecompany

thenhadsalesvolumeofaboutUS$1

billion. Two years later the number was

ashighasUS$1.4billion.Butmore

importantly, with Liao focused on

supply chain management, purchases

dropped to US$50 million in 2012

(fromUS$130million in2010)and

inventories dropped from RMB300

milliontoRMB30million.

Despite the pressures of his job,

Liao found t ime to enjoy l i fe in

Brazil outside of the office. He says

Brazilians are very hospitable people.

“My colleague’s mother cannot speak

Chinese or English, but would invite us

to her place for meals. When we arrived

she warmly embraced each of us,” he

explains.“IfyoucanspeakPortuguese,

you can enjoy long conversations with

elderly people while on the road. It’s

common to see young guys spend the

afternoon chatting with each other

outside over a beer.”

He also learned a lot from his time

at Huawei.“There are hundreds of

thousands of links within a project.

At the front end there is meeting the

clients, then there is the completion of

deliverables and collecting payment.

Each part is linked,” he says. “My work

is one of the links, and if my link is

broken, then all the efforts made in

the previous links are affected, and

the resources prepared for later links

could be delayed, or even wasted.

EveryonesaysthatHuaweiemployees

are under great pressure, and I think

the real reason is that, driven by our

sense of responsibility, we have to solve

problems for clients and always do our

best for them.”

Havingsuccessfullycompletedthebig

optimisation project, Liao began to

thinkabout returning to school.He

quit his job and returned to China,

enrolling in CEIBS MBA Class of 2018,

where he is making a career transition

to entrepreneurship. In addition to

studying, he is also partner in a start-

upthatfocusesonoverseasstudy.Heis

optimistic about the education industry.

Though starting a business has certainly

been challenging, as always, Liao is

determinedtoforgeahead.Heisalso

enjoying the switch to being a service

provider after so many years working

on the purchasing side at Huawei.

“Spending more t ime contacting

customers means getting more cold

shoulders and more frustration, but it

will also give me more experience and

make me a better person,” he says.

“It’s common to see young guys spend the afternoon chatting with each other outside over a beer. ”


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67

A Knack for Low Cost TravelLuo Hao

By Lei Na

Right after he graduated from

the Shanghai University of

Finance and Economics’

departmentof economics,LuoHao

(CEIBS MBA 2018) joinedAlstom,

one of the world’s leading companies

in therail transportmarket.His job

took him to Paris, then São Paulo.

While in the Brazilian city, he was

responsible for the financial affairs

of the company’s biggest railway-

signalling-system project.

In addition to the important role he

played at Alstom, Luo also found time

to indulge his love of travelling and

hisphotographyskills.He’stheauthor

of Qiongyou, a travel guide that

focuses on three cities: Rio de Janeiro

andSãoPaulo inBrazil, alongwith

MachuPicchuinPeru.AstheEnglish

translation of its name implies, the

guide is for those on a budget. Luo’s

photos and travel t ips were also

often carried in Chinese language

publications such as One (anonline

magazine whose Editor-in-Chief

is well known thought leader Han

Han)andTheEconomicObserver (a

weekly newspaper). In an interview

with TheLINK , he shares stories from

his travels:

TheLINK: What’s your impression of

Paris and São Paulo?

Unquestionably, Paris is one of the

most beautiful cities in the world. I

spent my year there visiting museums

andcastles.However,there’sonlyone

shortcoming: its beauty was as I had

imagined; it was too predictable, not

surprising at all. So after my work in

Pariscametoanend,Idecidednotto

stay on. I applied for a post in South

America, the furthest continent from

China, and I stayed there for five

years.

Compared to Paris , Brazi l was a

d i f f e ren t wor l d en t i re ly. T h ere

was graffiti everywhere, it had an

undeveloped economy, the labour

force was inefficient and 90% of the

population was not able to speak

English… On the other hand, they


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68

had the largest carnival in the world.

During the spectacular event, there

were more than two million people

in each city, gathering in the streets

for five days and nights. Brazil also

has the four-kilometre-wide Iguazu

Falls. Imagine, therunningpath ina

typical stadium is usually 400 metres

long, so you would have to run 10 laps

tofinishthewidthofthefalls…Only

after I went to Brazil did I realise how

big the world is!

TheLINK : What advice do you have

for Chinese nationals on how to fit

into the local environment when

working overseas?

I was the only Chinese among the

company’s 1,000 employees in Brazil.

People often regard Brazi l as an

unsafe place, so I guess there were

not many Chinese applicants. When

I landed in Brazil, I could not speak

any Portuguese, and I experienced

culture shock every day. Only after

some t ime did I get used to the

locals’ habit of being late, and their

aesthetics – which is so different from

that of Chinese.

I was responsible for the financial

aspects of the s ignal l ing-system

project for three major metro lines.

Therewereunits fromBrazil,France,

Italy and Canada working on the

€350-mil l ion project. Before the

openingofFootballWorldCup2014,

metro line 3 connected São Paulo’s

downtown with the event’s major

venue, Arena Corinthians. It was a

very convenient way to get to the

arena and I took the line when I went

to watch two World Cup matches.

TheLINK : You have been to many

countries in South America, Europe

and Asia. Which impressed you most?

I have been to 25 counties, and it’s not

a big number compared to the number

of countries seen by some CEIBS

studentsandalumni.However,maybe

there are not so many people who are

as familiar with South America as I

am. It’s hard to say which experience

was the most impressive, because I

have had so many unforgettable trips.

Oneofthemwasmyvisit toBolivia’s

“Mirror of the Sky”, Salar de Uyuni.

It is the world’s largest salt flat. Every

February, rainwaterwill leavea thin

layer of ice on its surface, transforming

it into a huge mirror that reflects the

sky. At night, the ethereal curve of

the Milky Way hangs overhead across

the sky. It is reflected in the “Mirror

“Only after I went to Brazil did I realise how big the world is! ”


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69

of the Sky” under your feet, and you

are standing right in the middle of a

circle consisting of the Milky Way and

its reflection. It isastonishing.Other

unforgettable experiences include

seeing pink dolphins in the Amazon

Jungle; the “City in the Sky” in Machu

Picchu,Peru;thesunriseatCordillera

Paine inChile; andMontBlanc, the

highest peak of the Alps, which I

climbed this July.

T h e L I N K : Why d i d yo u c h o o s e

the CEIBS MBA, and what’s your

expectation of the next 18 months?

From the moment I began to work

overseas, my plan always included

returning to China. During the seven

years I was away, China has seen so

much change. I was shocked every

timeIcamebackhome.For instance,

in South America it’s impossible to use

mobile payment to pay your taxi fare,

but that’s very common in China now.

There were two reasons I chose CEIBS

asmyfirststop.Ononehand,Iwant

to learn more about China, which is

now both familiar and strange to me,

and I also want to meet new people.

Now like many of my classmates, I

am trying to catch up with the CEIBS

MBA’s fast pace and learn how to

effectivelymanagemy time. On the

other hand, I am trying to join more

student organisations, and improve

my communication skills as well as my

leadership ability.

“From the moment I began to work overseas, my plan always included returning to China.”


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70

TheLINK: What is your plan for your post-MBA career?

I love travelling around, and initially my plan was to be in

the tourism and leisure industry, helping people who want

to travel or go vacationing by using my expertise and the

managementknowledgeCEIBSisgoingtoteachme.However,

after joining CEIBS, I have learned from classmates from

different industries and cultural backgrounds that there are

still so many interesting industries out there. I will remain

curious and keep an open mind so that I can broaden my

horizonsduringmyCEIBSstudy.IfIfindacareerpathmore

suitable for me, I may just give it a try.


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71

Experiencing DubaiFang Lv

By Lei Na

Judging by her slender elegance, one wouldn’t

think thatFangLvknowshowtoholdup

a skyscraper. But looks are deceiving; she’s

a geo-environmental engineer. She chose this

niche field of study, which involves analysing

soil and its ability to support various structures,

in part because it enables her to play a role

in improving the environment. “It is a very

demanding field because you are required

to remain in the lab all the time, working

on endless experiments and research.

But I wanted to be more hands

on, to get out there and do as

much as I could to combat

the increasingly serious

global environmental

issues facing us,” she

explains.


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72

After earning a Master’s from Cardiff

University in Wales, she was recruited

by the top engineering consulting

firm, Atkins, for their management

trainee programme. On a whim,

while planning a holiday in Dubai,

she posted her résumé on a United

ArabEmirates(UAE)jobrecruitment

website. She was rewarded with a

new position working in the bustling

metropolis of Dubai.

An avid scuba diver who recently

e a r n e d h e r O p e n Wa t e r d i v i n g

license,Fangcomparesher interest in

exploring different cultures to a fish

thatfindsitselfinunfamiliarterritory.

“You just need to swim straight into

it,” she says. She recently sat down with

TheLINK to share her experiences

living in Dubai, and explain why she

decided to return to China and enrol

intheCEIBSMBAProgramme.

TheLINK : Why did you choose to

work in Dubai?

My f i r s t job was w i th Atk ins , a

multinational engineering consultancy

firm which had many major projects

in Dubai. During the first decade

of the 21st century we have seen

the rapid urban development of

Dubai. The city is now home to the

world’s tallest tower, the largest man-

made island and the biggest indoor

shoppingcentres in theworld.From

an engineer’s perspective Dubai is

Disneyland.

In the summer of 2010, I was planning

to visit Dubai for a holiday. Before I

set out, I uploaded my resume to the

leading recruitment website in the

UAE, Bayt.com. Before I even arrived

in the city I had several invitations

for job interviews. On the final day

of my vacation I not only enjoyed

the beautiful beaches, explored the

landscape and sampled the local

cuisine, I was also able to land a dream

opportunity in an engineer’s paradise.

I was of fered a business analyst

posit ion with Topaz Energy and

Marine, which I gleefully accepted.

ThatOctoberIsaidfarewelltotheUK

and returned to Dubai to begin the

next chapter in my life.

TheLINK : You seem to have gotten

this job rather easily. Why do you

think that is?

Thanks to the rapid development of

the Chinese economy at that time,

Chinese petroleum companies were

expanding into Dubai. Topaz was

keen to strengthen its ties with these

Chinese companies, so the company

was looking for professionals who


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73

not only understood the technical

side of engineering but also had good

business common-sense and were

also familiar with the Chinese market

and could support Topaz’s business

development. It was as if the role was

tailor-made for me.

TheLINK : Dubai is a mythical place

to Chinese; can you tell us what it was

like to live there?

Dubai has a culture that is both

conservative and open. Like the rest of

the UAE Dubai is Muslim and strongly

follows the doctrine of Islam. For

example they pray five times a day;

the first time is called the morning

ceremony and takes place at dawn.

The second is called the Zuhr and is

done in the afternoon, third is the

preserved ceremony and takes place at

dusk. The forth is Maghrib and occurs

intheevening.Finally there is Isha’a,

the evening prayer. The prayers are

observed all across the city at exactly

the same time. During my first few

weeks in Dubai I was often awakened

by the morning call to prayer being

broadcast from loudspeakers at the

local mosque; the tune is melodically

long and high. Many times during

bus rides we would stop suddenly on

the road, the driver would disembark,

lay a mat on the ground, face towards

Mecca and begin to pray.

As I spoke with more of the local

people, I learned that many of the local

traditions stem from goodwill. Many

believe that through the observation of

the holy month of Ramadan man can

achieve self-control and purification.

Once you understand the reasons

behind the cultural differences you

will have a deeper respect for them.

Dubai is very tolerant of foreigners,

who, in turn, appreciate this level of

courtesy. During Ramadan, when

Muslims fast during daylight hours,

though foreigners are permitted to eat

most don’t do so in public in order to

show our respect to their customs.

Another characteristic of Dubai is that

the city balances both modern and

traditional elements. The modernity

is seen in its many buildings. Dubai

has the largest shopping mall, with

an indoor ski slope, a massive theme

park inspired by Ferrari and the

world’s first7-starhotel, theBurjAl

Arab, a project funded by Dubai Sheik

Mohammed. The Sheik believes that

the tourist industry will drive a second

age of prosperity once the nation’s oil

and gas resources are exhausted. It

was a bold move that seems to have

paid-off, as today Dubai’s economy is

largely supported by high-end tourism

and aviation.

Sheik Mohammed has a famous

saying,“People will remember the

first in the world, but no one will

“I hope to help advance our society by leveraging my power and influence. ”


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74

in Dubai I kept an eye on China’s

development, and in fall 2012 was

presented with an incredible offer

from the Shanghai headquarters of a

century-oldengineeringfirm.Despite

Dubai’s internationalisation and

exoticism, I felt this new opportunity

was too good to turn down. I left

Dubai to return home.

TheLINK: What made you want to do

your MBA at CEIBS?

When I decided to do an MBA I

chose CEIBS for two reasons. First,

with my background in engineering

and manufacturing I have a unique

insight into the world of engineering

and now wanted a more systematic

understanding of business. Second,

my brother-in-law is a CEIBS alumnus

and he often told me about all the

act iv i t ies and major events that

CEIBS organised. As I watched his

metamorphosis while attending CEIBS

I grew to love the idea of studying here

myself, to experience this incredible

academicatmospherefirst-hand.

CEI B S i s a n exce l l en t p la t for m

from which you can ge t a t ru ly

g l o b a l v i e w a n d g a i n r i g o r o u s

business knowledge. I fully expect

to continue my career by working

at a multinational company after

graduation. I would like to help an

organisation solve complex problems

by combining my inter nat iona l

and industry experience with what

I learned at CEIBS. I hope to help

advance our society by leveraging my

power and influence.

remember the second.” The Sheik is

averypopularfigurewithhispeople.

While living in Dubai I heard that

he regularly travelled between work

and home by himself, without the

bodyguard detail you might expect. So

whenever I saw cars like the Sheiks’, I

paid extra attention, hoping to get a

chance to meet the man himself – but

I had no luck.

TheLINK : Why did you return to

China?

C h i n a i s d e v e l o p i n g a t a n

unprecedented rate, and such

r ap id g row th has a t t r ac ted

worldwide attention, presenting

countless career opportunities

for overseas students. While


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75


In early October the Chinese government gave the green light for a debt-equity

swap project to go ahead. The controversial plan was first announced during

a press conference following the last National People’s Congress and since then

there has been speculation about what it means for the Chinese economy. This

April, shortly after the initial announcement, CEIBS Professor of Economics &

Finance Xu Bin explained what this would mean for those buying China’s bad

debt and suggested ways in which the government – within the framework of

the country’s New Normal – can potentially pull it off.

Will a debt-equity swap get rid of China’s bad debt?

ceibs KNOWLeDGe

76


What are the pros and cons of

this swap?

Xu Bin: It’s a swap, so the question is:

between whom? That is going to be an

issue.

The essence of this debt-equity

swap is to shift the risk that is now

concentrated in the hands of the

government to a broader pool. If

it’s concentrated in the hands of

government, that is a systematic risk.

But if it is shared by companies and

households, that risk is definitely less in

[an] aggregate sense as each party holds

a much smaller share. So technically it’s

a very smart move.

How e ve r I wo r r y a b o u t t h e

distribution inequality side. By nature,

these products will have an element of

risk. Ordinary investors who do not

understand these types of products

should be very cautious in investing. I

would be very much against packaging

these bad loans in a ver y vague,

unclear way then selling them in the

market to people who do not have

some knowledge of these kinds of

instruments. This would be like ripping

off the Chinese people, ordinary people

who are presumably the owners of all

state assets, according to the principles

of socialism or communism.

However, I want to make it clear

that the central government, Premier

Li Keqiang, has very good intentions

with this plan. It’s not a scheme to trick

people. The government is basically

trying to find a way to reduce the risk

of China’s debt crisis, which is not only

good for China but also good for the

global economy. I am not against that

method. I just think that it should be

implemented in a transparent way, in

a market-oriented way. That means

making the prices right, and making

the content right.

If you follow the rules of the

market, some people like to take risk;

some people have the ability to convert

the government’s bad debts into good

private equity. If you auction off a state-

run company with a lot of bad debts,

there may be some private companies

who are willing to take the chance to

run them. If they run them successfully,

that would be a very successful debt-

equity swap.

So it can be done in a transparent,

market-oriented way. I would very

much like to see this happen. I’m happy

the government has made it clear that

they are going to use this approach of

a debt-equity swap. No matter how

you interpret it, this is a first step. At

least now we have an indication of

the direction they plan to take. This

opens the door for better designing of

their plan. If we look at the experiences

of the past 2 to 3 years, the more you

make government policy vague, opaque

and not easily understood, the worse

result you get.

With all the government’s good

intentions, with all their good planning

for the next 5 to 10 years, one thing we

have to realise is that the New Normal

is also about new ways of implementing

policies. It’s about more transparency,

more communication with people,

with the market, and more discussions

among scholars, more careful designing

ceibs KNOWLeDGe

77


Xu Bin: I think the debt-equity swap will take centre stage

in resolving China’s bad debt issue. How exactly it will be

done, we really do not know at this point [in April 2016].

But I expect that it would be similar to what they did in

2002 to 2004.

At the time the official numbers for non-performing

loans at China’s four major state-owned banks was very

high, about 20%. So the whole world was worried about

this issue. Then, the Chinese government was calling their

solution ‘converting bad debt to bad or good equity’. Now

it’s being called a debt-equity swap.

Back then the approach was to first separate the

good and bad debts and put the bad debts into a separate

company. The second step was to list those four major

state-owned banks in China’s A Share market, and so

How the swap would be done

of methods. That is what’s going to increase the likelihood

of success, which is desperately needed by both the Chinese

economy and the global economy, which is faltering and

hoping that China will pull it in a

positive direction.

I think the government is learning

how to be a better communicator. So,

to be fair, we need to give them some

time.

Is this debt-equity swap just

a matter of pushing the toxic

debt from one place to another

without really addressing the

underlying problem?

Xu Bin: That’s a very fundamental

question. I think we have to look at it

from several perspectives.

First, as I said before, diversifying is the right way to go

as it reduces the amount of risk that’s concentrated in the

hands of the government.

Second, there’s a chance that there’s a percentage of

these bad debts that will be converted to good equity – if

the conversion method is carefully designed. It’s a big if,

but it is technically possible. Many

countries have done it before. If

we design a more market-oriented,

more transparent, more long-term

looking method and allow the

private sector to be involved then

I think there is a good percentage

of that bad debt which can be

converted to good equity. So that’s

point #2. I think that also should be

recognised.

Then, point #3, there is still

a part which will transfer hands

but cannot really be transformed

that easily from bad debts to good

equity. So if they are converted they become bad equity.

For that part I think the government should take more

responsibility to absorb it in a transparent and fair way.

There is a good

percentage of that

bad debt which can

be converted to good

equity.

ceibs KNOWLeDGe

78

theLINK Volume 4, 2016theLINK Volume 4, 2016

they became equity shares. At the

same t ime they inv ited strateg ic

partners from major international

b a n k s a n d c o r p o r a t i o n s – l i ke

Citibank, HSBC. Many of these big

western banks benefitted a lot from

their shares in these Chinese state-

owned banks when they later listed,

and some of them made a fortune by

selling these shares during the global

financial crisis.

So with that approach, the non-

performing loan ratios of those state-

owned banks became very low and they

are now public companies – at least

on the face of it – and their stocks are

held as investments by foreign strategic

partners.

These banks enjoyed a round of

stock market price increase. And when

China’s stock market crashed in 2007,

the balance sheets of all these state

owned banks were already very, very

[healthy] by then. After that the state-

owned banks’ non-performing loan

ratio was about 1%; so I think that was

a very successful way of converting

the bad loans of state-owned banks

to listed companies. The other aspect

of it was that each of the four biggest

state owned banks that went through

this process had an asset management

co m p a ny to d e a l w i t h i t s n o n -

performing loans. I’m not an expert

on how they dealt with that, but it was

gradually absorbed. I think in the end

it was indirectly absorbed by people,

as the bad loans may be packaged

and sold as investment products. So

that is basically a successful way, and

I anticipate that the same method

will be used by policy makers to deal

with the sharp increase in bad debts

– now this time held mainly by local

governments.

They should acknowledge that

this part is because of bad decisions

made in the past. Even the private

sector makes bad decisions and their

stakeholders lose money as a result.

So as long as the government has

really done its best and acknowledges

that that part of the debt cannot be

recovered, then they should just put it

on their balance sheet as a loss. Then

the loss will be absorbed maybe within

1, 2 or 3 years. But they need to make

it transparent. Every year there is the

National People’s Congress, which is

sort of a look at their balance sheet.

They can just let the country know,

through the NPC, that due to certain

mismanagement they lost a percentage

of their investment in certain projects.

I think the people of China would

very much appreciate this honesty.

Everybody makes mistakes; but trying

to hide them, trying to evade taking

responsibility, that is not suitable under

China’s New Normal.

If we interpret the New Normal

more broadly, it should be a new way

of running the country.

Point #4: in writing off these bad

debts we should really do it in a fair

way. We will probably have to ask the

big monopoly state-owned companies

to share a larger part of the burden.

They should share the burden with

the government; but this allocation

should also be done in a transparent,

market-oriented way. It should not be

the central government ordering them

to buy the bad debt. But there has to

be some allocation among all the state-

owned enterprises.

So overall I think a debt-equity-

swap would be a move in the right

d i rec t ion but we have to watch

careful ly how it is implemented.

I r e a l l y h o p e t h a t t h e C h i n e s e

government will promote the New

Normal approach in solving economic

issues. That, in my view, is the most

important element of the New Normal

concept. It’s a very positive concept.

Now we understand it very narrowly,

only in terms of a slower rate of

economic growth, which sounds very

negative. We should give the term

New Normal new meaning, new life,

in the context of this discussion about

dealing with the debt-equity swap.

If this current leadership can

really lead the Chinese people towards

that kind of New Normal they will

have their names [written] in history

[books].

ceibs KNOWLeDGe

79

theLINK Volume 4, 2016theLINK Volume 4, 2016

Li Xin’s Second Run

Li Xin was taking in the scenery along the

bank of the Yalu River in Dandong, Liaoning

Province when she noticed the two brawny

men standing beside her. She immediately

took off, running fast until she could catch a taxi to the

railway station to grab the first train out of town. She

didn’t even stop at her hotel to collect her things. In

her 20s at that time, she was the only woman lawyer at

the first law firm in Henan Province and had been in

Dandong on a case. That morning she had helped the

police arrest some men suspected of economic crimes –

the two men who approached her by the river had been

among them.

Once safely back in her Zhengzhou office she told

the director of her law firm that from then on she only

wanted to do non-litigation business. The firm had no

business that fell into that category. Unable to persuade

the firm to allow her to pursue this new path, Li and two

other young lawyers set out on their own and opened

Zhongcheng Law Firm to cater to the needs of non-

litigation clients. It was the mid-1990s and, thanks

to China’s Reform and Opening-up policy, there was

a steady flow of foreign investment into the country.

Noticing that most multinational companies had no idea

how to register a Sino-foreign enterprise, the new firm

began offering business registration services.

Law firms were not allowed to advertise at that time,

so they registered as a legal consulting firm. “It took so

long, even though we were professionals,” she said. “The

process went so slowly that it was easy to see that there

would be a big demand for someone who could provide

company registration services.”

Finally after three months their application was

approved and they were finally able to wear suits,

draft documents and visit clients. Eager to build their

business, the young lawyers advertised the firm’s services

By Lei Na

CORPORATE SPONSOR • Feature

80


We were on top of

the world, after we

survived that first

stage, which was so

difficult.

would only agree to meet her for 15

minutes while he was at an airport

waiting for a flight.

S h e s a y s C h e n t o l d h e r h i s

company never invests in companies

f rom Hen a n Prov i n ce , a n d h a d

never accepted money from Henan

inves tors . He sa id h i s company

o n l y t o o k o n c l i e n t s w h o h a d

investment capital of at least RMB100

in newspapers. The response was

immediate, Li says. Every day they

got two or three calls and quickly

built a client list. “We were on top

of the world, after we survived that

first stage, which was so difficult,” she

says.

As their clients’ businesses grew,

the f i rm expanded i t s por t fo l io

to meet their needs, adding tax,

million. Undaunted, Li returned to

Zhengzhou and began preparing

to organise a road show to s ign

other investors to meet this capital

requirement. In an event held at a

five-star hotel, she gave a two-hour

speech, and managed to convince

participants to invest in what was

to become the first equity fund in

Henan Province, Minxiang Wealth.

She raised RMB172 million, with

each investor putting in a minimum

investment of RMB2 million. She

gave the funds to two firms, Oriental

account ing , and loan guarantee

services. A decade on, a successful

client asked if the firm could help

w i t h f i n a n c i a l a d v i c e . T h o u g h

L i d i d n ’ t h a v e m u c h m o n e y

management knowledge, she wanted

to figure out a way to meet their

clients’ needs. She tasked a group of

employees with contacting the top 30

fund companies in China to explore

cooperat ion oppor tuni t ies . The

response was underwhelming. Even

Chen Wei, president of their current

partner Oriental Fortune Capital,

Feature • CORPORATE SPONSOR

81


Fortune Capital and Leading Capital,

to invest. Thus began a new chapter

in her entrepreneurship journey.

Shift to Wealth Management

The wealth management business

grew as the number of high net worth

individuals rose in China. Li recalls

asking CEIBS Professor of Finance

and Accounting Oliver Rui, “Is there

any industry with no growth ceiling

and remarkable prof i ts that can

systematically generate wealth for its

clients which they can hand down to

the next generation?” She said Prof

Rui told her that wealth management

is the only industry that fits those

criteria.

O r i e n t a l F o r t u n e C a p i t a l ’s

Chen Wei began to visit Minxiang

Wealth and Li’s company hosted 70

of his firm’s partners for a two-day

conference in Zhengzhou. Among

the topics discussed at the conference

was why clients had initially invested

in Minxiang and how to replicate its

business model. During a visit to her

firm in 2014 she says Chen shared

his ideas for a three-year plan for

Minxiang. “I didn’t expect you would

be able to establish the kind of wealth

management firm that I have always

dreamed of,” she says he told her. “I

want to invest in you and expand

across the country.”

After Oriental Fortune Capital

( w h i c h r e a d s D o n g f a n g F u h a i

when written in Pinyin) became

their stockholder, Minxiang Wealth

renamed itself Fuhaiminxiang and

moved its headquarters to Shenzhen

in 2015. Its development strategy

f o c u s e d o n e q u i t y i nve s t m e n t .

Usually it takes five to ten years for

such investments to turn a profit, and

it only accounts for 20 to 30 percent

of an investor’s total asset allocation.

However the rigour involved with

this asset class helps clients better

u n d e r s t a n d t h e p r i n c i p l e s o f

investment. “I wanted to start from

the most difficult type of investment,

to educate ordinary investors to the

highest level,” Li says.

Looking to build further trust

with their clients led the firm to

create its Edward Yun Club, which

it is trying out in high-income areas

of Zhengzhou. Each ‘chapter’ of the

club has a senior-level manager and

an administrative supervisor who

are responsible for consulting with

clients and handling their investment

transactions. The managers all have

secur i t ies pract ice cer t i f icat ion.

Besides financial services, the club

a l so of fers var ious cul tura l and

healthy lifestyle activities

such as tea and incense

ceremonies , cooking ,

y o g a a n d w e l l n e s s

classes, as well as wine

tast ing . The chapters

also invite experts from

different fields to give

lectures to help broaden

members’ finance and

investment knowledge.

The inspiration for

s t a r t i n g t h e E d w a r d

Yun club came from the

community marketing

m o d e l o f U S - b a s e d

broker-dealer Edward

Jones which is detailed

in a case study done by


82


President of Shenzhen Fuhaiminxiang Wealth Management Li Xin invested RMB8 million in

CEIBS on behalf of the company on August 10, 2016. The investment will support the research and

programmes offered by CEIBS China Entrepreneurial Leadership Camp and CEIBS Shoushan Centre

for Wealth Management. This is Li’s second investment in CEIBS. The first was a RMB100 million

investment in CEIBS Entrepreneurship camp in March 2015.

Harvard Business School. The name

came in part from the name of its

project leader, Yunkuan. Edward Yun

club members must have a minimum

of RMB1 million to invest. So far Li

says that most clients have seen their

investments grow to RMB3 million

and even RMB10 million within half

a year.

Though Li enjoys leading her

company, it can often be difficult

to find the right work-life balance.

Her children have had to learn to be

independent. “Once we were together

in Shanghai and I had some urgent

business to deal with,” she recalls.

“I had to put them on a plane by

themselves – my son was eight and by

daughter was six. When my son told

me he was a little afraid to fly without

me, his sister told him, ‘Don’t be

afraid, you still have your sister here’.”

Her children went to the US for

university and her husband moved

there as well. She joined them in

2011 but, unable to let go of her

business, she returned to China two

days before receiving US permanent

residency status. Shortly after her

return she sought guidance from

the living Buddha Zongkang at the

Ta’er Temple in Qinghai. She says the

living Buddha asked her, “Is there any

difference between your children and

husband and your staff?” After some

reflection, she came to realise she

cherishes both. She told her children,

“We are destined to be mother and

children, while my staff and I are

destined to be together too. I cannot

leave them. ”

S h e i s a l s o r e v e r e d b y h e r

employees. A strategy consultant once

asked long-term staff why they have

remained at the company. Everyone

had the same response – all had seen

their lives change and their incomes

grow while working with Li. Some

who came from humble backgrounds

are now among the country’s high-

income population.

L i a l s o h a s s o m e u n i q u e

management strategies. In a meeting

with CEIBS Honorar y Pres ident

Liu Ji he asked her to introduce her

company in only once sentence. After

a few moments of thought she replied,

“We are a company where everyone

played a role in a performance of the

musical Cats”. What began as an idea

for a different kind of performance

at Fuhaiminxiang’s annual party

ended up featuring more than 200

employees. The director thought

it was an impossible mission but

Li prevailed, assigning one of the

musica l ’s 12 acts to each of the

company’s 12 departments.

The Cats performance illustrates

the company culture she advocates:

g i v e o t h e r s w h a t y o u w a n t . “ I

wanted to give them the best. Many

employees didn’t have the chance to

learn music or dance while growing

up, and I wanted to make up the

missed lessons for them.” She recalls

with a smile, “Actually the staff faces

great pressure to perform, and I

thought this kind of activity might

give them a chance to be distracted

Feature • CORPORATE SPONSOR

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I wanted to give

them the best.

from their work.”

Her maternal feeling towards her

staff can also be seen in some of the

performance evaluations she does

with executives. Occasionally she

will add special terms, for example

she will ask an overweight employee

to lose 10 kilograms or urge male

employees to exercise more. She

once agreed with her managers that

the one who lost the most points

in their monthly evaluation should

have to run one kilometer for every

point deducted. The loser was an

accountant who began working with

Li 20 years ago. Her success with the

company meant she could afford to

buy a Porsche. Her parents are proud

of her and her success is well known

in the neighborhood where she grew

up.

The accountant lost 29 points in

her evaluation and Li Xin decided to

join her on her 29-kilometre run. It

had been more than 20 years since Li

had run for her life that day from the

men at the Yalu River. But now she

was no longer alone, and no longer

scared. The pair was joined by other

members of the Fuhaiminxiang staff.

As she heard the footfal ls of her

team running alongside her, Li felt

warm and calm and she recalled a

conversation she had 20 years earlier

w i th the h i r ing manager of the

Henan law firm when he was trying

to persuade her to leave her job as an

assistant to the manager of a biscuit

factory. She says he told her, “My gut

feeling is that you can accomplish

something. I am not expecting you

to be a famous lawyer, but a noble

woman.”


84


CORPORATE SPONSOR • Foundation News

86


Jia Yin Financial Technology Invests in CEIBSCEIBS’ strong focus on the areas of finance and innovation received a boost on October 13 with Chairman of Shanghai Jia Yin Financial Technology Yan Dinggui (EMBA 2013, CEO 2016) donating RMB3 million to the school, on behalf of the company. Half of the funds will go towards setting up the CEIBS – Jia Yin Inclusive Finance Research Fund while the other half will be used to help establish the FMBA innovation research award. As coordinator of the donation project, Professor of Economics and Finance Xu Bin welcomed participants to the event and laid the background for the donation while CEIBS President Li Mingjun – who is also President of CEIBS Education Development Fund – accepted the donation on behalf of the school. The ceremony was held at CEIBS’ Shanghai Campus.

Education Development Fund ReportThe CEIBS Education Development Fund released its 2015 annual report on July 18. The report details the investments the Fund received in 2015, including donations made to the Chair Professorship, Scholarship, Research, Campus Development and CEIBS Development Funds, and recaps the major events of 2015. The Fund continued to grow in 2015 thanks to the generous support of students, alumni and the community. It

received donations from 22 classes, two alumni association chapters and 1,655 students and alumni through the year.

Safety FirstA ceremony to mark the donation of 15 AED devices and related first aid training by First Respond and Yuwell Medics was held on September 19 at the Shanghai Campus. CEO of SOS919 Lu Le (EMBA 2007) and Chairman and General Manager of Jiangsu Yuwell Medical Equipment Wu Guangming

(CEO 2010) signed the donation agreement along with CEIBS Vice President and Dean Prof Zhang Weijiong. Former CEIBS President and Honorary Chairman of CEIBS Education Development Fund Prof Zhu Xiaoming thanked the alumni for their generosity.

President Li Mingjun, Yan Dinggui and Vice President of Jia Yin Financial Technology Zhang Zhenjiang (EMBA 2013)

Corporate Partner News • CORPORATE SPONSOR

87


More than 40 CEIBS staff and students participated

in a Beer Talent Training Programme organised

by the biggest brewing company in the world

and CEIBS’ long-term sponsor AB InBev. While learning

about the rich connotation of beer culture, participants at

the September 2 event also enjoyed the scrumptious beer

and food pairing art created by renowned chefs in Shanghai.

The event was co-organised by CEIBS Labour Union and the

Corporate Relations Department.

CEIBS Vice President and Co-Dean Prof Zhang Weijiong

spoke highly of this creative event by AB InBev. He shared

his own experiences to make the point that even the most

ordinary beer can add fun to life if one knows how to select,

savour and pair it with the right food. He extended his

heartfelt thanks to AB InBev for the event. According to Ms

Linda Qian, People VP at AB InBev APAC, the brewing giant

created the post of Beer Knowledge Manager to educate

consumers about beer and consumption patterns in an

industry at its peak.

The day’s lecture by Deputy Director of Beer

Management and Marketing at AB InBev Mr Sun Yongxin

was filled with details that made the entire experience a lot

of fun for the very lively participants.

The food pairing session was the highlight of the

training programme. The instructors were Eddy Yang, a

15-year veteran of the wine-tasting industry, and Sean

Jorgensen, an American chef who has worked with various

renowned restaurants in Shanghai. The pairing included six

dishes, respectively going with 6 beers of different taste: Stella

Artois, Hoegaarden, Goose Island Sofie, Goodse IPA, Leffe

Ruby and Goose Island Honker Ale. Guided by the wine

tasting master and the chef, participants had many pleasant

surprises as their taste buds experienced the combination of

delicacy and beer.

After a Q&A round, AB InBev presented participants

with “Beer Talent” certificates which each contained a small

sample of beer barley. The event is the first of three levels in

AB InBev’s beer knowledge training. After completing the

other two levels, participants can become true beer experts –

an opportunity that many appear eager to embrace.

CEIBS & AB InBevHost Beer Talent Training Programme

Linda Qian and CEIBS Labor Union Chairman Du Qian

CEIBS staff

CORPORATE SPONSOR • Corporate Partner News

88


The business school of the

future, and CEIBS’ next five-

year development plan were

the focus of discussions between the

school’s leaders and senior executives

from 13 multinational companies

who gathered at the Shanghai Campus

on September 27 for the 2016 CEIBS

Corporate Advisory Board Meeting. The

agenda also featured a new initiative,

the Peer Advisory Group (PAG),

which at this meeting focused on the

branding and marketing strategy of the

Volvo Car Group. CEIBS President and

Chengwei Ventures Chair Professor of

Entrepreneurship Pedro Nueno, CEIBS

2016 CEIBS Corporate Advisory Board Meeting

Vice President and Co-Dean, Professor

of Strategy Zhang Weijiong, CEIBS Vice

President and Dean and Cathay Capital

Chair in Accounting, Professor Ding

Yuan attended.

In his Welcome Address, Dean

Ding Yuan outl ined the school’s

recent achievements. “We are doing

fantastically well, especially in terms of

the programmes, faculty development,

and knowledge creation. Al l our

programmes are over-subscribed, and

it is difficult to select from so many

excellent candidates,” he said. “In terms

of knowledge creation, we position

ourselves very clearly as the leading

TheLINK Volume 4, 2016

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89


business school in China. We will organise a case teaching method workshop, for

all the business schools in China, in English and Chinese. We do this as part of the

school’s social responsibility.”

Vice President and Co-Dean Zhang Weijiong give an inspiring presentation

on CEIBS’ next five-year development plan. “Our mission is to educate responsible

leaders versed in ‘China Depth, Global Breath’,” he said. “That means we not only

focus on China, we should be a business school with global impact. Both our faculty

and students not only know the Chinese situation but also should have global

experience. We hope to be a role model for management education in China, and a

globally-recognised centre for innovation and knowledge creation.”

Meanwhile in his speech on “The Business School of the Future”, President

Pedro Nueno noted there has been much speculation about the future of education

and whether online learning will replace the traditional classroom. He predicted

that the traditional classroom will remain, however he said that schools will need to

bring fresh cases and real situations into the classroom to stimulate discussions. He

also said that it is difficult for students to have a global perspective if the professors

themselves don’t have one. “We have to be international in all aspects of the school,

this means we need continuous innovation,” he said.

The final portion of the agenda featured the inaugural Peer Advisory Group

(PAG) discussion. The aim of this new initiative is to engage like-minded CAB

members in a problem-solving session to advise a member on a major issue their

business is facing. Each meeting will focus on a different case. With President Nueno

facilitating discussions, Mr Sven de Smet, APAC Region Vice President of Brand and

Marketing for Volvo Cars heard pragmatic suggestions from fellow CAB members

on how to best position Volvo Cars in China.

CEIBS’ Corporate Advisory Board is a high-visibility platform that provides

senior executives from the school's corporate sponsorship partners with an

opportunity to share their views concerning business education in China. As an

interface between the school and the business community, the CAB gives on-going

advice and feedback to CEIBS on issues such as the school's branding, strategy and

fund raising, and ensures that the school's teaching and research activities are closely

linked to business practice.

Pedro Nueno

Ding Yuan

Sven de Smet

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Port of Barcelona"la Caixa"BayerBaosteelChengwei CapitalCathay Capital Private EquityPhilips (China) Investment Co. Ltd. JD.comMichelinABN AMRO

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成为资本春和集团大联大控股迪安诊断帝斯曼东北亚煤炭交易中心东方证券资产管理有限公司飞利浦 ( 中国 ) 投资有限公司柳工机械国信证券合生元集团华安基金管理有限公司华翔集团江苏汉联投资（集团）有限公司金昇集团九阳股份克莱斯勒中国有限公司莱蒙国际集团朗诗集团

AstraZenecaAGFAEYBest LogisticsBD-ChinaBOSCH (China)Investment Ltd.Universal Foundation for Education of Medical Service & HealthcareChengwei CapitalEvergreen Holding GroupWPG HoldingsDiAn DiagnosticsDSMEcoalOrient Securities Asset Management Philips (China) Investment Co. LtdLiugong MachineryGuosen SecuritiesBiostime Inc.HuaAn Fund ManagementHuaxiang GroupHanlian Investment GroupJinsheng GroupJoyoungChryslerTopSpring Intl. Holdings LimitedLandsea Group

陆家嘴开发集团迈瑞公司民享财富默克化工中国诺亚财富泉峰集团仁泰集团普洛斯上海摩高投资有限公司上海浦东发展银行上海数银科技有限公司上海银行深圳市分享投资合伙企业首善财富四维约翰逊集团王彩铁铺西班牙对外贸易发展局西门子医疗祥源控股集团有限责任公司旭辉集团迅付信息科技有限公司研祥集团银城地产集团股份有限公司雨润集团中国航空技术国际控股有限公司中国金融期货交易所有限公司

Lujiazui Development GroupMindrayMerrsunny WealthMerck KGaANoah Private Wealth ManagementChervon Holdings Ltd.Rentai GroupGlobal Logistic Properties Ltd.Shanghai MorGold Investment Shanghai Pudong Development BankShanghai Shuyin Science & Technology Bank of ShanghaiShare Capital PartnersShousan WealthFD JohnsonW&Smith Shanghai Inc.ICEXSiemens HealthcareSunriver Holding Group Co., Ltd.Cifi GroupXunfu Info Science & Technology EVOC GroupYincheng Real Estate GroupYurun GroupAVIC InternationalChina Financial Futures Exchange

CEIBS Research Fund

鹏瑞投资集团吴敬琏学术基金西班牙桑坦德银行西班牙政府依视路国际光学集团英美烟草中坤集团中联重工科技发展股份有限公司中天集团朱晓明院长基金

Parkland Investment GroupWu Jinglian Academic FundBanco SantanderSpanish GovernmentEssilor InternationalBritish American TobaccoZhongkun GroupZoomlionZhongtian GroupZhu Xiaoming President's Fund

The featured sponsoring organisations and their logos were last updated on July 8, 2016. All names, logos, and trademarks are the property of the

respective sponsors.

ABBBP 中国阿克苏诺贝尔阿特拉斯 • 科普柯艾默生安赛乐米塔尔奥山集团百威英博法国巴黎银行好屋中国横店集团极装科技有限公司江苏虎甲投资有限公司可口可乐麦肯锡中国公司曼达林基金礼来亚洲公司鹏欣集团

ABBBP ChinaAkzo NobelAtlas CopcoEmersonArcelor MittalAoshan GroupAnheuser-Busch InBevBNP ParibasHaowu ChinaHengdian GroupJizhuang TechnologyJiangsu Tiger Beetle InvestmentCoca ColaMcKinsey & CompanyMandarin Capital Partners Eli Lilly Asia, Inc.Pengxin Group

浦东香格里拉酒店上海虹康房产公司上海力盛赛车文化股份有限公司基石创业投资公司陶氏化学天成医疗万事达卡国际组织西班牙阿斯图里亚斯自治区经济发展局西班牙对外银行熙可集团新城地产雅戈尔集团悠客行有限公司银城地产集团赢创工业集团佩德罗 • 雷诺院长基金朱晓明院长基金

Pudong Shangri-LaHong Kang Real EstateLisheng AutoCo-stone Capital Investment Dow ChemicalTiancheng Medical GroupMasterCard WorldwideIDEPABBVACHIC GroupFuture HoldingsYoungor GroupBest Travel LimitedYincheng Real Estate GroupEvonik IndustriesPedro Nueno President’s FundZhu Xiaoming President’s Fund

中欧发展基金 CEIBS Development Fund

中欧奖学金基金艾默生巴塞罗那养老金储蓄银行晨兴创投东渡国际集团好利安宏盟集团

Emerson"la Caixa"Morningside VenturesDDI GroupHovioneOmnicom Group Inc.

CEIBS Scholarship Fund龙旗控股集团刘吉管理教育基金助学金润英联（中国）有限公司安越企业管理咨询公司吴敬琏学术基金周宗明校友 (EMBA2004 级 )

Longcheer GroupLiu Ji Education FundInfineumEasyfinance Management ConsultingWu Jinglian Academic FundMr. ZHOU Zongming (EMBA2004)

TCL巴可创天昱科技帝亚吉欧风神集团国家开发银行华泰证券环球资源嘉华集团景林资产敏华控股三全食品上海家化集团上海金桥集团

TCLBarcoCTK Co., Ltd.DIAGEOFengshen GroupChina Development BankHuatai SecuritiesGlobal SourcesK. Wah GroupGreenwoods CapitalManwah HoldingsSanquan FoodShanghai Jahwa GroupShanghai Jinqiao Group

中欧校园基金 CEIBS Campus Fund上海氯碱化工上海大众汽车彤程集团万得资讯沃尔沃西班牙 IDOM 设计集团西班牙政府远东控股集团柘中集团中国电信上海公司中国石化上海石化

Shanghai Chlor-Alkali ChemicalShanghai VolkswagenRed Avenue GroupWind InfoVolvoIDOMSpanish GovernmentFar East Holding GroupZhezhong ElectricChina Telecom ShanghaiSINOPEC Shanghai Petrochem

景林资产Greenwoods


Welcome MBA 2018, Applications Open for 2019The Opening Ceremony and cocktail reception to welcome the CEIBS MBA Class of 2018 was held August 8 at the Shanghai Campus. The new cohort comprises 191 students from 21 countries and regions and also includes a record breaking number of female students, who make up 44.5% of this year’s class. In their Welcome Addresses, CEIBS President Prof Li Mingjun and Vice President and Dean Prof Ding Yuan shared some of the school’s recent achievements and future development goals. The students also heard words of encouragement from faculty, alumni and their peers. Professor of Economics Bala Ramasamy, Tencent Vice GM Zhang Minyi (MBA 2007), MBA 2017 Student Committee President Jong Wook Hong, and MBA 2018 student Andrew Kim also gave speeches during the ceremony. General Manager of Sanofi Pharma China Mr Jean Christophe Pointeau gave the keynote speech.

Meanwhile, applications are now being accepted through the school’s newly-optimised online application system for the MBA Class of 2019, which begins in August 2017. The CEIBS MBA Office hosted the first MBA 2019 information session and exclusive lecture in Shanghai on September 10, and over the following four months it will host a series of events in Beijing, Shenzhen, Guangzhou, Chengdu, Hefei and Wuhan. Directors from the department will also attend MBA tours in Toronto, New York, Frankfurt, Tokyo, Seoul, Hong Kong, Taipei, Manila and Singapore.

MBA Career Development EventsSome of the most popular career tracks for MBAs: management consulting, venture capital and private equity (VC/PE), internet, strategy, and investment banking, were the focus of two events in September organised

by the CEIBS Career Development Centre. Senior executives from companies such as Accenture, Tencent Games, Bayer Healthcare and the boutique investment firm IEG-Kratos shared career development insights at the CEIBS MBA Career Exploration Day held September 24 at the Shanghai Campus.

On September 14, a Career Development Workshop brought several senior executives from Bain Capital to the school to share their career strategies, and discuss the Asia strategy of the pioneering private equity giant.

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CEIBS eLab Welcomes MBA 2018 EntrepreneursCEIBS eLab opened its doors to the new MBA Class of 2018 with a Welcome Ceremony on August 16 and an Information Session on September 2 during which faculty explained the facilities, programmes and lectures that the school makes available for student and alumni entrepreneurs. Nearly 25% of the new MBA cohort already has prior entrepreneurship experience.

During the Welcome Ceremony, Professor of Entrepreneurship Ramakrishna Velamuri reminded everyone that an entrepreneurial mind-set also goes a long way within MNC environments. Associate Professor of International Business and Strategy Shameen Prashantham shared some practical entrepreneurship examples with the group. Current Captain of the eLab, MBA2017 student Michael Tang said that to date the eLab has supported more than 50 ventures.

During the Information Session, Director of the eLab, Adjunct Professor of Entrepreneurship Vincent Chang urged students to adopt the same mind-set as Renaissance inventor Leonardo Da Vinci in their own entrepreneurship pursuits. “We are not learning by research, we are learning by doing,” Prof Chang said.

2016 MBA Career ReportThe CEIBS MBA Office released its annual MBA Career Report on August 24. This year’s highlights include:• Over 800 positions were made available

through the school's Career Development Centre (CDC) from 319 companies during the 2015-2016 recruitment season;

• Within three months of graduation, 93.4%

of CEIBS MBA graduates reported having received at least one offer, with 92.7% accepting;

• 80.7% achieved career switches in industry, function or both;

• The average annual salary increase is 92%, with nearly 70% of graduates within the RMB300,000 to 600,000 range;

This year saw the CDC launch the ‘Localisation

Programme for International Talents’ as well as the Second CEIBS Chinese Enterprise Forum to highlight the unique value that an MBA brings for local recruiters. This recruitment season saw recruiters from Chinese private enterprises surpass foreign companies for the first time, reaching 46%. In terms of location, 100% of international students have been placed in the Asia Pacific region, with 70% staying in mainland China.

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Global EMBA Welcomes Shanghai & Zurich CohortsThe 20-month study journey for CEIBS Global EMBA Class of 2016 began in September, with one cohort in Shanghai and a second in Zurich. The 59-person Shanghai cohort was welcomed by school leaders and faculty at an Opening Ceremony held September 4. Participants hail from 16 countries and regions, with 31% from such countries as Argentina, Czech Republic, Denmark, Canada and Chile. The class boasts strong credentials, with an average of 16 years of work experience and an average age of 39. Nearly 20% of the participants are entrepreneurs or business owners, an historical high for the programme and evidence of CEIBS’ commitment to cultivating innovative and entrepreneurial leaders. This class has also seen a pronounced increase in the ratio of participants working for Chinese private companies.

Meanwhile, the first ever module of CEIBS Global Executive MBA being offered at the school’s Zurich Campus began on September 26. The 29-person Zurich cohort includes seasoned European and Chinese business executives from a wide range of industries, along with experienced African leaders from both the worlds of business and government. The programme is the only one that provides access to two emerging continents – Asia and Africa – plus Europe and a study tour to the U.S. It draws on CEIBS’ resources in Europe, China and Africa, creating synergies across the school’s locations. The Zurich curriculum is identical to the one offered to participants in Shanghai.

Turkish national Turan Akgül belongs to the Zurich batch. He has spent his entire career in the international banking sector, and is working out of Equatex Ltd’s Zurich office, where he is in charge of business process management for the company’s global operations. He said he chose the CEIBS Global EMBA Programme because he needs to have a strategic view of how the world does business, and he is especially interested in emerging markets. “I believe this century will belong to China,” the 42-year-old said. “I consider Africa a fast growing continent, where the opportunities are huge. I wanted to have a truly international EMBA experience with a focus on emerging markets. That is why I chose the CEIBS Global EMBA. In addition to studying in Europe, I am also really looking forward to the electives we will do in Shanghai and Accra.”

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Allianz Group CRO Lectures Recent economic volatility coupled with other business environment changes are forcing the insurance industry to rethink its future value creation strategies, says Allianz Group Chief Risk Officer Dr Thomas Wilson. He made his remarks during a lecture titled “Value and Capital Management – A New Era” which he gave at a CEIBS Executive Forum held August 24 at the Shanghai Campus.

Covestro CFO Headlines ForumCFO and Labour Director of Germany-based Covestro AG (formerly Bayer MaterialScience) Frank H Lutz shared his insights into how to spin off and list a company during a CEIBS Executive Forum held October 10 on the Shanghai Campus.

Foreign Investment in Africa“Afr ica’s compet i t iveness and China’s Investments in the African Continent” was the theme of a China-Africa seminar co-organised by CEIBS and the Lagos Business School that was held August 18 in Lagos, Nigeria on the occasion of the Annual Conference Academy of International Business Sub-Saharan Africa Chapter. Attendees included senior Chinese

and African executives from companies operating in Lagos, and academics from across Africa, the US, Europe and China. CEIBS Executive Director Global Initiative Annette Nijs chaired the event.

Korn Ferry CEO Gives KeynoteKorn Ferry CEO Gary Burnison shared his views on leadership at a CEIBS Executive Forum held September 22 on the Shanghai Campus. He is the author of The Leadership Journey: How to Master the Four Critical Areas of Being a Great Leader as well as several other books.

Building a Luxury BrandCEIBS Marketing Faculty led a group of senior

Chinese executives on a one-week Study Tour Programme titled “Making of a Prestigious Brand” which saw the group travel to Milan and Zurich for company visits and sharing sessions with industry leaders in June. The group was hosted in Milan by the prestigious SDA Bocconi School of Management, and on June 28 CEIBS and SDA Bocconi signed an agreement in which the two institutions will cooperate in both EMBA and Executive Education in China, Italy, Ghana and India.

The cooperation with SDA Bocconi and the European Study Tour Programme are among many recent initiatives in CEIBS’ strategy to develop a new two-way interactive learning.

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Pujiang Innovation Forum“Evolution of the Innovation Path” was the topic of a speech by Professor of Management Practice Gong Yan at the Pujiang Forum, which was held September 23 to 26 in Shanghai. Prof Gong Yan spoke during the Innovation and Future Session of the Asian Innovation and Entrepreneurship Cooperation section of the Forum. CEIBS is a strategic partner of the Forum, which is jointly organised by the Ministry of Science and Technology of the PRC and the Shanghai Municipal Government. CEIBS President Prof Li Mingjun is a member of the Forum’s board and Vice President and Dean Prof Zhang Weijiong is on the Forum’s academic committee.

Leveraging the Internet Assoc ia te Pro fessor o f St ra tegy and Programme D i rector o f the Bus iness Innovation & Transformation Programme Chen Weiru was the keynote speaker at an Executive Forum held August 20 on the Shanghai Campus. Prof Chen explored how traditional businesses can leverage the internet to transform their strategies. He also moderated a discussion with President of Pangu Catering Hu Gang (EMBA 2013) and UNIQLO Chief Marketing Officer for Greater China Wu Pinhui, who shared the challenges

their companies face in the digital age and how they have tried to address them.

Qingdao Innovation ForumThe 2016 CEIBS Innovation Forum was held in Qingdao on August 16 and featured a lecture titled “Platform Transformation: Enterpr ise Innovat ion for Growth” by Associate Professor of Strategy Chen Weiru. There was also a roundtable discussion between three CEIBS alumni: Executive Co-President and CFO of Haier Group Tan Lixia, Sunward Logistics Chairman Song Zhiqiang

and GM of Eastsoft Wu Di.

Leadership Expert Peter SengeRenowned leadership expert Peter Senge was the keynote speaker at a CEIBS Executive Forum held July 2 on the Beijing Campus. Senge authored the highly acclaimed book The Fifth Discipline: The Art and Practice of The Learning Organisation, and is a Senior Lecturer in Leadership and Sustainability at the MIT Sloan School of Management. He is also the founding chair of the Society for Organizational Learning (SoL).

Prof Gong Yan

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Innovative Media SummitThe 2016 CEIBS Innovative Media Seminar was held July 15 on the Shanghai Campus. The two-day module brought together 47 senior media executives from traditional and new media outlets for lectures on China’s current economic development trends. Faculty included former CEIBS President and Professor of Management Zhu Xiaoming, Professor of Economics Zhu Tian and Chief Economist of the China Banking Association Ba Shusong. The Report on Alumni Influence was released by Associate Professor of Marketing Xiang Yi during the Seminar.

CLIIF Procurator TrainingThe CEIBS Lujiazui Institute of International Finance (CLIIF) began its fourth Procurator Tra in ing Programme wi th an Opening Ceremony on September 6. The three-month programme provides participants with free training in financial regulations and best practices in order to help improve financial rule of law in Shanghai and facilitate the city’s development as an international financial centre. The new cohort has 64 financial procurators from Shanghai People’s Procuratorate as well as district procurators. CLIIF Executive Vice President Gary Liu moderated the Opening

Ceremony while CEIBS President Professor Li Mingjun, and Vice Chief Procurator of Shanghai People’s Procuratorate Zhou Yueqiang gave welcome speeches. For the first module of the programme, Member of the Standing Committee of the NPC, Vice Director of the NPC’s Fiscal and Economics Committee, and President of CLIIF Wu Xiaoling gave a lecture titled “The Regulatory Challenge for the Fortune Management Market”. Chairman of BOC International Studies Company and Joint President of CLIIF Cao Yuanzheng gave a lecture titled “Analysis of Current Macro Economic Situation of China”.

Welcome FMBA 2016The Opening Ceremony for the Finance MBA (FMBA) Class of 2016 was held at the Shanghai Campus on September 8. The 120 participants in this cohort are 32-years-old, on average, with an average of nine years of work experience and five years of management experience. Thirty percent hold an advanced degree. They work in various areas of the financial industry, including company finance, banking, investment, PE/VC, real estate finance, trust, securities, and foundations.

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When Tech Meets LuxuryAdvances in technology are forcing luxury brands to rethink their strategies, according to discussions at the 8th CEIBS Prestige Brands Forum which was held September 24 at the Shanghai Campus. The event brought together thought leaders and high-level executives of renowned luxury brands to explore the wider implications of the changing luxury industry. They discussed how traditional luxury brands are coping with the change and whether there are opportunities for new luxury brands – some of them from countries, such as China, not typically associated with prestige products – to enter the market. They also looked at how the global market for luxury goods and services is being impacted by these major changes. Discussions revolved around the general theme, “Luxury: the Power of Experience”.

Ant Financial CSO at Finance SalonChief Strategy Officer of Ant Financial Services Group Chen Long gave the keynote speech at the 89th CEIBS Lujiazui Financiers’ Salon and the 2nd CEIBS World Bank Inclusive Finance Salon held on August 23 in Shanghai. The event was co-organised by CEIBS Lujiazui Institute of International Finance (CLIIF) and the CEIBS World Bank Inclusive Finance Centre.

Amazon Logistics WorkshopOperational Development Director at Amazon, Jonathan Zhou, spoke about the ways in which Amazon links logistics with technology to improve service for its Chinese customers during a workshop held September 7 on the Shanghai Campus. The event was organised by the MBA Supply Chain & Operations Club and the CEIBS MBA Career Development Centre.

Siemens Healthcare Executive LecturesSiemens Healthineers Senior Vice President and General Manager Magnetic Resonance (MR) Dr Christoph Zindel gave a lecture on September 8 at the Shanghai Campus titled “Siemens Healthineers: How to Maintain Market Leadership with Innovation and Precision Medicine”.

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China Financial Innovation ForumThe annual China Financial Innovation Forum was held in Shanghai September 7 & 8. Co-organised by the CEIBS Lujiazui Institute of International Finance and Caixin Media, the Forum was themed “Thoughts on Financial Reform in View of Supply Side Reform”. Participants included CEIBS President Prof Li Mingjun, CEIBS Vice President and Dean Zhang Weijiong, NPC Standing Committee Member, member of its Financial Committee and President of CLIIF Wu Xiaoling, Chairman of BOC International Studies Company and Joint-President of CLIIF Cao Yuan Zheng, CEIBS Adjunct Professor of Finance and former ICBC Chairman Jiang Jianqing, special guest counsellor of CBRC and former President of ICBC Yang Kaisheng, Chief Editor of Caixin Media Hu Shuli, and Head of the People’s Bank of China’s Research Bureau Lu Lei.

CEIBS-Noah Di Shui Quan Project ReviewA review of the first year of operations of the CEIBS-Noah Di Shui Quan Project was held September 7 on the Shanghai Campus. Jointly established by CEIBS alumni company Noah Holdings and its subsidiary, internet finance company Cai Fu Pai, the programme is the first non-profit financial aid project done via an internet-based financial platform. It

allows CEIBS alumni to donate or lend funds that are then used to provide low-interest loans to CEIBS MBA students. CEIBS Vice President and Dean Ding Yuan, who is the founding Board Chairman for the Project said during the meeting that as many as 70% of the MBA Class of 2018 are receiving financial aid through the Project, and that he hopes more can benefit from it. CEIBS Associate Dean and MBA Programme Director Prof

Chen Shimin reported that the Project raised more than RMB10 million in its first year of operation, providing loans to 67 students.

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When Succession Meets InnovationInnovation in family business succession was the focus of discussions at CEIBS 5th China Family Heritage Forum 2016 held September 10 at the Shanghai Campus. The CEIBS-Shanghai Trust Report on Innovation in China’s Listed Family Businesses was released during the event. The paper’s findings show that China’s private sector is better at innovation than state-owned enterprises in terms of R&D investment. The forum also featured the release of a new book titled The Dual Challenges - Family Succession and Organizational Transformation which is co-authored by CEIBS Michelin Chair Professor in Leadership and Human Resource, Co-Director of CEIBS Centre for Family Heritage Jean Lee.

Global Financial Centre IndexShanghai was ranked at 16 on the latest “Global Financial Centre Index (GFCI)” which was released on September 26 at an event co-organised by the CEIBS Lujiazui Institute of International Finance (CLIIF), Shanghai Lixin University of Accounting and Finance, and the Shanghai Municipal Office of Financial Services. The Index is compiled by the British company Z/Yen and is one of the most influential rankings of global financial centres. The top four cities in this year’s ranking were London, New York, Singapore and Hong Kong. Shanghai had the

highest ranking among Chinese mainland cities.

Finding Success Outside the BoxIdeas that may seem crazy at f irst can lead to truly innovative business models and strategies, explained CEIBS Associate Professor of Strategy Peter Moran who shared his latest research findings on Strategic and Business Model Innovation in a Meet New Faculty lecture held July 19 on the Shanghai Campus. He also shared some examples of how companies and entrepreneurs have been successful in developing new business

models for existing products or conquering the market with a differentiated product or service.

Case Library DevelopmentsThe committee overseeing development of the Shanghai MBA Case Development and Sharing Platform met July 4 on the Shanghai Campus. They discussed the development progress of the platform, as well as its royalty distribution plan, the global case competition, ways to encourage case development and training, and enlarging the expert review panel.

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When Harvard Meets CEIBSThe Shanghai Campus hosted a concert titled “When Harvard Meets CEIBS” on July 11 which featured classic songs performed by world-renowned university orchestras. The concert was also broadcast live on vhall channel. CEIBS Vice President and Dean Prof Zhang Weijiong gave an address at the event.

CEIBS Named ‘Exemplary Sino-Foreign Educational Joint Institution’For the second time in the school's history, CEIBS has been recognised by the Shanghai Education Commission as the "Exemplary Sino-Foreign Educational Joint Institution of Shanghai". The school was first presented with this honour in 2012. The legitimacy of the organisation, teaching quality, and innovation are among the selection criteria. Evaluations began in May 2016 and after six months CEIBS was among the schools that topped the list.

Former PBOC Exec Joins FacultyOne of the most preeminent authorities on monetary policy and macroeconomics in China

and former People’s Bank of China (PBOC) executive Dr Sheng Songcheng has joined the CEIBS faculty. As Adjunct Professor of Economics and Finance at CEIBS, Prof Sheng will enhance the school’s ability to strengthen its curriculum by adding even more up-to-date and policy-relevant knowledge.

Prof Sheng’s research interests are mainly focused on monetary economics, monetary theory and policy, and macro-economic ana l y s i s . He has made ou t s t and i ng contributions in both theory and policy in areas such as aggregate finance to the real economy, capital account opening, interest rate liberalisation, as well as financial transformation and development.

Business Trends in the Digital EraIn his newest book, Business Trends in the Digital Era, CEIBS former President and Zhongtian Chair in Management Professor Zhu Xiaoming explores the ways in which digitalisation is affecting business trends in China. Through a combination of theories and case studies, Prof Zhu and his co-authors explain how businesses can succeed in China by leveraging Internet+ with the government’s national entrepreneurship and innovation strategy. They also offer some ideas about areas where opportunities exist. The book was recently co-published by Shanghai Jiaotong University Press in China and Springer Science+Business Media in North America.

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2016 CEIBS Research & Teaching Excellence AwardsProfessor of Operations & Supply Chain Management Zhao Xiande and Assistant Professor of Management Sebastian Schuh have received the 2016 CEIBS Research Excellence Award for their outstanding contributions to academic knowledge creation. Professor of Management Zhu Xiaoming, Professor of Economics and Finance Xu Bin and Professor of Marketing Wang Gao received the 2016 Teaching Excellence Awards in recognition of their efforts in making continuous improvements, bringing innovation into teaching, and contributing to faculty development through mentoring. The awards were announced September 2 by CEIBS Vice President and Dean Ding Yuan and conferred at the Faculty Getaway.

Outstanding Paper Award to Prof CaiA paper by the Director of CEIBS Centre for Health Care Management and Policy and Adjunct Professor of Economics John Cai is among the recipients of the Outstanding Paper awards given out by the Journal of Finance and Economics to mark its 60th anniversary. Titled “On China’s Periodic and Structural Financial Deficit”, the paper was originally published by the journal in 1990. It is one of the most cited papers among the 5,951 that have been published by the journal

since its founding. In all, 24 papers were recognised by the journal with this special anniversary award.

CEIBS Africa Case Wins Prize in CEEMAN CompetitionA case study written by Executive Director of CEIBS Africa and Professor of Management Practice in Accounting Mathew Tsamenyi along with Research Assistant Nana Yaa Ant iwi-Gyamf i has placed th i rd in the CEEMAN Case Writing Competition 2016. Titled “Trashy Bags: Sustainability Crisis of

a Sustainable Business”, the case explores the many strategic challenges faced by the CEO of a Ghana-based company, Trashy Bags, that transforms recycled materials like water bottles into fashionable handbags. The CEEMAN Case Writing Competition aims to encourage and promote the development of high-quality teaching case material relevant for the realities of dynamic and emerging economies, whi le a lso promot ing the development of case-writing capabilities in those countries.

From left: Professor Zhu Xiaoming, Professor Zhao Xiande, Professor Wang Gao, Professor Xu Bin, Assistant Professor Sebastian Schuh

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AMP Elite Challenge“Never Give Up, Go Non-stop!” was the theme of the Third CEIBS 24-Hour Elite Challenge held September 19 and 20 in Chongming District. Organised by CEIBS AMP alumni, the sporting event and its team marathon relay race began on the banks of Mingzhu Lake. Event revenues will be used to support the Cedar Programme charity. More than 100 college students volunteered to help during the event.

Faculty Visit Shanghai East Best & Lansheng GroupCEIBS faculty got a f i rst-hand look at China’s largest exhibition space, the National Exhibition & Convention Centre, during a visit to Shanghai East Best & Lansheng Group on September 1. General Manager of East Best & Lansheng subsidiary Shanghai Foreign Service Company (SFSC), Mr Ge Ping (EMBA2007) and Deputy General Manager of East Best & Lansheng Group’s Investment Department Ms Chen Aixin welcomed the CEIBS group. Participating faculty included Associate Professor of Management Pablo Cardona, Assistant Professor of Management Zhang

Yu and Assistant Professor of Management Byron Lee. The company visit was organised by the CEIBS Centre for Teaching and Learning (CTL) to help faculty gain a first-hand understanding of the challenges faced by Chinese companies.

Then on October 11 another group of CEIBS professors had a half-day research visit to ROI Award. The group included Professor of Market ing Wang Gao, Professor of Management Practice Sophie Chen, Adjunct Professor of Economics John Cai, Professor of Human Resources Management and Organisational Behaviour Tae-Yeol Kim,

as well as three Assistant Professors of Management: Zhang Yu, Sebastian Schuh and Emily David. They were welcomed by He Xinhao (EMBA 2015), founder of ROI Award, who gave them a briefing on the history of the company as well as the business cases that have won awards. Founded in 2008, ROI Award is currently Asia's most valuable award when it comes to assessing creativity.

Deputy Director of Alumni Association Tanya Fu joined faculty for the two visits.

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alumni voice • linking in

CEIBS Alumni Crowd Fund Harmony Space Café in Beijing

CEIBS alumni have a new meeting

place in Beijing’s 798 Art Zone. A

café, Harmony Space, which was

funded by contributions from 200

CEIBS alumni, opened its doors on October 15

with a ceremony that was attended by school

leaders, faculty and alumni. They were joined

by Chairman of Beijing 798 Cultural Creative

Industry Investment Company Wang Yanling and

the café’s designer Leng Yanming.

Pres ident of Harmony Space Li Dandan

thanked CEIBS, the 798 Art Zone Management

Committee and Seven Star Group for supporting

the project, and the Executive Committee of

CEIBS a lumni that worked hard to ge t the

project off the ground. In addition to Li Dandan,

committee members Sun Xuefeng, Zheng Delin,

Zhang Rongyao, Xu Ying, and Chi Jingchao were in

attendance, as were CEIBS alumni representatives

Chen Hui, Liu Peihu and Lv Hongli who initiated

the café project. It is hoped that Harmony Space

will not only be a new meeting point for CEIBS

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alumni, but also a learning place for them, Li

Dandan said.

Santander Chair in Economics and Finance

Professor Xu Xiaonian lauded Harmony Space as,

“an embodiment of CEIBS alumni’s proactivity

and creativity”. Following the Opening Ceremony,

he gave a lecture there titled “Entrepreneurs and

Innovation”.

Two alumni projects have already begun a

strategic cooperation with Harmony Space. Deng

Fei, a renowned entrepreneur in philanthropy in

China, spoke at the ceremony about his Union of

Rural Children Commonweal project, and Wang

Yanling introduced his 798 EPARTY art project.

Operations Director of CEIBS Beijing Campus

Catherine Hsiao also spoke at the ceremony,

while Zheng Delin moderated. Harmony Café has

already been home to several events, including a

CEIBS Alumni Mobile Internet Association event

and a lecture on music appreciation.

105


linking in • alumni voice

From left: Guan Tiechui, Xiao Bin, Li Dandan From left: Deng Fei, Xiao Bin, Wang Yanling, Zhang Rongyao

CEIBS MANAGEMENT COMMITTEE

Professor Pedro NUENO, European PresidentProfessor LI Mingjun, Chinese President Professor XU Dingbo, Associate Dean

Professor ZHANG Weijiong, Vice President and Co-Dean

Dr Snow Zhou, Assistant PresidentProfessor DING Yuan, Vice President and Dean

CURRENT FACULTY MEMBERS

CAI, John, PhDEconomics

CARDONA, Pablo, PhDManagement

CHANG, Vincent, PhDEntrepreneurship

CHEN, Jieping, PhDAccounting Zhongkun Group Chair of Accounting

CHEN, Shaohui, PhDManagement Practice

CHEN, Shimin, PhDAccountingZhu Xiaoming Chair in Accounting

CHEN, Weiru, PhDStrategy

CHIANG, Jeongwen, PhDMarketing

CHNG, Daniel Han Ming, PhDManagement

DAVID, Emily M.Management

DING, Yuan, PhDAccountingCathay Capital Chair in Accounting

FANG, Yue, PhDDecision Sciences

FARH, Jiing-Lih (Larry), PhDManagement

FERNANDEZ, Juan Antonio, PhDManagement

GONG, Yan, PhDEntrepreneurship

GutSAtZ, MichelMarketing

HAN, Jian, PhDManagement

HuANG, Ming, PhDFinanceLa Caixa Chair in Finance

HWANG, Yuhchang, PhDAccounting

JIANG, Jiangqing, PhDFinance

KIM, tae Yeol, PhDOrganizational Behavior and Human Resource Management

LEE, Jean S K, PhDManagementMichelin Chair in Leadership and HR

LEE, Byron, PhDManagement

LOW, Aaron H.W. PhD Finance

LI, Mingjun, PhDManagement

LIANG, Neng, PhDManagement

LIN, Chen, PhDMarketing

MEYER, Klaus E., PhDStrategy and International BusinessPhilips Chair in Strategy and International Business

Moran, Peter, PhDStrategy

NuENO, Pedro, DBAEntrepreneurshipChengwei Ventures Chair in Entrepreneurship

PARK, Hyun Young, PhDMarketing

PARK, Sam (Seung Ho), PhDStrategyParkland Chair Professor of Strategy

PRASHANtHAM, Shameen, PhDInternational Business & Strategy

PRICE, Lydia J., PhDMarketing

RAMASAMY, Bala, PhDEconomics

RIBERA, Jaume, PhDProduction and Operations ManagementPort of Barcelona Chair in Logistics

RuI, Oliver, PhDFinance and AccountingZhongkun Group Chair of Finance

SAMPLER, Jeffrey, PhDManagement

SCHuH, Sebastian, PhD Management

SHENG, Songcheng, PhDEconomics and Finance

Su, Xijia, PhDAccounting

tSAI, terence, PhDManagement

tSAMENYI, Mathew, PhDAccounting

tSE, Kalun, PhDFinance

tSIKRIKtSIS, Nikos, PhDOperations Management

VELAMuRI, S. Ramakrishna, PhDEntrepreneurship

WANG, Cong, PhDFinance

WANG, Gao, PhDMarketing

WANG, Jing, PhDMarketing

WANG, Jun PhD Finance

WOOD, Jack Denfeld, PhDManagement

Wu, Ho-Mou, PhD Economics

Wu, JinglianEconomics Baosteel Chair in Economics

XIANG, Yi, PhDMarketing

XIN, Katherine R., PhD ManagementBayer Chair in leadership

Xu, Bin, PhDEconomics and FinanceWu Jinglian Chair in Economics

Xu, Dingbo, PhDAccountingEssilor Chair of Accounting

Xu, Xiaonian, PhDEconomics and FinanceSantander Central Hispano S.A Chair in Economics and Finance

YEuNG, Arthur, PhD Management

Yu, Fang (Frank), PhDFinance

ZHANG, Hua, PhDFinance

ZHANG, Weijiong, PhDStrategy

ZHANG, Yimin, PhDFinance

ZHANG, Yu, PhD Management

ZHAO, Xiande, PhDOperations and Supply Chain Management

ZHAO, Xinge, PhDFinance and Accounting

ZHOu, Dongsheng, PhDMarketing

ZHu, tian, PhDEconomics

ZHu, Xiaoming, PhDManagementZhongtian Chair of Management

RESEARCH CentresCase Development CenterDirector: Prof. LIANG, Neng

Centre of Chinese Private EnterprisesDirector: Prof. ZHANG, Weijiong

CEIBS Centre for Healthcare Management and PolicyDirector: Prof. CAI, John

the Euro-China Center for Leadership and ResponsibilityDirector: Prof. PRICE, Lydia

Leadership Behavioural LaboratoryDirector: Prof. LEE, Jean

China Outsourcing InstituteDirector: Prof. ZHU, Xiaoming

CEIBS Lujiazui Institute of International Finance Director: Prof. JIANG, Jianqing

Center for Automotive ResearchDirector: Prof. ZHAO, Xiande

CEIBS Centre on China InnovationDirector: Prof. HAN, Jian

CEIBS-Pudong Service Economy Research CentreDirector: Prof. ZHU, Xiaoming/Prof. NUENO, Pedro

Centre for Globalization of Chinese CompaniesDirector: Prof. XIN, Katherine /Prof. MEYER, Klaus

CEIBS Research Centre for Emerging Market StudiesDirector: Prof. SAM, Park

CEIBS Centre for Family HeritageDirector: Prof. LEE, Jean/ Prof. RUI, Oliver

the Shanghai Institute of Digitalization and Internet FinanceDirector: Prof. ZHU, Xiaoming

CEIBS Centre for Arts & Cultural StudiesDirector: Prof. ZHU, Xiaoming

CEIBS-World Bank China Centre for Inclusive Finance Director: Prof. WANG, Jun

CEIBS-GLP Center of Innovation in Supply Chain and Services Director: Prof. ZHAO, Xiande

CEIBS Institute for Entrepreneurship & Innovation Director: Prof. ZHU, Xiaoming

CEIBS Shoushan Center for Wealth Management Director: Prof. RUI, Oliver

CEIBS Shanghai Research Center of Cross Broder E-CommerceDircetor: Prof. ZHU, Xiaoming

Prof. DING, Yuan (Chairman)CEIBS, PRC

Prof. CANALS, JordiIESE Business School, Spain

Prof. CREMER, Rolf D.Global Bridges China Forum, Germany

Prof. DE BEttIGNIES, Henri-ClaudeINSEAD, France

Prof. DE MEYER, ArnoudSingapore Management University, Singapore

Prof. KLAG, Michael J.The Johns Hopkins Bloomberg School of Public Health, USA

Prof. LIKIERMAN, AndrewLondon Business School, U.K.

Prof. NuENO, PedroCEIBS, PRC

Prof. PALADINO, MarceloIAE Business School, Argentina

Prof. PALEPu, KrishnaHarvard Business School, USA

Prof. QIAN, YingyiTsinghua University School of Economics and Management, PRC

Prof. RAMANANtSOA, BernardHEC Paris, France

Prof. tuRPIN, DominiqueIMD, Switzerland

Prof. ZHANG, WeijiongCEIBS, PRC

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