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1 Chapter 1 The Long March Made in China II III Paraphrasing Summarizing Translation Questions and answers Discussion 1 11

2 IV. V. 1 China s economic development in 2003 The year of 2003 was important yet unusual for China in its development, in which China achieved a great deal in the reform and opening up drives. China overcame all the difficulties caused by the outbreak of SARS epidemic and other severe natural disasters, and maintained a high economic growth of 9.1 per cent averaged for the year. GNP readings in that year rose over USD 1,400 billion, ranking the 6th of the world s largest economies, and its per capita GDP was past the milestone of USD 1,000. The national financial institutes registered a remarkable growth. Export and import increased substantially with a combined total of more than USD 850 billion, up by 37.1% over the same period of the previous year. And the same figure eased China into the 4th largest trader in the world, with a growth of 34.6 per cent in export and 39.9 per cent in import. China s import from the rest of the Asian region increased by 42.2 per cent, including Japan (38.7 %), India (51.0%), South Korea (87%) and the ASEAN countries and regions (51.7 %), respectively. China is now a main trade partner with other Asian countries and regions. An accumulated total of USD 53.5 billion in foreign direct investment was channeled for actual use in the year of By the end of that same year the outstanding balance of foreign exchange reserves stood at USD billion and Renminbi remained stable. These achievements point to the all-time high in the national strength and capability. 2. Far East Economic Review 2 11

3 the Long March Trish Saywell Trish Saywell in Guangzhou and Shanghai [ ] DVD

4 3. China s biggest brands by Forbes ( ) Many Chinese manufacturers have little choice but to go global. Fierce competition at home means future profits lie in selling branded goods in rich countries, just as Japanese and South Korean firms found. It will require a combination of attractive products, good service and first-rate technology. Top Chinese companies are now getting into the branding game. The following are China s top 15 brands to watch: 1. Haier: Home appliances 2. CIMC (China International Marine Containers-Shenzhen): Freight containers 3. Tsingtao: Beer 4. Tong Ren Tang: Traditional medicines 5. Yanjing: Beer 6. Pearl River: Pianos 7. Legend/Lenovo: PCs 8. Ancai (Anyang, Henan): TV tubes 9. Shanghai Zhenhua: Container cranes and port machinery 10. Erdos: Cashmere 11. Wanxiang Qianchao (Hanzhou, Zhejiang): Automotive parts 12. NCPC (North China Pharmaceutical Group Corp. Shijiazhuang, Hebei): Pharmaceuticals 13. FAW (First Automotive Works Changchun, Jielin): cars 14. Broad (Beijing): Air-conditioning 15. COSCO (China Ocean Shipping--Beijing): Shipping 4. Grey China 4 11

5 Grey China Advertising Ltd., located in Beijing. It is a partner company of Grey Worldwide, a subsidiary of Grey Global Group. Grey Worldwide: Grey Worldwide, our global advertising agency, is one of the ten largest advertising agencies in the world, with offices in over 90 countries. It has one overriding focus: to produce truly great creative work, to produce work that soars, makes us proud and fosters the brand relationship with consumers work that helps our clients prosper. GreyWorldwide provides highly creative services including brand ideas and strategies, brand planning, creative development and production. Our agency is organized into four geographical units: North America; Europe, Middle East & Africa (EMEA), Asia-Pacific and Latin America. In 2000, when Grey Global Group (formerly Grey Advertising) became a holding company of many partner companies, each focused in a different marketing communications business discipline, we separated our largest business advertising into a single new agency: Grey Worldwide. Worldwide Headquarters: 777 Third Avenue New York, NY (212) Ed Meyer, CEO Grey Global Group Grey Global Group: Grey Global Group has a celebrated history of excellence and innovation. Our success story began more than 85 years ago In 1917, Grey was a one-man, one-room shop. The one man was Larry Valenstein, who borrowed $100 from his mother to start a direct mail company, which he called Grey Studios. By 1925, he had already hired an ambitious assistant named Arthur Fatt and had acquired enough consumer accounts to necessitate a name change to Grey Advertising. They had no money, no 5 11

6 connections, no advanced education and no experience in the advertising business. They trusted their native wit, intelligence and street-smart savvy to generate ideas that would build business for their clients and, as a result, for them. Today, Grey has evolved from a one-client, one-room agency to an $12 billion communications powerhouse. Grey Global Group is the 7th largest communications company in the world, and each of its partner companies is focused on being best in class in its particular specialty. The entrepreneurial spirit and vitality that defined Grey s beginnings continues to characterize the steps we are taking to meet the demands of the new century. 5. Kearney History Since 1926 we ve been providing high-value management consulting services that s more than 75 years filled with significant growth and geographic expansion, and long-term relationships with major companies across the globe. For our first 35 years, we stayed true to our Chicago roots until establishing an additional location in Three years later, we opened our first non-u.s. office in Düsseldorf and went on to create a presence in other parts of Europe, North America, South America, Asia and Africa. In 1995, we joined forces with EDS, a leader in global technology services. Today we are an independent subsidiary consisting of 4000 employees based in more than 60 cities and 35 countries. From our consulting roots in operations and the manufacturing industry, we have expanded our service offerings to meet the needs of a changing business world, technological environment and global marketplace. With over three-quarters of a century of experience, a solid ever-growing base of intellectual capital and many meaningful business relationships behind us, we re looking forward to an even bigger future. 6 11

7 Overview Who are we? We are one of the largest high value management consulting firms in the world. We have a broad range of capabilities and expertise in all major industries and we offer a full spectrum of services, including strategy and organization, operations, business technology solutions, enterprise services transformation and executive search. What do we do? Our firm focuses on CEO-level concerns traditional issues such as leadership, globalization, enterprise transformation and product strategy, especially focusing on the challenges of a difficult economy. Only A.T. Kearney combines high value management consulting, expanded capabilities and proven solutions that deliver tangible results. What is out mission? Our mission describes the value we intend to deliver to our clients, now and into the future. We are dedicated to acheiving profound, tangible results for our clients as a management consulting firm. What do we promise? We deliver tangible results. Our clients receive a high return on their consulting investment. We bring new intellectual content and solutions that work. Our officers are actively involved in every engagement. A.T. Kearney is known for its ability to provide practical, concrete recommendations and support clients right through implementation. We do this in an environment that encourages a working partnership. General information Staff 4000 employees worldwide, approximately two-thirds are consultants; our people have broad industry experience and come from leading business schools. We staff client teams with the best 7 11

8 people throughout the A.T. Kearney world Industry specialties Aerospace & defense Automotive Communications & media Consumer industries & retail Financial institutions Government High tech & electronics Pharmaceuticals/health care Process industries Transportation & travel Utilities Service practices Strategy consulting Business Technology Operations consulting Enterprise Services Transformation Client satisfaction From surveys conducted in the first half of 2004, 96.9% said they would use A.T. Kearney in the future. Over 98% rated our consultants as good to excellent. Heritage Founded in 1926; delivering meaningful results to clients for more than 75 years Parent company A.T. Kearney is an independent subsidiary of global services leader EDS. 8 11

9 EDS EDS provides a broad portfolio of business and technology solutions to help its clients worldwide improve their business performance. EDS' core portfolio comprises information-technology, applications and business process services, as well as information-technology transformation services. EDS' A.T. Kearney subsidiary is one of the world's leading high-value management consultancies. We support the world's leading companies and governments in 60 countries. Employees: more than 120, revenues: more than $20 billion Ranked 87th on the Fortune 500 VI. 1 which is image-driven (p. 1) image driven image-driven, adj., 2 joint venture (p.2) venture a business enterprise involving some risk in expectation of gain, joint venture 3. distribution channels (p.2) distribution channel the set of firms and individuals that take title, or assist in transferring title, to the particular product or service as it moves from the producer to the consumer middlemen (wholesaler) (retailer) 4. premium brands (p. 2) 9 11

10 products regarded as superior in quality and sold at a higher price 5. status-conscious domestic consumers (p.2) 6 Meidi (p. 2) Midea 7. white goods (p. 3) gray goods VCR VCD VC 8. ABN Amro Securities (p. 4) 9. Unilever (p. 4) 11 1 holding company 2 fully owned company 4 Ponds Vaseline Pears Maxam Signal 10. Laocai (p. 5) 11. Coty (p. 5) 10 11

11 12. believes the brand----overhauled, repackaged and resold at a premium---- can give Tsingtao a run for its money in overseas markets (p. 5) overhauled, repackaged and resold at a premium (if ) give Tsingtao a run for / 13. Yue-Sai Kan Cosmetics (p. 5) 11 11