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FINANCIAL DUE DILIGENCE

To successfully enter the China market, you may have different options, such as working with a local sales/service agent, setting up a business from scratch, or finding a local partner and establishing an equity joint venture or cooperative joint venture.

Working with local partners, you will be able to access local market expertise, well-established sales channels, due diligence accounting, local brand names, local finance, and support from local governments, etc. However, you will also realize the credentials of the local partner, background of local management, and the fairness of the financial statements.

You may have a deep concern regarding the following issues:

√ Any significant tax risks?

√ Any illegal activities?

√ Any other unrecorded and contingent liabilities?

√ Any significant loopholes in corporate governance?

√ Any sound internal control policy in place?

√ All the assets recorded in accounts still exist?

√ Any impairment issues for the existing fixed assets?

√ Any provisions required for receivables and stocks?

√ Revenue not manipulated?

Our customized financial diligencecan be conducted exactly according to your specific instructions, address all your concerns and provide you a full picture of your targeted local partner.

First of all, university reputation is extremely important in China and is directly related to salary expectations. Graduates from the top universities can command much higher salaries in comparison to the rest of the graduate market.

Secondly, you may need to use a couple of methods, such as written tests, group discussion or one-to-one interviews, to assess the quality of the graduates. It works best if you give prospective candidates more information upfront on how to approach the selection process and tell them what you are looking for with regard to the on-line application, the tele interview and the competencies you seek.

You should be very clear about the compensation package on offer since outstanding students generally receive a couple of offers when they graduate. Without competitive offer, all your effort shall become sunk cost.

Foreigners can only work for Chinese companies under certain conditions, which mean employers may not be able to find proper employees within China. Generally speaking, with convincing evidence foreigners can work in the PRC only after obtaining Employment Permits and Residence Certificates.

Generally speaking, it is not difficult to find a recruiting channel. You may communicate the information to your targeted candidate through following ways.

Put your advertisement on certain recruiting websites

Do campus recruitment

Attend job fairs

Put your ads in the newspaper

Ask recommendation from your employees

For certain high level positions, you can use a headhunting firm or consulting firm who have sufficient talents databases.

Due to the rapid increase of foreign investment and growth of local firms, experienced local talent is hard to find especially in the sectors of marketing, communications, advertising and public relations.

For foreign companies the challenge of recruiting and retaining staff continues to be a challenge – the skills shortage is becoming worse by a steady influx of new companies, business expansion and local companies poaching staff.

In order to win the talents war in China marketplace, you need to carefully develop a plan to retain your most talented people from the following aspects.

a) Develop a strong corporate culture with clear succession and development plans

b) Provide good salaries

c) Define clear career prospects

d) As long as your company is large enough, provide a private pension system, health insurance or loans to help employees to buy flats, cars or education for their children

e) Provide training

f) Understand the motives of your employee why they work with you.



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