I recently retired as UK senior partner of BDO after 23 years as a partner with the firm. Last year, I took up a position as visiting professor at Xiamen University, China. My wife is Chinese and I decided to spend three months exploring business opportunities in the region and trying to learn some Mandarin.
I’m blogging about my experiences in China for Real Business – catch up on my journey so far. Last week, I shopped for beer and wine at Wal-Mart in Chongqing; it was a shabby, busy, basement store selling everything from white goodsto food, clothing to stationery. Wal-Mart have been in China for 15 years, but only made its maiden profit three years ago: sales are growing at double-digit pace, but still represent less than two per cent of global turnover. In May, the country COO and CFO both resigned, for personal reasons, and it has now been announced that 13 stores (including “mine”) have temporarily closed, while managers help investigators who allege that pork products have incorrectly been labelled “organic”.
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.