As a usually Hongkonger on a house of red chip Cosco Shipping Ports, Kelvin Wong Tin-yau is entirely wakeful of a need to work closely and respectfully with his comparison executives in a mainland.
Cosco Shipping Ports, one of China’s dual largest pier operators, is a auxiliary of a mainland’s largest shipping firm, China Cosco Shipping Group.
It’s a Hong Kong red chip that runs ports in vital mainland cities including Shanghai, Qingdao, and Yantian as good as during abroad sites including Greece, Belgium and Turkey.
Its comparison government structure is standard of any red chip, in that a authority and many comparison executives are allocated by a mainland parent.
But internal talent is hired to run a Hong Kong government team.
Wong, a former landowner and researcher and a company’s emissary handling director, assimilated a business 20 years ago and still stays a usually Hongkonger on a house of directors.
“Working in a red chip association is opposite from a Hong Kong firm,” he pronounced in an talk with a South China Morning Post during a company’s bureau in Sheung Wan.
“In a Hong Kong company, a trainer determines process and that’s routinely implemented immediately. In a Chinese company, you’ve got to build accord from other departments on their views on how to exercise policies many effectively. They are some-more endangered with harmony.”
As a Hongkonger, Wong pronounced he can move general knowledge to a company, while a mainland comparison executives are some-more informed with mainland policies, that assistance drive a association towards seizing business opportunities.
“Despite a opposite backgrounds, we trust Hong Kong professionals can work good together with their mainland colleagues.
“At a finish of a day, we all wish to contribute, and make certain a association achieves improved increase for shareholders,” he said.
Wong pronounced over a past dual decades, he has seen many examples of mainland primogenitor firms giving invariable support to their Hong Kong red chip arms.
This was quite loyal after a Asian financial crisis, when some red chips found that banks were hesitating to lend to them.
Wong pronounced his primogenitor company’s authority has shown strong support for a business, that has helped attract abroad investors, particularly.
Mainland parents, he adds, mostly offer bank guarantees to red chips, while chairmen can assistance pave a approach for investment, mostly by general roadshows or other appropriation initiatives.
“Externally, that kind of activity demonstrates not usually full commitment, though also bravery from a primogenitor company, that goes a prolonged approach to alleviating any concerns investors and bankers competence have, generally during times of financial crisis,” Wong said.
“Internally, it also promotes a constructive culture, if a primogenitor and a red chip can work good together – like organisation on a ship.
“This kind of tighten relationship, that we have enjoyed, helps companies by tough times and creates for a improved corporate image.
“Overall, we feel it is irrelevant if we are from Hong Kong or from a mainland,” he added.
“As prolonged as we both wish what’s best for a growth of a company, we can work together well.”
Article source: http://www.scmp.com/business/companies/article/2002900/what-its-be-only-hongkonger-red-chip-board