Cash Management: Negotiating China Part I

WTO entry may not be the miracle needed to revolutionize treasury operations in China, but companies are benefiting from gradual improvements in the system. Part I of a two-part feature.

While treasurers around the region fit storm windows to their companies in preparation for the impact of world conflict, those running foreign companies in China seem a lot less pessimistic these days. Probably because they have been fighting their own localized war for the past decade a battle to make profits in a country where poor infrastructure, bureaucratic roadblocks and a healthy dash of xenophobia make corporate life a daily chore.

Two and half years ago when I visited clients in China and asked them about business, they would hang their heads and say 'Well, we are in it for the long haul', says Richard Jaggard, senior vice president of global treasury services at Bank...

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