Recruiting in China

Are you looking for more than just a better job? Are you looking for a more rewarding profession, one that better aligns with your skills, interests, values, and plans for the future? If so, be prepared to face a lot of reflection and planning.

It’s important to take a serious look at the many possibilities and outcomes before you jump into a new career or field. Consider these 10 tips as you make a transition from your present career to your next:

Have a clear plan. The smartest move that you can make is to carefully map out an effective career-change strategy. This should include a detailed action plan that takes into consideration finances, research, education, and training. Keep in mind that a successful career change can take several months or longer to accomplish, so patience is key.
Wait for the right time. The best time to consider a new career is when you are safely ensconced in your existing position. It goes without saying that a steady paycheck can relieve a lot of pressure. There are many ways to take steps toward your new career path; you can volunteer or offer yourself as a freelancer or consultant. This can help you to “test the waters” in your desired new field.
Be sure of your reasons. Just because you’re unhappy in your current job isn’t a strong enough reason to make a total career break. Carefully analyze whether it is your actual career you dislike or whether your employer, supervisor, or office situation is the problem.
Do your research. Be sure to examine all possibilities before attempting a career jump. Talk to people in your network; read career and job profiles; meet with a career management professional. The more information with which you arm yourself beforehand, the more successful you will be.
Decide what’s important. This is the best time for thoughtful self-reflection. Ask yourself what it is you really want to do with the rest of your life. Take an honest inventory of your likes and dislikes, and evaluate your skills, values, and personal interests. Many people who are looking to change careers do so to find a balance between their personal and professional lives, to accomplish the right mix of meaning and money. You may want to consider consulting a career coach and/or taking a career assessment test.
Examine your qualifications. Do you have the necessary experience and education to be considered a qualified candidate in your desired career field? If not, you need to find a way to bridge the credentials gap. This might mean making your goal more long-term while you go back to school or receive additional training.
Learn about the industry. Get a feel for the field that interests you. Read industry journals, attend conferences, and talk to people in the profession about what they do. Learn whether your target industry has growth potential. Trade magazines, organizations, and entrepreneurs have created a slew of Web sites that offer searchable databases where job openings in many specific industries are listed. Start looking at these sites on a regular basis.
Develop your network. Begin nurturing professional friendships early and tend them regularly. Professional organizations and job industry trade associations are a good place to start. Many of them hold networking events and job fairs.
Update your job search skills. It is especially important to polish up your job-hunting skills and techniques before you get out there and start networking. Make sure you are using your time and resources as effectively as possible.
Pay your dues. Don’t expect to begin at the same level of seniority in your new career that you held in your old one. It will take time to move up the ranks, but if you find a new career that you absolutely love, it will be worth it.

BEIJING (XFN-ASIA) - The World Bank will name a Chinese academic, Justin Lin, as its next chief economist, the Wall Street Journal reported.

The report said the move is intended to increase the presence of the developing world in the bank's senior management.

Lin, 55, also known as Lin Yifu, replaces Francois Bourguignon, who retired in October, the report said.

Lin founded the China Center for Economic Research at Peking University, and advises the Chinese government. He will be the first Chinese citizen to be the bank's chief economist.

The newspaper said final approval by the bank's governing board is expected by the end of the month.

Trina Solar (NYSE:TSL) Ltd. said Thursday it has accepted the resignation of Sean Shao, the company's chief financial officer, who is leaving the company to pursue other interests.

The China-based manufacturer of solar-power (OTCBB:SOPW) products said Terry Wang will replace Shao, who will leave the company March 31.

Wang recently joined the company as senior vice president of finance. Prior to joining Trina Solar, Wang served as executive vice president of finance for Spreadtrum Communications Inc. (NASDAQ:SPRD)

Shares of the company closed Wednesday at $37.58.

Chinese online game operator The9 Limited has announced that its senior vice president and CFO, Hannah Lee, is resigning her position effective February 2008 to pursue other interests. The company says it is searching for a new CFO, and expects to announce that person's appointment prior to Lee's departure.

The9 both operates and develops games in the Chinese market, either directly or through affiliates. Most notably, it operates Blizzard's World of Warcraft in the region, in addition to Granado Espada and its first proprietary title, Joyful Journey West in mainland China.

The company has also recently obtained licenses to operate Guild Wars, Hellgate: London, Ragnarok Online 2, Emil Chronicle Online, Huxley, FIFA Online 2, Audition 2, Field of Honor and the original Audition. It currently has two additional proprietary titles, Fantastic Melody Online and Warriors of Fate Online, in development.

Said Lee, "It has been my pleasure to serve as the Chief Financial Officer of The9 for over four years. I believe the company remains well- positioned in the growing online game industry. With its rich and diversified game portfolio, I believe The9 will continue to enjoy long-term growth and deliver sustained growth for its employees and shareholders."

With U.S. auto sales forecast to hit a 10-year low in 2008, Detroit's Big Three carmakers are aiming to rev up sales in emerging markets.

Developing nations will account for more than 75% of the auto industry's unit sales growth over the next decade, says market research firm CSM Worldwide. Most will come from the BRIC countries: Brazil, Russia, India and China.

General Motors GM, Ford F and, to a lesser extent, Chrysler hope to grab a big slice. But they're in for a battle with other global giants as well as local firms like India's Tata Motors TTM, which is close to buying Ford's Jaguar and Land Rover brands.

Competition is fiercest in developing countries with their own local producers, says Maryann Keller, head of a Greenwich Conn.-based auto consultancy. China and India are examples.

But emerging markets without local automakers -- Brazil, Thailand and Poland -- also make attractive targets for global giants and newcomers.

"It isn't going to be just the Japanese, Americans and Europeans competing for (developing world) sales, it's going to be Korean, Chinese and Indian carmakers as well," Keller said. "The automotive world is opening up to greater competition from new emerging companies we've never heard of. And there's no reason to assume foreign companies are going to dominate in Russia, China or India."

GM has a top-three market share position in China, Russia and Brazil. In 2007, GM's sales increased 74% in India, 18% in China, 19% in Latin America and the Middle East, and 9% in Europe.

Toyota and GM were neck-and-neck in 2007 global sales. Toyota has been gaining ground in China. Toyota also opened a factory in St. Petersburg, Russia, late last year. The plant will produce 50,000 cars a year, Toyota says.

"The debate going forward is whether GM's lead over Toyota in BRIC countries is sustainable," said Lehman Bros. analyst Brian Johnson.

Toyota TM has forecast combined sales of 900,000 vehicles in China and Russia for 2008, a jump of almost 40% from last year.

In BRIC countries, Ford only ranks among the top three foreign companies in Russia.

GM and Ford are well-positioned for global growth, says Michael Robinet, CSM's VP of global vehicle forecasts.

"GM is doing well in the BRIC countries. It's focusing more assets on Russia and India," he said. "Ford is getting stronger in China and it's well-established in Brazil."

Chrysler has yet to make a dent in emerging markets. But it's announced a goal to double overseas sales over the next four years.

"Chrysler is trying to catch up," said Bruce Belzowski, auto analyst at the University of Michigan's Transportation Research Institute.

He points out that Chrysler largely lost its global reach when parent Daimler sold more than 80% of its stake in Chrysler to private equity firm Cerberus Capital Management.

"Daimler is gone now," Belzowski said. "Chrysler is trying to build a B-size (subcompact) car with Chery (Automobile) for China's market."

It's a large and growing market. CSM estimates China's auto sales will grow 60% to 10.9 million by 2013, up from 6.8 million last year.

Among foreign suppliers in China, Volkswagen leads with 18% market share, followed by GM at 10%.

Toyota overtook Korea's Hyundai for third in 2007, says Tim Dunne, analyst at J.D. Power & Associates.

Japanese automakers have gained share in China, Dunne says, while European firms have held steady. The combined share of U.S. automakers slipped in 2007, he says.

Chinese firms such as Chery had almost 30% of the market last year, with Japanese companies at 28%.

Chasing The Nano

CSM forecasts India's auto market will more than double from current levels to 4.16 million cars by 2013.

Korea's Hyundai leads foreign automakers with about 14% market share in India. GM and Ford trail with 4% and 3%, respectively.

Ford on Jan. 8 said it would spend $500 million to set up a small car factory in southern India. Overall, it's investing $875 million in the country.

GM is spending $350 million to set up its second factory in India.

Both GM and Ford face an uphill battle vs. India's Tata, which holds 23% of the market. Tata rolled out the world's cheapest car -- the $2,500 Nano -- in early January. The Nano is said to get 50 miles per gallon but lacks power steering and power brakes.

Tata expects to sell 250,000 Nanos a year in its home market. Within three years, Tata plans to export its low-cost, no-frills car to other developing countries.

Analysts say Ford is aiming to produce a car for India's market with a $7,500 sticker price. GM is said to be working on a sub-$5,000 car intended for emerging markets.

What About Profits?

Ultracheap cars might win Detroit's Big Three market share, but their profitability is questionable, Keller says. "The growth is in small vehicles, but nobody is going to make money on these (ultracheap) cars."

Meanwhile, Chinese consumers are already trading up. The average car in China costs about $15,000 vs. $27,000 in the U.S., Dunne says.

Aside from BRIC countries, other fast-growing auto markets include Thailand, Indonesia, Mexico, Poland and Ukraine. Sales also are rising fast in Africa and the Mideast.

While overseas markets beckon, GM and Ford will stay under attack in the U.S.

"Every carmaker still wants to come into the U.S.," Keller said. "Why? Because we buy big expensive cars."

Citigroup has agreed with a Chinese partner to establish a mainland investment banking joint venture with Central China Securities, a mid-sized brokerage, ahead of an expected opening of the sector to more overseas participation.

The venture is expected to apply for regulatory approval in the coming weeks, and comes as Beijing is poised to relax a two-year ban on foreign investment in the country’s booming domestic securities industry.

Citi’s move follows those of Credit Suisse and Morgan Stanley, which last month signed separate agreements with Chinese partners to establish mainland investment banking joint ventures. If approved, the JV would become the latest plank in Citi’s mainland platform, which features a stake in Shanghai Pudong Development Bank, de facto control of Guangdong Development Bank and its own retail branch network.