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Last updated at: (Beijing Time) Thursday, November 22, 2001

China's WTO Entry Boosts Information Consultation Services

With China soon to become a full member of the WTO, an increasing number of international management consulting firms have swarmed into the country for business opportunities. Not only more and more Chinese enterprises that want to enter the world market but also more and more multinational companies that want to take a share of the Chinese market will need professional consultation assistance.


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With China soon to become a full member of the World Trade Organization (WTO), an increasing number of international management consulting firms have swarmed into the country for business opportunities.

World Consultation Magnates Eye Chinese Market

Some cross-national consultation giants, such as McKinsey, Arthur Andersen and Accenture, have already started a new run of fierce competition in China.

They know quite well that not only more and more Chinese enterprises that want to enter the world market but also more and more multinational companies that want to take a share of the Chinese market will need professional consultation assistance, experts here said.

High-quality Think-tank Indispensable

Li Gang, president of Accenture China Ltd., said China's WTO entry enables more Chinese enterprises to participate in international business activities, which requires them to observe related international conventions and conform to the universal trade standards.

This offers up a goldmine for consulting companies, Li added.

Western economists estimate that enterprises with assets exceeding US$10 million won't survive longer than five years without a high-quality think-tank behind them.

Government Aids to Noost Info Consultation Services

In Beijing, the Chinese capital, the city government will give priority to the development of service industries like information consultation in the next few years to meet the new situation brought about by China's WTO entry, said Chai Xiaozhong of the Beijing Development Planning Commission.

Local governments of other cities and regions also advocate aidding the development of information consultation services in the Chinese market.

Long-term Development Expected

Meanwhile, domestic management consultants companies can also seize opportunities since many foreign enterprises that have entered the Chinese market are not familiar with China's political, economic, and legal systems, and its culture in general, Li said.

He suggested both Chinese and foreign companies make strategic adjustments to meet the new situation and work out a solution that is helpful to settling existing problems and favorable to long-term development.



Information of Some World Info Consultation Services:

McKinsey & Company:
as one of the world's pre-eminent management consulting firms serving companies around the Aglobe on their most pressing issues concerning strategy, organization, and operations, McKinsey & Company began serving clients in China long before the official opening of our Shanghai office in 1993.

Today McKinsey & Company China is well established in strategic locations including Beijing, Hong Kong, Shanghai , and Taipei , serving as the headquarters of McKinsey Asia's Corporate Finance & Strategy, Telecommunication & Electronics, Organization, E-Commerce & Internet, and Financial Service practices.


Arthur Andersen:
 Founded by Arthur Andersen, was a university professor at a prestigious university outside of Chicago, Illinois, and the first to move into public accounting, Andersen is more than 85,000 strong, with 390 offices in 84 countries.

Since 1913, it has been a leader in providing services that challenge clients to think differently. Andersen announced record global net revenue of US$9.3 billion for the fiscal year ended August 31, 2001, marking the eighth consecutive year of double-digit growth.


Accenture:
 Accenture is the world's leading provider of management and technology consulting services and solutions. It reports a revenue of $11.44 billion (before reimbursements) for the fiscal year ended August 31, 2001. It has more than 75,000 employees and more than 110 offices in 46 countries.

Accenture's clients span the full range of industries around the world and include 84 of the Fortune Global 100 and more than half of the Fortune Global 500. In addition, more than 80 percent of the firm's top 100 clients in fiscal year 2000 have been clients for each of the last five years, and more than 50 percent have been clients for at least 10 years.



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