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  1. Home

  2. About BFA

  3. Conferences & Meetings

  4. Press Center

  5. Members & Partners

  6. BFA Academy

  7. Areas of Focus

  8. Regional Cooperation

Members
Partners

BFA Seattle Conference| New Partnerships of Technology Innovation
Origin:Boao Forum for Asia      Time:2014-09-12 11:05:22    Views:616690

Energy, Resources & Sustainable Development Conference
Dialogue 3 : New Partnerships of Technology Innovation  


Panelists

Lixin CHENG, CEO, ZTE USA
Manny MENENDEZ, Chairman & CEO, MCM Group Holdings, Ltd. & 8M8 LLC
Gary RIESCHEL, Founder & Managing Partner, Qiming Venture Partners
Josette SHEERAN, President, Asia Society  

In the dialogue 3 of New Partnerships of Technology Innovation on September 6,panelists shared their success stories and lessons they have been through in dealing with between either Chinese organization and other pacific orgnizations and business they have been involved in the United States.

Gary RIESCHEL, Founder & Managing Partner, Qiming Venture Partners argued that the big lesson learnt from 14 different joint ventures he involved between American technology companies and Asia was to build trust and good working relationship. He pointed out a mistake US firms often made was their goals of doing business in China are not clear. Therefore it is important to take time to choose the right partner and investor who really know China well to work with and help them make accurate judgment of situation.

Manny MENENDEZ, Chairman & CEO, MCM Group Holdings, Ltd. & 8M8 LLC agreed to the comments of Gary and shared his recent success story of a clean coal investment case and added that the three things we often hear - mutual respect, mutual understanding and mutual benefit - are the key to success of doing business in China. He suggested that to understand China, the best way is to visit China and work with Chinese and live in China . US companies will find the development of China in recent years a miracle.

Asked about how to be successful in the United States, Lixin CHENG, CEO, ZTE USA stressed that the success of ZTE’S comes from innovation and cooperation with US companies .In addition, ZTE has a unique business model, known as ACW - America, China, worldwide. ZTE brings technology to the US with Chinese engineers and efficient logistics, and sell the product to the global market. It is a win-win story.

In terms of innovation, Cheng said that ZTE is a innovator and also facilitator for corporation. ZTE has now moved to the next stage which he called “Cool ,Green and Open.” “Cool” means ZTE will provide cool products and solutions to the consumers; “Green” means it is vital to pursue sustainability and be environment-friendly for a fast-developing company; “Open” means ZTE will create an eco-system  of win-win and worldwide success.

In recent year, more and more Chinese companies are looking for investment and business partnerships in the U.S. MENENDEZ suggested that Chinese investors should learn from local partners and people their trust. Gary argued that Chinese companies tend to hire people that make them feel comfortable, but not necessarily the best people. He believes that this is a huge mistake in doing business in the U.S. CHENG agreed and added that  the key, for Chinese companies, is to work with local professional organizations instead of going to American government officials as they did back in China, because professional organizations provide better services in the U.S.

When it comes to the obstacles in the China-US cooperation, Josette SHEERAN, President, the Asia Society, believed that there are challenges in China-US bilateral ties. But the two sides could learn to cooperate and find the right balance to establish constructive relations in the future.