Taking Issue

摘要

Insisting on majority control, it took Nestle most of the 1980s to negotiate its first direct investment in China. At that time, even one of the world's largest and best capitalised multinationals was nervous about doing such a deal. Fast forward to 2004 and today's China trendsetters are not multinational investors at all but very agile venture capitalists, who feel confident enough to take 10% to 15% stakes in small and medium-size enterprises. Eventually, they are going to exit through listings on stock exchanges around the world.