Advertisement

The Chemical Noodle Firm: What Makes Chinese Companies Different?

  • Joel Backaler

Abstract

Ren Jianxin, founder of Chinese chemical firm BlueStar, was not a businessman by trade. Nor was he a famous noodle chef, as his side business might suggest. He began his career, like many CEOs of state-owned enterprises (SOEs) in China, by working for the government. Ren served in an advisory role at the Ministry of Chemical Industries, a government position that would be an ideal job for many Chinese. Government jobs in China are commonly referred to as tiefanwan (铁饭碗)or “iron rice bowls” because they offer stable lifetime careers. However, Ren did not wish to pursue a lifelong career in government — he wanted to go into business. In 1984, at the age of 26, with a 10,000 RMB loan and seven business partners, Ren left government. He jumped into the chemical cleaning business and founded BlueStar. Ren built his company’s initial reputation and business by cleaning industrial boilers. The work was not glamorous, but over time his firm gained a reputation for its high quality chemical cleaning services.1

Keywords

Chinese Company Chinese Firm Business Line Overseas Investment Shadow Banking 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

Preview

Unable to display preview. Download preview PDF.

Unable to display preview. Download preview PDF.

Notes

  1. 2.
    China National Blue Star Homepage (Chinese). “China National Blue Star Homepage (Chinese).” 2013. Web. 8 September 2013. [http://www.chinabluestar.com/lanxing/].Google Scholar
  2. 4.
    Malan Noodle Homepage. “Brief Introduction.” 2013. Web. 8 September 2013 [http://www.malan.com.cn/modules/tinyd0/index.php?ids2].Google Scholar
  3. 6.
    Caijing Guancha. “Guoyouqiye haishi jiti qiye? Haier jituan chanquan xingzhi zhibian.” 7 July 2004. Web. [http://gb.cri.cn/7212/2004/12/07/1166d)383635.htm].Google Scholar
  4. 10.
    McGregor, Richard. The Party: The Secret World of China’s Communist Rulers. London: Penguin Books, 2010. 56. Print.Google Scholar
  5. 11.
    McGregor, Richard. The Party. London: Penguin Books, 2010. 53. Print.Google Scholar
  6. 18.
    Chen, Shijie. China Quarterly Market Review. Singapore: Frontier Strategy Group, 2013. 4. Print.Google Scholar
  7. 23.
    SASAC Homepage. “Yangqi minglu.” 2013. Web. 8 September 2013. [http://www.sasac.gov.cn/nll80/nl226/n2425/index.html].Google Scholar
  8. 26.
    Renwu Homepage. “Li Yizhong.” 2013. Web. 8 September 2013. [http://renwu.hexun.com/figure3632.shtml].Google Scholar
  9. 30.
    BBK Homepage. “Company Profile.” 2013. Web. 8 September 2013. [http://www.gdbbk.com/about.asp?id=526].Google Scholar
  10. 35.
    NDRC Homepage. “Wei jianjie.” 2013. Web. 8 September 2013. [http://www.ndrc.gov.cn/jj/default.htm].Google Scholar
  11. 37.
    MOFCOM Homepage. “Zhuyao zhize.” 2013. Web. 8 September 2013. [http://www.mofcom.gov.cn/mofcom/zhizi.shtml].Google Scholar
  12. 38.
    SASAC Homepage. “Shouye.” 2013. Web. 8 September 2013. [http://www.sasac.gov.cn/nll80/index.html].Google Scholar
  13. 40.
    SAFE Homepage. “Jiben jineng.” 2013. Web. 8 September 2013. [http://www.safe.gov.cn/].Google Scholar
  14. 42.
    MOF Homepage. “Shouye.” 2013. Web. 8 September 2013. [http://www.mof.gov.cn/].Google Scholar

Copyright information

© Joel Backaler 2014

Authors and Affiliations

  • Joel Backaler
    • 1
    • 2
  1. 1.Frontier Strategy GroupUSA
  2. 2.The National Committee on United States-China RelationsUSA

Personalised recommendations