CHONGQING, China — Joe Hinrichs, president, Ford Asia Pacific and Africa, sat Sunday at the 7th Annual Conference of Chongqing Mayor's International Advisory Council (CMIA) on behalf of Ford Motor Company President and CEO Alan Mulally, an advisor on the council for the past six years.
Established in 2006, CMIA with its 33 advisors and 6 consultants was set to bring industry and business leaders together to share their experience and global best practices, to support Chongqing’s drive towards a better tomorrow.
Under this year’s theme “Strategy of ‘Chongqing-based enterprises going global’ － Issues on overseas investment and strategies,” Ford’s Hinrichs was invited to share his views on how to increase the success rate of Chinese acquiring business abroad.
“If a company wants to increase the likelihood of successful mergers and acquisitions, appropriate business models and governance structure need to be determined,” said Hinrichs, “The company needs to identify key players and talents early, to develop a public relations strategy is important as well.”
“Always ensure required cultural change is appropriately aligned to desired business model and governance structure, and also prepare to adapt as required,” Hinrichs added.
With the development of China's economic strength, Chinese enterprises have kicked off overseas expansion on a large scale, but in the process often face various difficulties. This year’s CMIA aims to have an insightful discussion on developing a long-term strategic vision to improve Chongqing’s outward-bound investment service support system and to help Chinese enterprises go global.
During a separate meeting, Huang Qifan, Mayor of Chongqing mentioned that Ford’s joint venture, Changan Ford Mazda Automobile (CFMA) is the biggest tax payer in Chongqing and Ford’s commitment to continue to invest in Chongqing is very important for the city. Last month, CFMA broke ground for a third assembly plant in Chongqing, making it the company’s largest manufacturing operation outside southeast Michigan.