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Our perspective on China has been unusual.
We are
a commercial enterprise and, of course, have had commercial
dealings with China, first with the People's Daily and the
China Daily, and now with Market Publishing Company. But in some matters, we have had direct dealings with senior members of your government. Further, where our activities
in China touch those of our own government, we work
Our interest in publishing
together with its agencies.
and the media has led to contact in the fields of propaganda
and culture and education.
Our activities have ranged from commercial contracts
to the transfer of technology and knowhow, technical training and exchanges of senior editorial staff, in some
cases for periods of several months. We have learnt much
from this exchange because it has been first-hand experience.
However, we have also learnt at one step removed. Through our other interests in publishing and the media in Australia, Hong Kong and Southeast Asia, we talk to many people who are discussing cooperation with China in a variety of fields. This has provided the opportunity to see how others view their relationship with the People's
Republic of China.
Thus, after five years of the Open Door policy, I have an observation to make on foreigners' experience in China,
based on our own, and others', findings.
I am aware that an enormous number of foreign companies
have visited China. Discussions have been held, agreements
in principle reached and letters of intent signed. But the time taken to complete any one of these procedures, let along to bring a project to fruition, is inordinately long. In the case of investment by joint equity venture, the number actually approved relative to the number discussed is tiny.
The object of/...
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