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When China embarked on market economy in the early 1980s, it found itself
totally unprepared. There were no theories, no experience, no infrastructure,
and no trained professionals for this new economic system. However, Chinese
business people "plunged into the sea" of market economy with
courage. Many went down in the tides; others made it through with their
tenacity and intelligence, subsequently becoming leaders of the new Chinese
economy. Breaking Grounds records the experience of a Chinese business
woman Bingxin Hu, who pioneered and succeeded in modernizing the aging
Chinese retail business.
Based on her ten years of business experience, the author recounts the
turmoil, clashes of concepts and behind-the-scene decisions in the Chinese
retail business, as well as psychological shocks, emotional perplexes,
and intellectual apprehension she had gone through. Breaking Grounds reveals
how, in a series of ground-breaking moves, Bingxin Hu redefined Chinese
retail, integrated Western management with the Chinese tradition and culture,
and developed a unique and effective model which was copied later on by
many other retailers. As one of her climaxing successes, the Wuhan Plaza,
a large scale shopping center under her management, ranked number one
in revenue and profitability in China's retail for two years in a run.
The Chinese version of this book was an instant hit. Hu's first-hand
description of her endeavor has benefited many Chinese retailers. A valuable
case study on Chinese retail business and its management, Breaking Grounds
also serves as a guide on Chinese market operation and investment strategies
for Western business people who have invested or are thinking of investing
in China.
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