Another packed day of visits to 3M, Langham Hotel and the US Consulate. At 3M we were greeted and presented by Wayne Xue, Director of Corporate Strategy and Communications. He talked about the presence and operations of 3M in China and how much business 3M does in for the domestic market of China. It was surprising to know how diverse and huge the operations 3M has in China. They have a big research and development facility that has about seven hundred and fifty employees. The facility feeds their worldwide operations. 3M has forecasted to acquire 70% of the Chinese market in the next five years based on the amount of projected industrial development needs of this country.
After lunch we stopped at the US Consulate and were met by the team of officers Tom Cooney from Public Affairs, Evan Felsing in Economics and Ki Tin in Commerce. It was an informative session. We were given the opportunity to hear about the economic structure of China, how it developed, the role of the government in the economy and what American businessmen should think of before moving their operations to China. We talked a lot about the issue of Intellectual Property theft and how can it be minimized by an American corporation. The team informed us that the Chinese economy is heading towards becoming a service economy as other developed nations economies are. They also touched based on the growing middle class in China and what problems they are facing.
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US Consulate In Shanghai
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Our last stop today was a visit to Langham Hotel in the Xintiandi area. It was an impressive luxury hotel that is being built in the heart of the Xintiandi area. The hotel rooms were fully equipped with the latest gadgets. The hotel will be marketing their rooms in the range of four hundred to six hundred dollars per night to business travelers. The management at the hotel treated us to a luxurious buffet dinner at the end of the tour.
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| Langham Hotel |
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| Open Bar At Langham Hotel |
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