“Everything is possible in China,” said Chester Yang, Bunge China CEO. “But nothing is easy.” Bunge is a leading global agribusiness and food company.

Yang and his colleagues Cynthia Su, Human Resources Director and Kenneth Chen, Agribusiness Director, shared insights with EMBA 43 during our class sessions at Fudan University about opportunities and challenges faced by the multinational company in China. Bunge executives Dilip Nakasi and Jason Corman are members of EMBA class 43.

Bunge executives present insights about operating a multinational company in China.

Starting with a brief overview of China’s 2,000 year history and the country’s relative GDP and population over time, Yang described how he has achieved twenty years of successful multinational management here. In addition to having the right attitudes about living with ambiguity, sensitivity to geo-political policies, competitiveness, and curiosity (rather than judgement), it is imperative that you be patient.  “Three years is not enough to create the relationships you need to succeed. It will take at least ten.”

Although Bunge had an office in China as early as 1998, they didn’t begin a long-term investment in China until 2005 when they began exporting soybeans to China. Bunge’s footprint in China is growing.

Keeping the lines of communication with the government open is critical, Yang said. “I communicate more with the government than I do with my boss. No one likes surprises. Not your boss, and not the Chinese government.”

Product images from Bunge website. “At present, the major products of Bunge’s subsidiaries in China are soybean oil, branded bottle oil “Douweijia” and feedstuff soybean meal with a protein content of 43%, 46% and 48% respectively, soybean lecithin, etc.”