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Brazilian Companies in China: Presence and Experience

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Brazilian Companies in China: Presence and Experience Brazilian Companies in China: Presence and Experience ORGANIZER: SPONSORS JUNE / 2012 Brazilian Companies in China: Presence and Experience 1 PRESIDENT OF THE CHINA-BRAZIL WE ARE GRATEFUL FOR THE BUSINESS COUNCIL COLLABORATION OF: Ambassador Sergio Amaral Admilson Monteiro Garcia, Executive Director of the Banco do Brasil Alexandre Yambanis, Director of the Cellulose Business Unit of AUTHORS Suzano Alfredo de Goeye, President of Sertrading Claudio Frischtak, CBBC Consultant Antonio Freitas, Diplomat from the Brazilian Embassy in China André Soares, Coordinator of CBBC Research and Analysis Clodoaldo Hugueney, Brazilian Ambassador to China Fabiana D´Atri,Senior Economist for the Department of Economic GENERAL COORDINATOR Research and Studies of Banco Bradesco Fernanda Peres Arraes, Executive Business Manager for Financial Julia Dias Leite, CBBC Executive Secretary Institutions and International Clients of the Banco do Brasil Frederico Fleury Curado, President and CEO of Embraer INSTITUTIONAL COORDINATOR Gustavo Rocha de Menezes, Chief Counsel of the China and Luciana Gama Muniz, Institutional Coordinator Mongolia Division of the Ministry of Foreign Relations José Augusto Coelho Fernandes, Director of Policies and Strategy of the National Industry Confederation TECHNICAL TEAM Lainor Driessen, Vice President, Operations, Management and Amanda Rangel Sustainability of EMBRACO Carla Duarte Dani Nedal Luiz Mameri, President of International Business of Odebrecht Édison Renato da Silva Lydia Boabaid Rêgo, Divisional Manager, Integration of Giselle Vasconcellos International Communication and Marketing Actions of the Banco Karen Grimmer do Brasil Tania O’Conor Marcelo Castilho, General Manager of the China Office of Petrobras Thaís Segall Marcos Lélis, Coordinator of the Trade and Competitive Intelligence Unit of Apex Roberto Dias, Director of Institutional Relations of Odebrecht Roberto Milani, Vice President of Comexport Rodrigo do Val Ferreira, Chief Representative of Felsberg in Shanghai Rubens de La Rosa, CEO of Marcopolo Sérgio Edegar Girardi Quadros, Representative of the Banco do Brasil in Shanghai Siegfried Kreutzfeld, Director-Superintendent of WEG Motors OFFICIAL SPONSOR OF THE STUDY: Tatiana Rosito, Minister-Council of the Brazilian Embassy in China Thomas Felsberg, Founding Partner of Felsberg e Associados ABOUT THE CBBC STUDY This publication is the second of a series of studies by the China-Brazil Business Council regarding issues relevant to Sino-Brazilian economic relations. The purpose is to furnish up-to-date information and analyses that can serve as elements for formulating policies and strategies by companies and government agencies. In doing so, the CBBC hopes, to contribute to a closer relationship between the business communities of the two nations, as well as to indicate directions and trends that could later be studied in greater detail by research institutes and think tanks. Brazilian Companies in China: Presence and Experience 2 INTRODUCTION Last year, after concluding the study on Chinese investments in Brazil, coordinated by Professor Barros de Castro, the China-Brazil Business Council now presents the results of its study regarding the presence of Brazilian companies in China, led by CBBC consultant Claudio Frischtak, supported by the Council’s research team. There is a significant difference between these two studies. With the rapid growth of the past several years, the stock of Chinese investments in Brazil has risen to around 20 billion dollars, while Brazilian investments in China remain stationary at around 500 million dollars. It is true that the number of Brazilian companies in China (57) has grown significantly. They are concentrated in the services sector and are quite diversified. There are also examples of successful companies from the industrial sector that focus on the internal market. On the other hand, Chinese companies in Brazil are distributed throughout various sectors. At first, investments were predominantly made in commodities and energy. Then, in infrastructure and, now, increasingly in products destined for the internal market, such as automobiles. The CBBC study interviewed a significant number of companies. It showed the diverse nature of their experiences and results. While some of the companies owe their success to partnering with local Chinese companies or governments, others succeeded due to their own technological advantages. In some cases, the training of a local labor force was the crucial element. This group of case studies is opportune and relevant. Gaining greater knowledge of the Chinese market is one of the necessary conditions for formulating successful policies and adding value to exports. The presence of Brazilian companies in China is essential for identifying niches for Brazilian exports and investments. Regional integration in Asia is occurring at an increasingly accelerated pace. More than 50% of East Asian exports are intra-regional. Reciprocal investments have been significant, leading to a growing integration among the production chains in the region. When that integration process is consolidated, it will be even harder for other countries to export manufactured products to China and the rest of the region. The Council hopes that this group of experiences, information and suggestions contributes to greater integration of the efforts of companies and the government, and to fostering a larger Brazilian presence in China. Ambassador Sergio Amaral President China-Brazil Business Council Brazilian Companies in China: Presence and Experience 3 MESSAGE FROM THE BANCO DO BRASIL With support from the Banco do Brasil, the China-Brazil Business Council developed this study, based on extensive research that seeks to furnish information that will serve as an important source for those who want to be more involved in the Chinese market, by providing a detailed survey of the distribution of Brazilian investments in China. This is a complete set of materials, in which it is possible to identify opportunities and challenges for Brazilian companies that operate, or wish to set up, in China and, for that reason, it is in perfect harmony with the strategic actions adopted by the Banco do Brasil in its foreign presence. The international expansion strategy of the BB is founded on three aspects: the presence of Brazilian communities abroad, the internationalization of Brazilian companies, and Brazil’s trade relations. And it is precisely the last two that make our sponsorship very natural for this important study, As a pioneering institution, the Banco do Brasil began a movement in pursuing of space beyond our borders, at a time when few Brazilian companies, including those from the financial sector, had this strategy in mind. In November 2011, we completed 70 years of international presence, when we celebrated the anniversary of the opening of our first foreign branch, in Asunción, Paraguay. The BB is the largest financial institution in Latin America and now is present in 24 countries, with a foreign network formed by more than 40 points of dependence. And, with an attentive eye on the international economic movements and scenarios that have shaped a new mapa mundi, where emerging countries challenge the traditional leadership of other nations, the Banco do Brasil launches itself into the task of gaining global positioning. To that end, we acquired the Banco Patagonia, in Argentina, and the Eurobank, in the North American market. Currently, we are planning other acquisitions. Historically, the BB has supported exporters and importers with credit lines and an extensive portfolio of solutions that are responsible for keeping us at the forefront of the Brazilian foreign exchange and trade market. And if the Nation has gradually been increasing its participation in world exports—from 1.36%, in 2010, to 1.44%, last year, according to a report released by the World Trade Organization (WTO)—we dare to state that the BB played a fundamental role for that to be made possible. Brazil’s balance of trade has also gained new configurations. The most obvious example of this phenomenon occurred at the beginning of 2009, when China, after 80 years of leadership of the United States (U.S.), began to be our Nation’s main trade partner. In 2011, Brazilian exports to the Chinese reached a record volume of US$ 44.3 billion, which is an increase of 43.9% over the total for 2010. In current figures, China receives at around 17% of Brazil’s exports and the U.S., 10%. Brazilian Companies in China: Presence and Experience 4 This is a reality that absolutely no financial institution that traditionally supports national companies in their worldwide business dealings can ignore. The Banco do Brasil went to China to better capitalize on the trade flow between the two nations. Actually, this initiative occurred way before the classes in the Mandarin language began to be held in Brazil’s corporate establishments. We planted our flag in Chinese territory in the mid-1980s. After initially setting up in Beijing, our business office migrated to Shanghai, and it has functioned there, since 2004. Today, the Beijing branch has become the most profitable office outside Brazil. The BB brand is also present in Hong Kong, where Brazilians have another business office available to them. The next step in the strategy of being involved in the country consists of opening our first branch, and the process is well underway. This is an upgrade that we will give to the BB’s activities in Shanghai, by transforming the
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