At Richina Pacific’s annual meeting held in Auckland on May 10, chairman John Walker outlined the future of the company as it seeks to utilise its “extraordinary asset base” and leverage its “China knowledge”.

Mr Walker told shareholders that sooner or later most international businesses will establish operations in China, saying that many will choose to do so through a “trustworthy partner” with an established China track record rather than attempt to penetrate the attractive but difficult China market by themselves. He said Richina Pacific, with its structures, experiences, local knowledge and western-based governance structure, could leverage an international partner’s proven business models, technical know how, brands and distribution. He said the company is uniquely positioned to successfully partner with global companies.

“The value proposition we offer is that we can make an international company work effectively and efficiently in the Chinese environment, while doing so profitably and with integrity,” commented.

Mr Walker said that the recent acquisition of the Shanghai Leather Company, which brought with it ownership control and interests in more than 50 former Chinese State-owned enterprises, and controlling rights over 43 parcels of land in Shanghai, had transformed Richina Pacific.

Today, the company operates in four sectors – finance, land, industries and services – and its role had changed to one of “linking China and the world”.

He said property and land development in China would become a “very significant” business for Richina Pacific.

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