Questions - China - Can a Public-private Transit Venture Succeed in?
Workin' on the RailroadUSA -Wharton School/University of Pennsylvania - 17 Nov 2005: -- Two businessmen from Philadelphia, Pa., have launched a bold project to develop and run a mass transit system with the local Chinese government in Fuzhou, a city of approximately 1.5 million on the southeastern coast of China. If successful, it would be the first public-private railway system in China, according to Louis Thompson, former railways advisor for the World Bank and principal of Thompson, Galenson and Associates consulting firm... "It would be very adventurous for any U.S. company, much less a small one, to get into this market," says Marshall W. Meyer, a Wharton management professor. "The companies that have been successful in China are ones with long and deep experience there -- for example, Citigroup and Coca-Cola. They have proceeded cautiously and built relationships over years.".. Katz and Lane readily admit that they have a number of issues to work out. "We know what we know and what we don't know," says Lane. The pair plans to take on more partners as they proceed, including local Chinese developers who better understand the rules of the game in Fuzhou. Says Katz: "We're brand new fish in a very big sea."...
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