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BIZCHINA> Center
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Macquarie capitalizing on growth
(China Daily)
Updated: 2008-08-07 11:16 While many companies scramble in search of profit in still-booming China, only a few wise ones know that success in the country takes both patience and prudence. Companies who came in early and expanded wisely are the ones now benefiting the most from the Chinese economic phenomenon. Sydney-based Macquarie Group, a global provider of specialized financial services, is one such company. Taking a long-term view, Macquarie continues its expansion plans in China, where it opened operations in 1995. "We are very excited about China. We know there is a skilled workforce in China when it comes to banking and finance. It is our goal to employ the very best people to grow our businesses in a well planned and thoughtful way," said CEO and Managing Director Nicholas Moore. As Macquarie's operations in China grow, it differentiates itself by putting its clients first and focusing on innovation. Today, it has more than 1,000 employees in China and this number looks set to rise. Macquarie is synonymous with infrastructure in China, where the company has facilitated external funding for the largest infrastructure projects in the country. In Beijing and Shanghai, it invested in the technology sector, taking minority stakes in educational services, the travel industry and a whole range of different telecommunications, media, entertainment and intellectual companies. Its leasing division - focused on asset categories such as jet engines, jet aircrafts, rail assets and computer equipment - has grown robustly both in Australia and in China. It has assumed ownership of some assets that companies are unable or unwilling to purchase for themselves. One area of focus for Macquarie at the beginning of its expansion in China was residential property development. It has since expanded into sourcing, acquiring and managing commercial real estate. It set up one of the first core retail property and wholesale property funds for China, investing in nine shopping malls in nine different cities across China. Macquarie is also studying merger and acquisition opportunities for Chinese companies interested in expanding at home and abroad. The leading financial services company is focused on introducing Chinese companies to the world using capital markets. Its most recent success was the listing of China Rail Construction Corp in Hong Kong and the Chinese mainland. (For more biz stories, please visit Industries)
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