The Long Flight Home

Sunday morning was our final opportunity to see Shanghai, so many of us dispersed into different parts of the city. Many returned to Old Town to bargain for souvenirs, while others traveled to other bargain markets and shops. Afterward, we boarded the bus and went to the Pudong Airport, beginning our long trip home. The flight lasted nearly 14 hours and there was a considerable amount of turbulence. However, we finally arrived in Indianapolis around 10:15pm, whereupon we made arrangement to get back to Bloomington.

The Final Full Day in China

The last day in China was a day filled with cultural experiences. We took a bus to Old Town, where we ventured into the Yu Garden. This was surreal experience, seeing the old Chinese architecture and the beautiful gardens and ponds of the Yu Garden. Afterwards, we wandered around Old Town which was filled with little shops selling souvenirs. Bartering almost seems to be a national pasttime.

Leaving Old Town, we attended a traditional Chinese Acrobat show. Originally, many of us thought this would be a rather sad showing, but as the curtain openned, we found that we were completely wrong. The show held our attention the entire time and was filled with stunts and tricks that seemed beyond comprehension.

Investing, Accounting, and the Chinese Market

Waking up on Friday, we headed to FountainVest Partners, a private equity firm that works within China. Due to the regulations in place with regard to the public Chinese companies, many companies find it easier to simply invest in smaller, private corporations. FountainVest's primary investors are from Canada and the United States. It was an interesting experience for those interested in pursuing a career in the private equity field.




Later, we ventured over to Ernst & Young, one of the Big Four accounting firms. The presenter was incredibly insightful and answered many students' questions. It was interesting to hear her discuss why she prefers American employees to Chinese employees. She said that Chinese students can retain any kind of information placed before them, but unlike their American counterparts, they will never ask questions or correct their superiors when necessary. This apparently had caused her considerable trouble in the past.




That night, we had dinner with Mr. Simon Goe, a famous Kelley alum living in Beijing. The experience was unusual being that it was difficult to understand Mr. Goe's English, but it was nevertheless an insightful discussion, allowing us to view China through the eyes of one of its famous businessmen.

A Day of Company Visits

Thursday was packed full of various company visits. However, we first visited the Shanghai Stock Exchange which was slightly disappointing. We had expected the thrill of the New York Stock Exchange with all the brokers on the floor, but to our surprise, the Shanghai Stock Exchange is completely automated so that the floor is simply a formality for tourists. It only sees use when new companies are added to the Exchange. We learned that for many large private and public Chinese companies, it's incredibly difficult for foreigners to invest.




After the Stock Exchange, we headed for Chinese Pod, but due to traffic and road construction, we were unable to attend. Instead, we ventured early to Nielsen where we listened to an insightful discussion regarding market research in China. It was interesting just to think about how Nielsen could collect data and the margin of error they must be dealing with in the Chinese market.

Our Return to Shanghai

On Wednesday, we awoke early to travel the three hour drive back to Shanghai where we stayed in the Charms Hotel near Nanjing Road. Before we checked into our hotel, we toured the Bund, the part of Shanghai that is heavily influenced by the West and primarily American and English colonialists. There is also a French Session within Shanghai that goes back to the city's colonial heritage. Since our business meeting with A.C. Nielsen was moved to Friday, we had the rest of the day off and were allowed to wander the city.

A Day Devoted to Beverages

Tuesday was out final full day in Hangzhou and we again met with our friends from Zhejiang University to view the Wahaha Beverage Company factory which commands a 20% market share of the bottled beverage industry in China. They produce a wide variety of drinks from teas to milk-infused drinks. This was a great opportunity to see the production line and made all our internal accounting classes seem justified.



Earlier in the day, we had visited the Hangzhou Tea Museum which was also surrounded by tea fields. The views were astounding and seemed to come straight out of a painting. The greenery was so vivid and the tea could be smelt if one wandered into the tea fields behind the museum.

A Trip to the Wensli Silk Factory

On the second day in Hangzhou, several of us awoke at 5:30am to walk around West Lake. We ended up climbing a nearby hill upon which were situated many houses and one large temple. Hangzhou is considered the happiest city in China and this was quite apparent walking the streets and paths in the morning where one could find large groups of people engaged in either Tai Chi or Waltz-like dancing. The people of the city, even in their old age, are quite active and one gets a great sense of the contrast between Western individualism and Eastern communality.




Later, we had another lecture with the students from Zhejiang University about project management. One culture difference that was apparent was that students in China talk quite loudly while their professors are speaking, which seemed quite distracting. I learned later that the students had also already had the same lectures before, so they might have been simply uninterested. Anyways, after the discussion, we ate in the university cafeteria and then headed for the Wensli Silk Factory where we got to see how they produce and manufacture silk products such as ties and pajamas. We even had our group picture printed out on silk with the help of computer technology.




Finally at the end of the day, many of us ate dinner at a local Hot Pot. The students again helped with the ordering process, but food was eaten more in a buffet style. There was a pot in front of everyone that was filled with boiling broth within which you could cook your food. A conveyor belt alongside the table provided a wide selections of food.