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The new China:Rochester's new frontier Raising the stakes in an ancient land Twenty years ago, he was an engineer in a state-owned film factory. Today, Yu Zhu Mao runs a Shanghai warehouse that keeps 400 stores stocked with Kodak film and cameras. He grosses $1 million a year, travels the globe, dines with top executives and diplomats -- and is ready to take on the world. Next year, Yu says without a trace of doubt, he'll sell more film in this city of 16 million people than is sold in all of New York City. No mean feat, given that only 15 percent of China's households own a camera. ''Well, why not?'' Yu says, flashing a million-dollar grin. FULL STORY...
Kodak's investment in China
He has a broad, boyish smile, goes by ''Dave'' around the office and likes to share personal stories even while talking about business. But don't misread David L. Swift's friendly nature as a sign he is a pushover. Eastman Kodak Co.'s senior executive in China says he is plenty aggressive when it comes to winning.
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A market of 1.2 billion customers
Zhu Yongde knows why the movie-making business at his Shanghai Film Studio is struggling, but don't expect to find him cursing his luck.
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Every time a customer requests a copy of an old transaction, the Industrial and Commercial Bank of China has to locate the customer in an index, then dispatch two employees to one of four giant warehouses to unearth the bound volume. Each warehouse is four stories tall and contains six million transaction books; each book has 600 to 800 individual transactions.
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China's largest news organization made a daring business decision on June 30, 1997, the day China began reclaiming its sovereignty over Hong Kong.
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Rochester's other major players
Rochester's eye care giant was farsighted in spotting potential in a huge and nearsighted nation: More than half of China's 1.2 billion people are myopic, compared with 25 percent of westerners. In 1987, Bausch & Lomb Inc. became one of the first U.S. companies to establish a presence in China.
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More coverage
Over seven decades and across two continents, Yu Zhu Mao and his relatives have gotten more than just good pictures from Kodak. They have gotten a way of life.
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China is the world's oldest continuous civilization, but that 4,500-year-old heritage hasn't kept the country from morphing into the globe's most fertile and powerful market for new technologies.
FULL STORY...
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