Maria Karp: Changing Expectations from Chinese Executives in the BANI Era

Technological breakthroughs, policy shifts, and sectoral advancements continuously influence organizations in today’s dynamic business climate. This evolving landscape presents C-suite leaders with the formidable task of anticipating change and crafting visionary strategies to propel growth.

On Oct 26th, Page Executive hosted an exclusive webinar featuring Anthony Thompson, CEO of Page Executive, along with our esteemed panel of executive recruitment specialists. This session was dedicated to unveiling the most current industry trends and providing critical insights across various sectors.

Our objective is to furnish contemporary leaders with transformative outlooks that foster innovative and strategic thinking, guiding their organizations and personal career paths toward new frontiers. Below, we present key takeaways from Maria Karp, Partner at Page Executive.

Maria spoke about the tremendous shifts in China’s economy and Healthcare and Life Sciences (HLS) market, and the changing expectations from Chinese executives.

According to AmCham Shanghai 2023 China Business Report, company headquarters continue to redirect investment to prioritise other markets as a top destination for investment.

Only 17% of companies ranked China as their headquarters’ No.1 investment destination, down marginally from 27% in 2021. But there are some highlights in the HLS industry: 58% of HLS companies expect revenue increases after zero COVID restrictions were lifted, and among other industries, HLS players were at the top (65%), starting to add headcount.

What insights do these data tell us about executive-level hiring in the HLS industry in China? Maria shared that in the last 15 years, competing in the market was enough to succeed. But in the new BANI environment, it’s about creating real value and room for growth, standing out from the competition, and adopting more complex and sophisticated execution strategies. It means the need and demand for top talent is greater than ever.

Maria explained that revenue expectations from China's business have shifted to moderate for the next two to three years. As a result, the ability of executives to formulate long-term strategies and execute robust channel planning is of paramount importance, followed by enhancing business operational capabilities.

Meanwhile, Chinese leaders for multinational corporations (MNCs) are expected to develop and present the ‘New China Story’ to their business headquarters to justify continuous investment into China’s business operations.

Please click here to watch the webinar recording. 

If you are interested to read more career advice, please click here.

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