William G. Parrett, Global Chief Executive Officer, Deloitte Touche Tohmatsu, participated in a main programme session on opportunities and challenges in China: 

Is China a foreign investment goldmine or minefield?
More than two decades after China was opened to foreign investment, it now looms as the world's manufacturing hub as well as its biggest growth market.

Among some of the questions which the session aimed to answer were: Have global companies achieved the returns they expected from their investments in China? What unexpected opportunities still lie in China's economic ascension? What are the key stumbling blocks that must still be overcome to succeed in China?

Bill Parrett highlighted how building a robust and reliable business infrastructure is key to ensuring that China achieves its commercial promise -- the basis for which are, among others, accountability and corporate governance. He also addressed the significance businesses need to attach to the local specificities and resources: "We believe that it is critical to have a real understanding of the local community, the local economic system, the local environment. This is the key to our audit as well as our consulting work in the market. At Deloitte, for example, we are hiring and training local resources, combined with large human resources exchange programmes. We are applying the same principles as in other parts of the world in order to be an employer of choice in China."

An edited web cast (Running time: 11 minutes) of this session is available.

A detailed session summary is available.