Prof J C Yang
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Review of Huan Xin Ping Heng Biao Shang De Shui Shi - Guo Ji Xin Yong Guan Li Shi Yong Zhi Nan
(
Awaken the Sleeping Lion on the Balance Sheet - an Executive Summary for Global Credit Management)
ISBN: 978-988-99586-1-9

Why have the authors decided to publish Global Credit Management in Chinese? 
There are two major reasons:

Firstly;  Chinese firms are currently suffering badly from a credit management crisis, not only in international trade, but also in domestic transactions.  In 2004 Chinese firms accumulated bad debt up to a value of US$100 billion, which is about 20% of the estimated total trade profit.  Moreover the bad debt total is growing by an additional $15 billion per annum.  The crisis is equally severe in domestic transactions. The average delay in payment is 90 days; while it is 7 days in the USA.  The average bad debt rate in Chinese firms is 5% to 10%; while it is 0.25% to 0.5% of sales revenue in the US.

Secondly;  Finding a way to train and educate Chinese firms to manage credit is extremely important for the health of the Chinese economy.

The most important strength of this book is that it has been written from a practitioner’s perspective.  It covers almost all aspects of the complete practical process of credit management.  It starts from the strategic height of credit management, systematically presents how to manage customer risk, country risk, and goes on to explain the actual credit management tools and their respective strengths and weaknesses.  It reads very clearly and the style is refreshing.  It provides a useful guide for professional managers new in the field, and is an inspirational book for those really experienced.

I believe this book will be extremely useful and helpful for Chinese firms and managers as they strive to learn about international practices and standards in credit management, and improve their competitiveness.  I would like to recommend this book to numerous readers in China.  I hope you all enjoy and benefit from this book.

Prof. Jun Chang Yang MBA – Professor of Managerial Economics
Shanghai University of Finance and Economics

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