SHKP Quarterly

policies for the bond market. “The regulatory authorities are promoting development of the onshore RMB bond market,” said Friedrich, “But Hong Kong companies are still on the learning curve on the mainland. The Group has done considerable research to build a solid foundation for diversifying our funding sources in the future.” Friedrich goes to the mainland often and part of his job is interacting with local banks and financial institutions. He says mainland creditors have different standards of assessing a company’s financial strength. They tend to focus on asset size and sales, but pay lesser attention to criteria like asset quality, financial positions and corporate governance that are essential to a comprehensive evaluation. He said: “We define corporate creditworthiness differently, so part of my work is explaining our financial policy to external parties and getting them to appreciate our healthy finances and credit quality.” Friedrich previously lived and worked in Shanghai for over ten years and he attributes the Group’s progress in the city to its similar market environment to Hong Kong. He went on to explain the different conditions in some other parts of the mainland: “In Beijing, both state-owned and private enterprises are keen to maintain a presence – after all it’s the capital – so competition is fierce. The challenge in Shenzhen is significant barriers to non-local companies entering the market.” The mainland’s vast size means that there are geographical disparities, therefore posing different challenges to investors. Friedrich think s Hong Kong companies can only capitalize on the opportunities offered by the vast Chinese market if they understand their own comparative advantages well. Defining the ethos of teamwork Every manager has a philosophy. Friedrich believes in knowing his team and putting people’s strengths to good use. Comparing young people on the mainland and in Hong Kong of fices, Friedrich think s the main difference is that Hong Kong colleagues show more respect for professionalism and procedure, while on the mainland they are more creative and efficient in execution, but not always playing by the rules. His verdict: “There are always pros and cons with different personalities, but the key to management is exerting just enough control, as too much can cramp initiative.” Friedrich believes that instead of trying to change how staff think, managers can do more about improving the work environment to facilitate job performance. He said: “We may not be able to change a person’s character, but we can work on the combination of collaborators and their skill sets, removing obstacles that impede performance and adjusting the way efficacy is assessed to enhance motivation. Communication is also vital – everyone has to know what the others think and needs to act in harmony for better performance.” Friedrich explains his understanding of teamwork with reference to the shape of the Chinese character for ‘integrate’ ( 合 ). He says: “The 'A' at the top is like a curve on a graph with the ends representing the initial positions of people working together. The ideal is when both parties are collaborating; moving closer towards each other during the process to finally reach the point of optimal performance. If one party dominates, the other will have compromised too much, such that the result is determined by how well the weaker or disadvantaged party performs. These are represented by the lower points along both sides of the 'A'. Mutual accommodation brings compromise to an optimum and is therefore at the heart of team spirit.” Running out of the box Friedrich loves to run in his spare time as a major change from the dense figures that fill his work. Running shoes are always part of his packing for business trips as he finds running a great way to let his brain unwind. He said: “I like jogging; ideally in the day when you can see how things change along the route. It gives your mind visual stimulation and nudges it. Over half of my solutions to work problems came to me when I was running.” Friedrich works to understand his team and has developed a keen sense for collaboration 龍甫鈞用心了解同事的特質，並對團隊精神有獨特見解 21