Jun Hong is positioned as senior banker since 2007. Jun has extensive experience in corporate banking and credit risk management, covering the global relationship with German largecaps. In addition, Jun is considered as financing expert for German corporations in China. He acts currently as Executive Director and Head of the Chemicals at Citibank Europe Plc., Frankfurt.
He defended his Executive Doctorate of Business Administration (EDBA) in March 2025 on the theme “Selecting Financing Instruments in China – Perspectives for German Multinational Corporations,” under the supervision of Professor Marco Heimann, iaelyon School of Management.
Thesis Direction
Prof Heimann Marco
Thesis Title
Selecting financing instruments in China – Perspectives for German Multinational Corporations (MNCs)
Abstract
German multinational corporations (MNCs) have encountered persistent challenges in identifying optimal financing channels to support their investments in China. The Chinese market, while critical to the global strategies of many German MNCs, is characterized by specific regulatory standards, a lack of transparency, and a high level of complexity in compliance requirements. These challenges have been compounded by recent disruptions such as pandemic-related supply chain issues and heightened geopolitical tensions, making financing decisions even more intricate and strategic. As German MNCs navigate this evolving landscape, the urgency to redefine their financing strategies and adopt innovative, future-ready solutions has become paramount. However, academic research addressing the selection of financing instruments tailored to the Chinese market by German MNCs remains sparse, leaving practitioners with limited guidance in this critical area.
This DBA thesis addresses this significant research and practice gap by focusing on the key factors and decision-making processes that influence the financing strategies of German MNCs operating in China. Employing a qualitative methodology based on an inductive approach, the study analyzes data from six in-depth interviews with Senior financial decision-makers in corporations and investment banks and two comprehensive case studies involving DAX 30 companies drawing on the DBA candidate’s in-depth familiarity gained through previous professional engagements. The findings highlight a range of pivotal considerations that shape financing decisions, including regulatory compliance, geopolitical, currency, and credit risk management, cost of funding, reputational impacts, and the strategic importance of diversifying financing instruments.
Building on these insights, the research develops an original model of the financing decision process. This model not only elucidates the interplay between these critical factors but also provides a structured and actionable framework for practitioners to optimize their financing strategies in China. Unlike existing approaches, this model integrates both macro-environmental risks and firm-specific objectives, offering a holistic perspective that aligns strategic financing decisions with broader corporate goals.
This research makes several contributions. Academically, it fills a critical gap by addressing the underexplored area of financing strategies specific to German MNCs in China, laying the groundwork for further studies in this domain. Practically, it delivers a highly relevant tool for senior decision-makers to enhance the effectiveness and resilience of their financing strategies in one of the world’s most dynamic and challenging markets. This DBA thesis not only advances academic understanding but also directly supports practitioners in making informed, strategic, and impactful financing decisions.