BEIJING, Jan. 10 (Xinhua) -- The South China Morning Post recently reported that despite the challenges faced by multinational companies in China such as geopolitical risks and fierce competition from local companies, these companies are still very optimistic about the opportunities brought about by the rebound in Chinese consumption, and China is still an important market for multinational companies.
On January 8, in the production workshop of a garment processing enterprise in Zaolin Village, Baishu Township, Ruyang County, Luoyang City, Henan Province, employees were rushing to make children's clothing. Xinhua News Agency, photo by Kang Hongjun The report quoted data from Bain & Company as saying that in 2022, the Chinese market accounted for about 15% of the revenue of the world's top 200 multinational companies. For companies such as Tesla, Mercedes-Benz and Shiseido, the Chinese market accounts for a higher share of revenue, between 22% and 37%. Bain & Company believes that China will remain the largest market for industries such as food and beverages, automobiles, textiles and apparel, chemicals and chemical products, steel and consumer electronics.
Bruno Lana, a partner at Bain & Company in Shanghai, said that to take a longer-term view of China, "China's economy will continue to grow, and the proportion of Chinese market revenue in the global revenue of multinational companies will continue to grow." He said that in order to seize the vast opportunities offered by the Chinese market, multinational companies need to be well prepared, continuously update their knowledge, objectively assess risks and implement a robust competitive strategy.
On January 10, in the Huanghai Shipbuilding Dock in Shidao Management Area, Rongcheng City, Shandong Province, workers hurried to build all kinds of large ships (UAVs**) At present, the company holds orders for more than 70 high value-added ships, and all slipways continue to maintain full production, and the proportion of exports is close to 70% of the total output. Alfredo Montufal-Elu, director of the China Economic and Business Center of the American think tank World Large Enterprise Research Institute, believes that China is still attractive to foreign companies, "China is not only an important end market for enterprise products and services, but also has an efficient industrial ecosystem and plays an important role in the global ** chain." He said that most multinational companies operating in China are committed to continuing to expand into the Chinese market.
Yang Jing, director of Fitch China Enterprise Research, an international rating agency, said that it is expected that more Chinese and foreign automakers and leading companies will carry out various forms of cooperation in 2024, including production outsourcing, technology licensing, and the establishment of joint ventures.