China remains important market for multinational companies: report

BEIJING, Jan. 10 (Xinhua) -- China remains an important market for multinational corporations (MNCs) this year as executives eye opportunities from a rebound in consumption, reported South China Morning Post on Monday.

China made up about 15 percent of global revenue for 200 of the biggest MNCs from Japan, Europe and the United States in 2022, said the Hong Kong-based English-language daily, citing data from the global management consulting firm Bain & Company.

"It is important to take a longer term view on China instead of focusing on short-term volatilities," Bain & Company's Shanghai partner Bruno Lannes was quoted as saying. "China's economy will continue to grow and represent an increasing share of global revenues for MNCs doing business here."

"More business leaders are talking about the need to defend their China operations, and this is not only because of the significance of China as an end market for their products and services, but also because of its importance as a key node of their global supply chains thanks to its highly cost-efficient industrial ecosystem," said Alfredo Montufar-Helu, head of the China Center for Economics and Business at The Conference Board, a global non-profit think tank.

"The bottom line is, China still matters a great deal to MNCs, and companies equipped with adequate preparation, renewed knowledge, objective risk assessment, and sound competitive strategies can seize the rich opportunities the China market has to offer," said Lannes.