Low costs and a huge market used to be the main draws for overseas firms to China after its entry to the WTO more than 20 years ago. Nowadays the reasons these companies stay are more diverse. In addition to Apple and Tesla’s strong hold on the Chinese market despite trade frictions with the US, conglomerates including J.P. Morgan Chase, American International Assurance, IBM and Walmart have renewed their localized strategies to empower their Chinese divisions with more independence. Smaller brands tap into niche markets through growing interactions with customers, while German auto parts maker Bosch unprecedentedly set up a financial institution in China to connect the county’s automotive startups with overseas producers with independent investment decision-making. Amid the downsizing of domestic internet companies, a cordial environment and flexible management systems have once again convinced a growing number of fresh graduates to join the legion of overseas firms.
Old Version
