MNCs see China as innovation hub

Résumé détaillé

China is increasingly seen as a place where multinational companies develop technologies, cultivate innovation and build capabilities for global markets, marking a shift from its…

China is increasingly seen as a place where multinational companies develop technologies, cultivate innovation and build capabilities for global markets, marking a shift from its traditional role as simply a manufacturing base and consumer market, a senior KPMG executive said.

The transformation is prompting foreign businesses to rethink their China strategies, with greater emphasis on local research and development, partnerships with Chinese companies and investment in capabilities that can strengthen their global competitiveness, said Mark Harrison, partner and head of multinational clients at KPMG China.

"China's role in the eyes of multinational companies is moving beyond being an important consumer market and manufacturing base, and moving toward being an important innovation hub and platform for serving global markets," Harrison said in a recent exclusive interview with China Daily.

China's industrial ecosystem, which brings together R&D, suppliers, manufacturing and commercialization, enables companies to shorten development cycles and develop technologies at scale, he said. Its engineering talent, digital infrastructure and sophisticated supply chains also provide advantages for multinational companies seeking to strengthen their global competitiveness.

Citing KPMG's 2026 MNC China Outlook Report, Harrison said 62 percent of surveyed multinationals already consider China important to their global innovation strategies.

He cited electric vehicles, batteries, industrial automation and artificial intelligence as examples of how China has moved from primarily manufacturing and adapting technologies to becoming a source of innovation in its own right. Technologies and products developed in China could also potentially be deployed in other markets, particularly emerging economies, he said.

The transformation, however, has also changed the competitive landscape for foreign businesses.

For MNCs, relying on established international brands, technologies or business models…

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