Opening-up continues to pay big dividends

Foreign companies once used to send their managers, sales experts and engineers, along with product samples, to big Chinese cities such as Beijing, Guangzhou and Shanghai to set up representative offices and test the viability of the Chinese market.

- ZHONG NAN and WANG KEJU

This was particularly so during the 1980s, and by the 1990s many of these companies began building factories in China, their number surging after the country joined the World Trade Organization in 2001.

With products made in China being supplied to both domestic and international markets, foreign companies such as Schneider Electric of France and Bosch Group of Germany increasingly appointed Chinese executives to head their operations in the country. This move was part of broader localization efforts that included setting up research and development centers in China.

As the People's Republic of China celebrates the 75th anniversary of its founding this year, senior executives of multinational companies say the country's recent economic reforms are poised to bolster the global supply chain network and deepen the integration of foreign investment with the country's economic growth.

For global firms that produce and distribute countless products and services, China has evolved into a place for promoting growth and innovation.

Anna An, president for the China unit of Henkel AG & Co, a German industrial and consumer goods manufacturer, said that since entering China more than 50 years ago her company has grown with the country, continuing to invest so as to promote talent and industry growth.