Ways to address challenges for industrial goods manufacturers amid turbulence in China market

June 2023

Geo-political and other macro factors continue to evolve and may affect China business of multinational companies (MNCs). On the other hand, China is still the world's largest manufacturing base with tremendous growth potential. Under the turbulent market environment, MNCs need to balance challenges and opportunities for their China operation and take necessary measures to underpin the sustainable business development.

PwC Strategy& advise MNCs to carry out a set of initiatives, among which localisation of product development and manufacturing is essential to address majority of the challenges. A framework to assess related challenges and work out plans to address the challenges response would facilitate companies to navigate its operation and achieve sustainable development in China. Meanwhile, smart factory transformation and manufacturing footprint optimisation would further improve operational efficiency. MNCs also need to strengthen some key enablers to realise these initiatives, such as eco-system partnership, streamlining decision-making processes, and local operational capability enhancement.

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Ting Zhao

Partner, Strategy& China

Leon Pu

Director, Strategy& China

June 2023

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