跨国公司中国高管洞察：中国作为跨国公司全球战略与商业模式重塑的关键要素

China as a Key Element for MNCs GlobalStrategy and Business Model Reinvention Table of contents Redefining strategic priorities in ChinaThe core position of the Chinese market in global strategyExecutive summary02Preface04105Divergent trends in strategic adjustments at global headquarters2OverviewDefining the global role of China-based operationsAccelerating local business reinventionKey focus areas of local business reinventionKey drivers of local business reinventionHarnessing China’s global influenceThe global spillover effect of China-led experienceConstraints on global influenceParticipation of China-based leadership in global strategyThe challenge of building global influenceEvaluating the global impact of local strategiesFuture investment prioritiesStrategic investment directions for the next two yearsThe strategic rationale behind investment decisionsThe strategic transition fromLocalisationtoGlobalisationHighlights from MNC executive discussionsClosing remarks356Contact Us409131622263132 Executive summary In January 2026, PwC China held its annual MNC senior executives conference in Shanghai, bringingtogether over 100 industry leaders. Through on-site surveys and interviews, these executives shared theirviews on “China as a Key Element for MNCs Global Strategy and Business Model Reinvention”. The studyand analysis on results of on-site survey and interview results reveals that MNCs are recalibrating their globalstrategic coordinates, with a broad consensus emerging around China's core position as the world's second-largest economy. The strategic importance of the Chinese market remains unambiguous. 21% of MNCs consider China as theirsingle most important market globally, while a further 47% place it among their top three. However, the pasttwo years have witnessed a notable divergence in strategic approaches: 40% of companies maintained theirChina strategy unchanged, 22% have upgraded their China strategy, 19% partially upgraded, while 19%have scaled back. This underscores the complexity and diversity of strategic adjustments taking place,suggesting that the overall landscape is settling into a new, dynamic equilibrium. Further analysis indicates that MNCs in China are undergoing a profound and comprehensive local businessreinvention. This is a systemic transformation aimed at reshaping how they create value, go to market andgenerate profit.Key areas of this transformation are as follows: •“Cost and pricing adjustments (56%)” emerge as the most prevalent area of change. This directlyreflects how MNCs are proactively adapting to the dual pressures of fierce local competition and risingcosts.•“Digital and data capability upgrade” (39%) and “product or service portfolio adjustment” (34%) followclosely. These priorities demonstrate a deep-seated response of MNCs to the rapid development ofChina's digital economy and the diversified needs of local consumers.•“Market competition pressure” (77%) and “profitability and cost pressure” (68%) are the primary catalystsdriving reinvention. Local players, leveraging agile mechanisms and rapid iteration capabilities, continueto reshape the competitive landscape.•An accelerated shift in customerbehaviourtowardspersonalisationanddigitalisationexperiences (35%)and an evolving regulatory framework (31%) have created “adaptive pressure” compelling deeperlocalisationof MNCs. The local business reinvention of MNCs in China is generating a significant global spillover effect,signallingapivotal transition in China’s role from an “executor” to a “leader”.The survey results indicate that: •30% of MNCs have selectively applied successful practices from their China operations to other regions,creating cross-market synergies through “China-to-global” knowledge transfer. 10% of MNCs havesuccessfully scaled innovative solutions developed in China to their global markets. •Despite this progress, the ability to exert global influence faces multiple constraints. The single largestobstacle, cited by 73% of respondents, is “headquarters and global cultural barriers ororganisationalresistances”. This points to the deep-seated cultural conflicts and coordination challenges within MNCs.Other significant barriers include global corporate governance and decision rights (55%), risk andcompliance constraints (41%) and the lack of China leadership representation globally (39%). These obstacles reflect the dual challenge of overcoming structural rigidity and cultural divides whenintegrating China-led innovations into the global corporate framework. It is, however, worth noting that theparticipation of China-based leadership in global strategy is on the rise, injecting new vitality into the globalgovernance of MNCs.Data from the survey suggest that: •China executives are deeply involved in strategic and long-term direction decisions (59%) and wieldsignificant influence in areas like risk compliance and governance (49%) and product or service portfoliodecisions (47%). •However, desp