|"Made in China", to some extent, has evolved to "Made with China", making multinational corporations share the "Chinese bonuses". (File Photo)|
A People's Daily Online Production by Li Zhenyu
A Blessing for Foreign Businesses
"Made in China" is not only a boon for the masses, but also a blessing for foreign businesses. For the last decade, alien companies have reaped huge benefits from "Made in China".
With the rising trend of global economic integration, "Made in China", to some extent, has evolved to "Made with China", or even "Made for China", making multinational corporations share the "Chinese bonuses".
The international sporting goods brand Nike has been involved in China for over 30 years, with about one third of its products made in, or to say, with China and more than 7,000 retail stores established in that country.
With over 1.3 billion people and the rising income growth, China has become the most lucrative potential market for almost every ambitious foreign business.
"I think China is probably more important than anywhere else in the world," said Charlie Denson, president of Nike Brand, an affiliate of Nike Inc.
Nike's sales surpassed $2 billion in 2011 in the world's most populous country, making China the biggest market outside the United States for the Beaverton, Ore.-based company.
The huge capacity of the Chinese market and low labor cost attracted more and more multinational corporations to "Made with China" or even "Made for China".
As of today, over 480 companies of the Fortune Global 500 have their investment in China. Foreign investment grew more than 9 percent annually during the past 10 years.
With China's cooperation and participation, multinational corporations have found a new, sustained growth engine and witnessed increased share of wealth.
"'Made in China' not only won't hurt our businesses, but bring them opportunities instead," said Duggan.