(Yicai) March 19 -- An increasing number of multinational companies no longer limit themselves to seeing China as a manufacturing base or a sales market but as a research and development center and a collaborative hub within their global strategies, according to the chief executive officer of Deloitte's country unit.

Against the backdrop of rising international environmental uncertainties, China provides a stable operating environment for multinationals through its institutional openness, Dora Liu said at the second Deloitte Multinational Enterprises Forward-Looking Summit held yesterday. An innovation ecosystem driven by high-level talent, a complete supply chain, rich application scenarios, and efficient institutional collaboration is also rapidly taking shape in the country, deeply integrating into the global R&D network, she noted.

Despite insufficient global economic growth momentum and unclear prospects, the position of the Chinese market in multinational firms' global strategies has become more prominent, said Li Jiaming, managing partner of Deloitte China's foreign enterprise business, citing long-term market observations and in-depth interviews. This is specifically reflected in the accelerated transition of the country's role, companies' localization 2.0 practices, and the upgraded global role of Chinese teams, Li noted.

The layout of multinational enterprises in China is undergoing a profound transformation -- from a focus on localization to serve the local market to a strategy that empowers global operations from the country, Li said. In areas including energy transition, biotechnology, digital economy, and advanced manufacturing, China is nurturing a new wave of innovation, Li pointed out.

Leading multinational firms are beginning to leverage local innovations to benefit global operations, achieving strategic leaps through digital transformation of business models, empowering decision-making, and enhancing responsiveness, Li noted. In addition, as an increasing number of them position China as a strategic hub for sharpening their competitiveness, the ability to attract and retain high-quality research and management talent has become a critical pivot for the success or failure of global strategies, Li added.

The localization of talent is accelerating and deepening, Li said. More and more companies are focusing on cultivating local leadership, encouraging a shift from "executors" to "decision-makers" and from "participants" to "leaders," thereby achieving a strategic transition from "outsiders" to "local co-creators," Li stressed.

Editor: Martin Kadiev