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Since the introduction of economic reform in 1978, China has grown to become the world's fourth largest economy and is expected to surpass the US economy in fewer than 35 years.
Accenture conducted a global survey of senior executives in an effort to understand China's importance to multinational companies in their pursuit of high performance.
China's foreign capital consumption reached $5.1 billion in January 2007.
Accenture undertook a study to understand the opportunities and challenges for multinationals doing business in China, and the country's importance to their future strategies for high performance.
In partnership with the China Supply Chain Council, Accenture surveyed 238 senior executives of multinational companies in Europe and North America as well as more than a hundred China-based executives of multinationals.
Respondents were drawn from diverse industries, including energy, retail, automotive, pharmaceutical, transportation, food and government. They represented organizations of varying annual revenues from less than $50 million up to more than $10 billion.
Almost one-third of the companies earn from 20 percent to more than 50 percent of their revenues in China while almost two-thirds have either a wholly owned subsidiary or a joint-venture operation in China. Twenty-nine percent of the sample companies has been operational in China for more than 10 years.
The main conclusions of the research showed that:
In analyzing the key points emerging from the research, Accenture found that:
Jamie Bolton is an Accenture executive partner who is responsible for the company's North Asia Supply Chain Management practice. With 15 years of experience, he has worked with many leading global and Asian companies across a variety of industries to improve their performance through supply chain mastery. Most recently, his work has focused on integrating multinational companies in China through global sourcing and operations strategy development and execution.
Philip Kwa is a senior manager in the Accenture Supply Chain Management service line. He teams with clients across industries to improve their performance through a broad range of services, including logistics management and strategy, supply chain planning, and supply chain training.
Michael Tse is a partner in the Accenture Supply Chain Management service line and leads the Supply Chain Strategy practice in North Asia. He collaborates with companies across industries to enhance their performance through supply chain mastery. His work with clients spans a broad range of strategy development and implementation issues involving global, pan-Asia Pacific and China supply chains.
June 26, 2007
Outlook from Accenture
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