Business丨China pivotal to MNCs' global biz strategy

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Three or four decades ago, multinational corporations used to take a simple approach while conducting their businesses in China.    They would bring in products that had already succeeded internationally and instruct local factories to produce them for Chinese consumers.    This strategy, backed by the scale and profitability of the Chinese market, proved effective.   A s a result, they could gradually expand their presence by establishing additional plants, branches and regional offices within China to maintain a competitive edge. ▲ Visitors check large aircraft parts from Swedish technology group Hexagon AB at its booth during the seventh China International Import Expo in Shanghai on Nov 5. Tang Ke/For China Daily However, this model no longer fits today's complex business landscape.    A large number of global companies have leaned heavily on the China International Import Expo platform, held annually in Shanghai for seven years now, to showcase their latest products, sol ………………………………