That has made China's vast domestic market increasingly attractive to foreign companies. For multinational enterprises, Chinese localization has become an inevitable choice.

As the world's second largest economy, China has a huge market demand, a complete industrial system, and abundant high-quality labor and entrepreneur resources.

In the past two decades, China has been the most important market growth point and product procurement center for many multinational enterprises, and the economic and trade cooperation between China and major economies in the world is very close.

Over the past five years, however, this relationship of interdependence and development has continued to come under pressure, creating more uncertainty for multinationals operating in China. Even in the face of the recent economic downturn, multinationals recognise China's huge consumer market, growing middle class and well-developed supply chain and logistics infrastructure as irreplaceable advantages. For multinational enterprises, Chinese localization has become an inevitable choice.