Insights on a Rising China: Dialogues with Five Multinationals

From January to October 2025, China saw the establishment of 53,782 new foreign-invested enterprises, with a year-on-year increase of 14.7%. This reflects multinational corporations' confidence in the Chinese market. From beauty giants and industrial manufacturers, and from home appliance brands to clean technology developers, multinationals are not only opening new stores and building factories in China, but also continuously deepening their localization strategies, transforming China from the "world's factory" into a "global innovation engine."

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This year marks the 20th anniversary of L'Oreal China Research and Innovation Center. "I can say that in a way it was a bet, a vision, 20 years ago, to dare to implement research on beauty in China," said Xavier Blin, Director of L'Oreal Research and Innovation China.

Blin keenly captured the "rapidly changing" nature of the Chinese market. On the one hand, consumers' demands for products are more diversified. On the other hand, China's technological innovation is leading changes in the entire industrial ecosystem. "We are challenged and learn every day. This drives us to constantly challenge ourselves, develop better products and technologies for Chinese consumers, and also propels us to become a global leader," he said.

Today, L'Oreal Research and Innovation China is one of the hubs in L'Oreal's global R&D network with end-to-end full-link innovation capabilities and full-category innovation capabilities. "We are in a fantastic dynamic and highly skilled ecosystem of science in China. Its consumers are challenging, sophisticated and demanding, but, at the end of the day, are our best partner to innovate," Blin noted.

"China is important for our industry development and business growth. It has a high-quality innovation atmosphere and is an excellent hub for us to export products to Asia," said Fabien Siguier, Deputy General Manager of Adisseo.

Since establishing its facilities in Nanjing, capital of east China's Jiangsu province, this long-established French company, focused on providing animal nutrition additives, has not only received strong support from local authorities, but also deepened collaborations with universities and consumers. "We have developed many customized solutions for the Chinese market, and these solutions were created jointly with Nanjing-based universities and clients," Fabien noted.

Fabien found that the company's R&D centers in France and China have their own advantages: Those in France excel in basic research, while those in China are good at accurately connecting with customers and commercializing technologies. The two are converging into a powerful win-win cooperation model. "The most fascinating thing about the Chinese market is its resilience. No matter how the external environment changes, you can always find solutions in China," he said.

"The main purpose of a socket is to charge. The opportunities in China not only 'charge' the development of multinational companies but also 'charge' my personal growth," said Jose Manuel Martinez Gonzalez,Vice President of Sales and Director of R&D of Ningbo Vinon Import and Export Co., Ltd.

Ningbo Vinon Import and Export Co., Ltd. is a subsidiary of HBF Group, a French enterprise specializing in the research, development, and export of switches, sockets, wires, cables, and smart home products. Having worked in China for 17 years, he said that it's easy to deal with Chinese manufacturers and suppliers. "The Chinese economy is very solid and stable. On the other side, the logistics in China are top-level in the world. These two elements give you trust to be sure that China is still the best place for manufacturing all type of products," Martinez said. "I think part of the Chinese culture is developing together with customers."

In 2024, BSH Home Appliances Group upgraded its China R&D Center to a Global R&D Center. "China is a global center of home appliances, and you will find the best engineers and the best suppliers here in China," said Hubert de Haan, Senior Vice President and Chief Sales and Marketing Officer of BSHHome Appliances GroupRegion Greater China. "For China, we are developing products that are fitting to the Chinese consumer needs and their demands."

Working in China for over two years, he has clearly experienced an increasing demand for "upgrades" in the Chinese market. "More consumers need integrated appliances that fit into the living space," he said,"This reflects not only consumers' focus on living space optimization but also their pursuit of aesthetics and an integrated home experience." In his view, leveraging innovations developed in China allows BSH to further expand its market. "Our R&D center in China has become one of the key pillars of our global innovation network."

Rainer Kern, Vice President of Karcher Group (a German manufacturer of cleaning equipment and systems) and Chief Financial Officer of Karcher China, has lived and worked in China for 13 years. He thinks the Chinese market is vibrant. Chinese consumers' curiosity and eagerness for new products are compelling companies to become more dynamic, brave, and agile.

Karcher's Global R&D Center in China, focusing on battery technology and robotics, commenced operations in 2023. Kern revealed that this decision stemmed from a firm optimism about China's long-term development. "In the past, companies might have come to China for lower production costs or a large market. But China now has become a hub for talents and innovation." Kern believes that investing in the Chinese market offers a triple value: a complete supply chain ecosystem, abundant R&D talent, and a vast market scale. "Investing in China means investing in the certainty of growth. This is based not only on today's market size but also on the sustained innovative vitality, deep talent reserves, and continuously evolving consumer ecosystem here," he said.
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