2025 KPMG MNC China Outlook Report

Executive Summary

Short-term caution; long-term commitment

Multinational companies (MNCs) in China are relatively optimistic for the future and are maintaining market presence and navigating a period of slower growth by shifting strategies from growth to profitability.

Introduction

China's economy is entering a new phase – transitioning from a developing economy to a mature economy. This shift towards a more complex economic model presents not only many opportunities for multinational companies (MNCs), but also a new set of challenges. How do MNCs perceive their growth prospects amid this change? Are they still committed to the China market, and how are their strategies adapting to secure future success?