Multinationals bet on China's growth:
Leaders of some of the most influential global companies in the world agreed Friday in Chengdu, capital of Southwest China's Sichuan Province, that China would be the most competitive emerging market for them in the next decade, despite short-term volatility.Southwest China's Sichuan Province, that China would be the most competitive emerging market for them in the next decade, despite short-term volatility.
During his visit to the company's packaging operation in Chengdu this week, IP's Faraci found that while its export volume was down by 15 to 20 percent year-on-year, domestic sales growth has buttressed its overall growth at about 7 percent year-on-year.
As the Chinese consumer market is fast emerging, International Paper has followed its customers, mostly foreign consumer goods companies, to gear more of its paper packaging output toward the Chinese domestic market, which accounts for half of its sales volume now, according to its chairman.
