Reported about 1 year ago
TCL's founder and chairman, Li Dongsheng, speaking at the Yabuli China Entrepreneur Forum, highlighted the decreasing attraction of foreign investments in China due to the strong competitiveness of local businesses and the prevalence of cutthroat competition, known as 'incumbent.' This phenomenon, as also mentioned by Yu Minhong, chairman of New Oriental Education & Technology Group, can impede innovation and growth in Chinese enterprises. Despite these challenges, Li Dongsheng noted China's vast market demand continues to draw foreign investments. He emphasized that in manufacturing, the key competition lies in cost efficiency and technological innovation.
Source: YAHOO