Twin-pronged plan for growth

Although reshoring is largely confined to European and US companies, some Chinese companies are using reshoring and offshoring to maintain steady growth.

Li Shaoxing, chairman of Huaxia Machinery Plastics Co Ltd, a plastics products maker, says his company is looking to move into newer regions to offset the dwindling price advantages in China and other neighboring countries.

The company, based in Zhengzhou, Henan province, says it expects to maintain its 20 to 30 percent annual growth in net profits by moving some production from Vietnam to regions such as Africa.