Multinationals change tack to keep expansion going

Buoyed by the huge growth opportunities, a growing number of multinational firms are moving away from other global markets and focusing on Chinese consumers, said a leading management expert.

Terence Tsai, associate professor of management at China China-Europe International Business School in Shanghai, said despite the slower growth rate, China's growth credentials are still more impressive than most of the Western countries.

"When they (multinationals) look at the Chinese market and the way Chinese people spend money, they know that China is ready for the big league," said Tsai, who specializes in multinational management and globalization strategies.