Global presence alone won't make companies MNCs, say experts

As Chinese companies ramp up their presence on the international stage with a string of headline-grabbing acquisitions catapulting them to global fame, some experts urge caution: Most still cannot be called true multinationals.

"I think there are a small number of Chinese companies that are already global companies, but it is a very small number, like Lenovo and Huawei," said Stephen Phillips, chief executive of the China-Britain Business Council.

"Some Chinese banks have a very significant international presence as well, but they mostly serve the Chinese customer base, rather than serve the international customer base, so they are only part of the way to becoming truly global in my view."