MNCs eye massive chances in China's logistics
NEW YORK - Multinational giants - including FedEx, KKR and WPP - are eyeing enormous new business opportunities in China as the middle income population of the world's second biggest economy surpasses 600 million, 700 million in the foreseeable future.
"Our focus in China has been 100 percent on the consumer. We don't focus on export businesses, we focus on local consumption as the consumers have gone up in their purchasing power," said Henry R. Kravis, co-chairman and co-CEO of leading American global investment group Kohlberg Kravis Roberts.
Kravis was recently sharing KKR's success stories with about 100 multinational giants present at the Fortune leadership dinner in New York, entitled "Multinationals in China: Maximizing the Opportunity."
