Abstract Guangzhou citizen Li Jie bought a pair of Nike sneakers not long ago. He found that the production of this pair of Nike shoes is not familiar with "Made in China" but "Made in Indonesia." Nike shoes production changes, mapping...
Guangzhou citizen Li Jie bought a pair of Nike sneakers not long ago. He found that the production of this pair of Nike shoes is not familiar with "Made in China" but "Made in Indonesia." The change in the origin of Nike shoes reflects the trend of a new round of industrial transfer in the manufacturing industry. High-end manufacturing has begun to return to Europe and the United States, and low-end industries have shifted to Southeast Asia. In 2013, the actual use of foreign capital in China's manufacturing industry fell by 6.78% year-on-year. In Guangdong, the largest foreign trade and economic province, the actual absorption of foreign investment in the manufacturing industry fell by 2.05%. The relevant person in charge of the Foreign Investment Management Office of the Guangdong Department of Commerce told the Economic Information Daily that the enterprises that were closed in Guangdong were mainly low-end, labor-intensive enterprises, which met the requirements of industrial upgrading and had little impact on imports and exports. However, we must be wary of the lessons of industrial transfer in the United States and Hong Kong. The manufacturing industry is the foundation that can attract logistics and service industry support. If the transfer is too fast, there will be a phenomenon of “industry hollowing outâ€.
Ending in the "Golden Age" in China?
In the interview, the reporter learned that after the financial crisis, developed countries implemented the strategy of re-industrialization, coupled with the integration of domestic and foreign-funded policies, the decline of economic growth, rising labor costs, and fluctuations in the exchange rate of the RMB, the difficulty of attracting investment and the increase in investment. It has slowed down to single digits, and local areas and industries have shown signs of foreign capital withdrawal.
Earlier this year, GM moved its international operations headquarters from Shanghai to Singapore. A former employee of the Vale office in Shanghai told the Economic Information Daily that Vale has gradually shifted its business focus. Currently, the Asia-Pacific headquarters is located in Singapore. The Shanghai office is nominally the headquarters of China, but it is basically equivalent to the back office. Only responsible for the order, signing the contract and settlement are in Europe.
Hao Le, an expert at the Shanghai Foreign Investment Promotion Center, believes that some foreign companies keep the company's legal person and registration content unchanged, but shift key parts such as production and profits and begin “hidden evacuationâ€.
Hu Bin, deputy director of the Foreign Investment Department of the Investment Promotion Committee of Nanjing, Jiangsu Province, said that some foreign-invested real estate enterprises have experienced capital reduction this year. If there are conversion shares, they will transfer domestic capital, and some of them will reduce their capital by more than 100 million US dollars. The international financial center in downtown Nanjing was originally invested by Li Ka-shing, which has been transferred to China.
In the first five months of this year, Guangdong real estate development enterprises used 886 million yuan of foreign capital, a year-on-year decrease of 40.4%. Cai Suisheng, president of the Guangdong Real Estate Association, believes that since the use of foreign capital accounts for less than 1%, the withdrawal of foreign capital has little direct impact on the Guangdong property market. However, the capital is profit-seeking. The signals behind it indicate that the market is not confident enough, the economy is still in a slump, and the high risk of the property market is highlighted. It is necessary to be alert to the chain reaction caused by the decline of the property market.
The China Business Environment Survey recently released by the American Chamber of Commerce in China shows that China was the preferred investment destination for most member companies seven years ago, but it has now fallen to 20%. The European Union Chamber of Commerce in China released the results of the survey. Two-thirds of the large companies said that it is increasingly difficult to operate in China, and half of the companies surveyed believe that the “golden age†in China has ended.
Wang Zhile, a researcher at the International Trade and Economic Cooperation Research Institute of the Ministry of Commerce, reminded that a survey by the Japan External Trade Organization showed that Japanese investment in China fell 17.7% year-on-year, while investment in ASEAN was 2.6 times that of investment in China. The United States, Europe and Japan are the three regions with the largest source of foreign investment in China. These surveys have shown that foreign investors are even more disappointing in China. This is a rare event in the past decade and needs to be highly concerned and channeled.
China is still an investment strategy
At present, there has not been a phenomenon of “large-scale evacuation†of foreign capital across the country. Zhang Cheng, a researcher at the Research Center of Multinational Corporations of Nankai University, pointed out that China's economic fundamentals are good, and its comprehensive supporting capacity is strong. In a short period of time, foreign investment will not be “ebbeticâ€.
In the eyes of many foreign companies, China is still a strategic investment. Wang Guangsheng, general manager of Caterpillar (Tianjin), told the "Economic Information Daily" reporter that the "Tianjin Large Engine and Generator Set" project has a total investment of 300 million US dollars. It was laid in 2011 and the funds are now in place. China's shale gas mining is in its infancy, and large-scale engines are in great demand in the future.
Chen Yudong, president of Bosch (China) Investment, believes that Bosch does not regard China as a low-cost manufacturing base, but as a global market. As a large-scale technology and service provider, Bosch's sales in China last year were 41.2 billion yuan, an increase of 18%.
The relevant person in charge of the Foreign Investment Management Office of the Guangdong Department of Commerce said that foreign investment in Guangdong is relatively stable and there are no signs of large-scale evacuation. In 2013, the contracted foreign investment in Guangdong was US$36.313 billion, an increase of 3.77% year-on-year. The actual foreign investment was US$24.952 billion, an increase of 5.96%, accounting for 15.72% and 21.22% of the national total. From January to July 2014, the actual amount of foreign investment absorbed by the province was US$16.02 billion, up 8.25% year-on-year. 3265 foreign direct investment projects were newly approved, up 13.17% year-on-year.
In Fujian, where foreign capital has gathered, there has not been a large-scale withdrawal of foreign capital. According to data from the Fujian Provincial Department of Commerce, from January to August, 690 new foreign-invested projects were approved in Fujian, up 26.6% year-on-year; the actual amount reached US$5.06 billion, up 5.9% year-on-year. The foreign competent authorities of many other provinces, autonomous regions and municipalities reported that the cited foreign investment was positive.
From the national perspective, the introduction of foreign capital still maintains a growth trend. According to data from the Ministry of Commerce, in the first half of the year, 10,973 new foreign-invested enterprises were established, an increase of 3.2%; the actual use of foreign investment was US$63.33 billion, an increase of 2.2%. The investment in China by major countries and regions has generally maintained a growth trend. The top 10 countries and regions (Hong Kong, Taiwan, New Zealand, Korea, Japan, the United States, Germany, Britain, France, and Netherlands) have invested a total of US$59.53 billion. It accounts for 94% of the country and an increase of 3.9%.
Multinational companies adjust their layout in China
Someone is coming, someone is coming. In fact, under the circumstance of deepening the coexistence of interests, many foreign-funded enterprises no longer regard China as only an important production and processing base, but rather focus on expanding the domestic demand market, and their income in China accounts for an increasing global share.
The "Economic Information Daily" reporter recently visited a number of foreign-funded enterprises in China and found that foreign capital represented by "global companies" is strengthening its layout in China from three aspects.
First, increase the introduction of core technologies and advanced products into China. A person in charge of Semiconductor Manufacturing International (Beijing) Co., Ltd. told reporters that the original foreign countries only allowed the "N-1 generation", that is, the production technology behind the most advanced products to get Chinese investment and construction, but these two years South Korea's Samsung [Weibo] has invested in the most advanced technology in Xi'an, which has become a major breakthrough.
BMW Group Director Esina said that BMW's advanced three-cylinder and four-cylinder petrol engines will be put into production in China in 2016, which is hard to imagine in the early days of BMW's entry into the Chinese market.
He Guofei, director of the factory of Sanofi (Beijing) Pharmaceutical Co., Ltd., told the Economic Information Daily that as a global pharmaceutical company, Sanofi produced only the imported "drug core" in China in the first two years, but this In the past two years, the “core-making†production line has been built, and its most advanced technology has been brought to China. The technology was originally only deployed in Europe.
The second is to promote the localization of research and development. Wang Xiangyu, general manager of Stratasys Greater China, a 3D printing company in the United States, told reporters that 3D printing technology is a rapidly developing advanced technology in the world. The company has expanded its technology research and development strength in China in the past two years, and all R&D technicians are Chinese.
The BMW Group said that with the increasing investment in China, R&D in China has become an important part of the BMW Group's global R&D. The BMW Group has set up R&D bases in Beijing and Shanghai, and recently established research and development facilities in Shenyang. There are more than 500 Chinese R&D personnel, accounting for the majority.
The third is to create products for the Chinese market. From manufacturing to service industry, in recent years, "global companies" have worked hard to deepen services for the Chinese market. German automakers such as Volkswagen, BMW and Mercedes-Benz are all manufacturing long-wheelbase cars for Chinese consumers, and some models are almost exclusively produced in China. Microsoft [microblogging] company vice president Chen Shi told reporters that Microsoft has extended the free support services for Windows XP system, including patch services, on a global scale.
And the war and retreat from a Nike foundry company
Sanfeng Shoes is a Taiwan-funded Nike foundry company that has been investing in the mainland for more than 20 years. Affected by rising labor costs and tax policy adjustments, the company's production capacity has shifted in the eastern coastal strategy for more than a decade, and has gradually tilted toward Southeast Asian countries. Taking into account the market layout, industry maturity, corporate image and other factors, Sanfeng Footwear said that it did not dare to leave the mainland completely, but stick to it, and the heart is full of entanglement.
Strategic shift
Lou Ping, Chairman of the Board of Directors of Sanfeng Shoes Co., Ltd. told the Economic Information Daily that the company had invested in the mainland since 1988 and has been focusing on manufacturing, mainly for the manufacture of sports shoes for Nike.
"At present, the biggest problem encountered by enterprises is the high labor cost. The labor cost has increased since 2002 and has been greatly adjusted in 2009. Since then, it has increased at a rate of about 12% every year." Lou Ping said.
The employment tension has become the biggest constraint to the development of Sanfeng footwear industry. Even if the salary rises, it will be unsatisfactory and will not retain workers. In the past, new workers were recruited and trained for one or two months to stabilize their jobs. The loss rate of new workers in the first half of the year is 60%, and less than 30% can be retained for more than one year.
Along with the rising labor costs in the eastern coastal areas, the company's production capacity has gradually shifted in the coastal areas. From Kunshan to Fuzhou to Putian, Sanfeng Shoes has established three factories in China.
Lou Ping said that because the salary in the Yangtze River Delta is too high, the Kunshan plant now only makes a high value-added air cushion fitting, which is basically completed by mechanical automation, and the labor dependence is small. The scale of the Fuzhou plant has also been reduced in the past two years. Only the Putian plant is currently developing well, and the 13,000-employee team is still relatively stable, because the labor costs there have not yet risen.
Affected by labor and raw material cost factors, the new investment of Sanfeng Shoes in 2000 began to tilt toward Southeast Asian countries such as Vietnam. In recent years, the expansion rate in mainland China has not been comparable to that of Vietnam, and corporate profits are not as good as Vietnam.
"hold" the price
Lou Ping believes that in terms of processing and manufacturing, China will no longer be the focus of foreign investment in the future, but the existing processing industry is unlikely to completely withdraw from the mainland market, including buyers like Nike, which will guarantee a certain annual The amount of Chinese orders. This is related to the global layout of foreign companies. For the sake of risk diversification, they must guarantee a certain amount of orders in China. Compared with the regions where Vietnam and Thailand suddenly broke out political events, China’s political situation is stable, the investment environment is mature, and the government’s efficiency and integrity are better. For international buyers, these factors are very persuasive.
The more important reason is that China, as one of the most important economies in the world, will have a great negative impact on itself and even damage its business reputation if foreign investors withdraw completely. "Imagine if a big brand withdraws completely from China, the outside world will definitely guess what is wrong with the company." Lou Ping said.
In addition, although labor costs have risen, the mainland has other advantages, such as complete industrial chain, better labor quality and proficiency, and more opportunities for development in related industries. Some Taiwanese businesses have diversified their operations in the mainland. In addition to the footwear industry, they are also involved in other industries. It is impossible to shift the focus of the entire industry to Southeast Asia.
Taking Sanfeng Shoes as an example, it still insists on the scale of stocks in mainland China, and its production capacity has remained basically stable. However, “holding†has also paid a price for enterprises. Lou Ping told the Economic Information Daily that due to various cost increases, the company's profitability has barely increased in recent years, and the profit margin can only be maintained at a low level.
Lou Ping stressed that it is necessary to guard against the "hollowing" of the manufacturing industry. The mainland has not developed to the extent that it does not require secondary production. Without the manufacturing industry as the foundation of the real economy, the service industry will lose its support. Although the contradiction of coastal employment is prominent, there are still hundreds of millions of migrant workers in the central and western regions who need to solve employment. Processing and manufacturing is still the largest exporter to provide jobs.
Lou Ping believes that the industry itself has no high or low points, and traditional industries can also have high-tech, high-end equipment and scientific management methods. "For processing trade and traditional manufacturing, the focus of government work should be to accelerate the transformation and upgrading of industries, supervise corporate legal compliance and fulfill social responsibilities."
Looking forward to fairness
"We have entered the mainland for more than 20 years and have already become an integral part of the Chinese economy. There is no difference between domestic and foreign capital." Lou Ping suggested that visitors should look at the staged characteristics of the mainland's economic development and face the necessity of the existence of foundry enterprises. The fair treatment that enterprises should have.
First, improve and improve key systems such as social security as soon as possible to ease the pressure on employment costs.
Lou Ping said that the social security paid by enterprises to migrant workers now accounts for 40% of the labor costs, but this part of social security benefits is not fully enjoyed by migrant workers. She suggested that the social security provided by the local employees to the employees can be docked with the new rural cooperatives and new rural insurance accounts in their hometowns as soon as possible. On this basis, the proportion of corporate payment is appropriately reduced, which not only reduces the burden on the enterprise, but also makes each cost It falls in the employee's social security account.
Second, in terms of industrial policies, domestic and foreign-funded enterprises are treated equally and do not engage in differential treatment.
"Compared with the policy concessions, we are more concerned about the stability of the policy." Lou Ping believes that the overall investment environment and hardware facilities of the mainland are very good. The soft environment, including government efficiency, civil service quality and execution, are good, but the macro environment is not conducive to The development of foundry enterprises, there are objective factors of economic development, as well as the subjective reasons of local governments. “In recent years, it has become obvious that local governments are more willing to support local enterprises and develop local brands.â€
The third is to formulate a professional plan for the gradient transfer of processing trade enterprises, and reserve time and space for enterprises to move and transfer.
Lou Ping told the Economic Information Daily that a competitor had moved the factory to a central province to grab orders at a lower price. I did not expect that the local minimum raises the minimum wage in the second year; the increase in labor costs, coupled with the cost of transportation in the Mainland, unskilled workers and other factors, the business situation will not work immediately, and finally the factory can only be closed. Every worker has to pay a year's salary, and the company's money has not earned a loss of 100 million.
Lou Ping said that nowadays, regardless of the eastern, central and western regions, high-tech and high-end service industries are eagerly awaited. In some areas, they are actually out of touch with the local industrial base and the quality of the labor force. It is hoped that the government will fully understand the necessity of the existence of processing and manufacturing enterprises at this stage, and take the lead in formulating a professional industrial transfer plan. While supporting the transformation and upgrading of enterprises, it also guides the direction of enterprise gradient transfer.
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