Specifics of activities of China's transnational corporations on world markets
DOI:
https://doi.org/10.26565/2310-9513-2022-16-02Keywords:
transnational corporations, Chinese economy, world markets, impact of innovationsAbstract
Modern Chinese transnational corporations act as leaders in the world markets and have all the prospects for development. Today, the Chinese government seeks to change the status of the country from 'industrial" to "innovative". so it creates an optimal economic atmosphere for work in the country and in cooperation with other countries. China is strengthening its position in the innovation environment through its contribution to R&D and the development of the digital economy. The subject of the study are all aspects of Chinese TNCs’ production, innovation, investment, which make them successful operation on world markets. The aim of the study is to investigate the specifics of TNC activity, to evaluate how Chinese TNCs function in global markets. The objective: to consider the theoretical and methodological basis of the study of transnationalization in the world economy; to determine the essence and principles of the activities of transnational corporations, to study the specifics of the emergence and development of transnational corporations in China; to determine the current state and development prospects of China's TNCs on world markets. The research methodology is based on the application of a systematic analysis of the activities of transnational corporations, statistics and the historical-theoretical background of the emergence of TNCs, as well as the use of abstract research methods, expert assessments, correlation - regression analysis and economic analysis. Results: in this article, based on economic analyses, the role of China’s transnational corporations was assessed, and several priority development areas were identified. Conclusions: Most of China's multinational companies are among the top 500 of Fortune Global 500 and top 100 list of Forbes . Chinese multinational corporations use various strategies to increase competitiveness, especially "mergers and acquisitions", expanding not only the scale of production, but also the spheres of activity. Based on this, it can be concluded that Chinese TNCs have significant prospects for development and leadership in world markets.
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