Apple Store in Jinjiang District, Chengdu, China. Credit: Chris Nagahama via Unsplash
For many multinationals, the China market is crucial to their bottom line. But how much revenue do they actually generate from China? For the world’s most recognized brands, that answer is surprisingly elusive.
A review by The Wire of more than 100 multinational firms found that in recent public filings only about a quarter of them disclosed what share of global revenue they derive from their China operations. For a variety of reasons, analysts say global firms routinely mask their China sales, making it difficult for analysts, investors and even tax collectors to assess their exposure to China.
This week, The Wire looks at how much multinationals make in China, how that’s changed over time and why so many companies are unwilling to disclose that information.
Data: Company annual reports, 10-Ks and Universal Registration Documents
10-Ks AND N/As
Above is a selection of companies whose share of revenue from China is publicly disclosed. These firms repr
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Robert Lighthizer, the U.S. Trade Representative under Donald Trump, reflects on his decision to launch the trade war with China and begin the process of "strategic decoupling" — a process he says the U.S. must see through to the end.
