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
Exclusive longform investigative journalism, Q&As, news and analysis, and data on Chinese business elites and corporations. We publish China scoops you won't find anywhere else.
A weekly curated reading list on China from David Barboza, Pulitzer Prize-winning former Shanghai correspondent for The New York Times.
A daily roundup of China finance, business and economics headlines.
We offer discounts for groups, institutions and students. Go to our Subscriptions page for details.
Why is one of Taiwan's largest media groups — Want Want China Times Media Group — spreading anti-U.S. rhetoric? Largely because its billionaire owner, Tsai Eng-meng, is known to sympathize with the Chinese Communist Party and favors unification with the mainland. Now, with Taiwan gearing up for a critical presidential election, Want Want’s efforts are picking up and helping to normalize CCP talking points.
A look at ZPMC: how it came to dominate ports around the world; its role in Chinese foreign policy; and the consequences of its links to the Chinese state.
The author and academic talks about how trade has actually changed over the last 40 years; why China's rise is linked to Asia's regionalization; and why international supply chains are efficient and resilient.
