​Chinese companies are set to outperform their multinational rivals

Many Chinese executives are willing to forego a perhaps more predictable career path at a multinational company and choose the local companies, the report says.

James Root, a Bain partner and co-author of the report, said: "Locally owned companies have upped their game in terms of the experience, salary, and employee training and development they provide, in an effort to woo talent away from their multinational competitors. "

"Their fast-growing operations present opportunities for China's homegrown talent to rapidly take on leadership roles."

Decades ago, it was not uncommon for many Chinese business leaders to build their careers at multinational companies in China. However, the talent landscape has changed.

In the past five years, only 10 percent of executives at multinational companies have come from local firms, while almost one-third of the leaders of Chinese firms used to be employed at multinational counterparts.

This is because local companies are expanding their operations and now offer career growth opportunities that fully compete with established multinational companies.

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