TIANJIN, June 27 (Xinhua) -- Global professional services firm Marsh McLennan has seen a striking shift in China's corporate landscape, with local enterprises rapidly evolving from management novices into sophisticated global players.
With over four decades of experience in China, the firm -- specializing in risk, strategy and people -- noted that Chinese companies, particularly private-sector leaders, have fast-tracked what would typically be 50 years of development into just a decade. They have swiftly adopted modern governance and risk management practices, laying a strong foundation for their global expansion.
"Maturity is the defining trend," Catherine Li, CEO of Marsh McLennan China and president of Mercer China, told Xinhua in an interview on the sidelines of the Summer Davos held this week in north China's Tianjin Municipality.
A decade ago, even emerging internet companies lacked basic frameworks such as job-candidate matching, and many private enterprises relied on rudimentary management methods. Today, she said, a growing number of these companies are far better equipped to pursue their global ambitions.
The shift is evident in risk management, with organizations increasingly creating chief risk officer roles and even establishing in-house brokerage units, according to Marsh McLennan executives.
The company also highlighted broader changes in China's corporate landscape. In a global survey by Mercer, 55 percent of Chinese firms reported improved efficiency through AI adoption, underscoring the pivotal role of technology in boosting productivity across the country.
As China's population ages, multi-generational workforces have become the norm, prompting leading employers to adopt holistic well-being strategies to address diverse needs across age groups, according to the firm.
It sees "going global" as a key opportunity for Chinese firms, particularly in the automotive, new energy and biotech sectors, where China has built strong competitive advantages.
Having entered China alongside foreign multinationals decades ago, Marsh McLennan is now witnessing rising demand to support local companies in their global expansion efforts.
"We have witnessed China's economic ascent and supported the growth of local enterprises," Li said. "There is no doubt that we will stay committed to the Chinese market, which boasts high-growth prospects." ■
