China: Chinese companies are erasing Chinese identity to save their reputation. The reason for this is both China’s defamation in the world market and relations with America. Many Chinese multinational companies have removed the name of China from their website. They are setting up their headquarters in countries like Singapore, America.
Many companies are getting registered in other countries by ending Chinese registration. The owners of some Chinese companies have left the country and settled in other countries.
Shan was a Chinese fashion company registered in Nanking, China. Canceled it and got it registered in Singapore. TikTok is headquartered at Team Booster in Los Angeles, and its parent company, PDD Holdings, is based in Ireland. Many Chinese solar companies have opened factories in other countries to avoid being accused of forced labor.
America has imposed a heavy tax on forced labor. Companies in other countries operating in China also separate their Chinese operations from their cross-border businesses so as not to affect their reputation. Venture capital firm Sequoia Capital has divided its entire business into 3 parts, one in China, the second in India, and the third globally.
Research by supply chain technology company Altana shows that since 2016, companies began leaving the country because of China’s new laws, customs, and trade policies, but now they are also giving up their Chinese identity.