Davis Polk partner and Asia (excluding Japan) practice co-head Miranda So discussed changes in consumer market trends in China with the South China Morning Post.

The article notes that Western companies are increasingly exiting or downsizing their presence in China as domestic brands are becoming more competitive and offering products at significantly lower prices.

“It is a general trend among multinationals evaluating or re-evaluating their China strategy,” Miranda explained.

She added that while market conditions have changed and geopolitical uncertainties remain, multinational companies are not completely exiting the mainland but rather are rethinking their strategies.

“Waning fortunes: how Western brands are adapting to China’s changing consumer landscape,” South China Morning Post (February 7, 2026) (subscription required)

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