International investment in China 'is changing'
Western firms are having to change how they see doing business in China, economist Patrick Chovanec tells the BBC's Asia Business Report.
He says that with wages rising in the country, international companies no longer see China as simply a place to do their manufacturing.
Instead, Prof Chovanec of the Tsinghua University in Beijing, says China is increasingly seen as a place in which to target potential consumers.
His comments follow after a report by accountancy group KPMG, which among other things said overseas firms needed to increasingly target cities in China's interior, away from the coast.