By the end of the decade, the country’s economic miracle may be coming to an end.
China is already the world’s second-largest economy and has a rapidly expanding middle class, fueled by its massive demand for cheap imports.
But the Communist Party is moving to rein in its ambitions to dominate the world, pushing for tighter regulation and more openness.
Some fear the country may eventually become a net importer of consumer goods, which would make it difficult for China to maintain a global market.
But some companies are trying to take advantage of the opportunity.
Some of them, like the electronics manufacturer Foxconn, have been expanding their manufacturing facilities in China.
Foxconn’s factory in Hefei, in northern China, has become a hub for the Chinese manufacturer, making components for a range of consumer products including smartphones, tablets and other electronics.
Its Chinese factory, called Foxconn China, employs about 6,000 people, including 2,000 workers in manufacturing and another 1,000 in sales and service.
It’s the largest manufacturing facility in the country, with a capacity to churn out products in bulk.
Foxclaws factories in other parts of China have also attracted more Chinese workers.
They include a massive assembly plant in the city of Wuhan in Hubei province that makes aluminum, aluminum powder and other materials, and an assembly plant near the northern city of Ningbo that makes plastic components.
Foxllaws manufacturing base in China is in a region that’s becoming a hotbed for the emergence of a growing number of Chinese businesses in other countries.
That’s led to a surge in investments from foreign companies looking to take control of Chinese companies that they think will benefit from cheap labor.
That, in turn, has made Foxconn more competitive, and its profits are rising.
Fox’s CEO, Terry Gou, recently said the company’s earnings in 2016 were the best year of the company, in part due to the fact that it expanded production capacity in China, adding about 2 million square feet of space.
He said it’s also expanding its facilities in other places like the United States and Europe.
The expansion of Foxconn is also part of an effort to improve the Chinese economy.
Gou has been trying to address some of those challenges with measures like raising the minimum wage to 25 yuan ($3.20), raising its corporate tax rate from 7 percent to 12 percent and encouraging more companies to invest in China’s infrastructure.
He also wants to loosen regulations that were put in place in recent years to protect the livelihoods of Chinese workers and to help the country diversify away from its reliance on imports.
“I’m not going to allow the Chinese government to run our economy,” Gou said.
Fox said it is investing in the development of its factories in China and has hired 20,000 Chinese workers, mainly for its assembly line.
The company also has plans to hire another 30,000.
“We’re very pleased that Foxconn has chosen to open its assembly lines in China,” Gou told reporters in June.
“It is a significant step in the right direction.”