Facing dramatic growth during the past few decades, China has become a global manufacturing powerhouse. Multinational corporations (MNCs) are grappling with how best to serve demand for products of all kinds in a giant economy that presents equally oversized challenges including savvy domestic entrants and intellectual property theft. L.E.K. Consulting surveyed MNC executives in China—including several from large industrial product-supply companies—to understand how MNCs plan to cope with competitive challenges in China. In this Executive Insights, L.E.K.’s Michel Brekelmans and Eric Yan detail the strategies that many MNCs are cultivating to show creativity and agility in this alluring but challenging market.