According to the document: - Multinational corporations in China continue to rely on expatriate staff and foreign talent to fill skilled positions, as demand for experienced managers exceeds the local supply. However, companies also seek to control rising costs. - "Localisation" now refers to transitioning expatriates onto local employment contracts in China to reduce costs, while retaining key personnel. This lowers compensation and benefits to local standards and subjects the employee to Chinese labor laws instead of their home country. - While housing and schooling are often cited as high costs, international tax preparation fees actually represent the largest single expense - often exceeding $100,000 per expatriate annually and the employee's salary. Localization could