TAIPEI, Taiwan YORK (TheStreet) -- China's economic growth is expected to slow for years, so multinational companies are starting to adapt to the changing business climate there.  

"Overseas companies have already recognized the shift and are responding accordingly," says Nitin Dialdas, chief investment officer with Hong Kong fund manager Mandarin Capital.

Multinationals now accept the idea that China's growth has to slow as it weans itself off manufacturing and state spending on infrastructure and moves toward a more consumer-focused economy.

"With a growing consumer base there are more retail names going into China and this will continue to grow in the years to come," says Dialdas. "At the same time, you are not hearing of many companies moving or opening factories in China anymore."

Chinese officials have warned since 2011 about the prospects of slower growth as they engineer much of the economic transition. So while China tries to encourage spending by consumers, who historically prefer to save or invest, multinationals are switching gears to take advantage of the trend. 

Starbucks (SBUX - Get Report) , for example, said in March it would work with Chinese food empire Tingyi Holding (TCYMF) to make and expand distribution of its ready-to-drink products in China. Apple (AAPL - Get Report) also plans to add 25 China stores over the next two years, for a total 40.

And the entire United Kingdom aims to make China a "top 3" market.

"That will only happen by businesses thinking big and leveraging the natural synergies with heightened Chinese demand for U.K. knowledge," said James Berkeley, managing director of management advisory service Ellice Consulting in London.

Other forecasters have slightly different growth rates but still don't see a rebound ahead. According to the World Bank, China's $10 trillion-plus economy will grow by 7.1% this year, 7% next year and 6.9% in 2017. China can "hope to deliver" 6% in 2020, says U.S.-based economic research consultancy Rhodium Group.

A month ago, stats like those contributed to a global market selloff, which was led then by the continued meltdown in Chinese share prices after a 30% rout in June and July.

This article is commentary by an independent contributor. At the time of publication, the author held no positions in the stocks mentioned.