Chinese enterprises' global expansion: Balancing growth and localization

Chinese enterprises are transitioning from simple product exports to a broader model that includes supply chains, branding and cultural influence, according to enterprises and experts.

At the 2024 China Enterprise High Quality Going Overseas Forum held recently in Beijing, experts and industry leaders shared insights into how Chinese companies can strategically expand globally, embracing high-quality development in increasingly complex international markets.

Long Yongtu, China's former chief negotiator for its entry into the World Trade Organization, highlighted the necessity of global expansion as part of China's economic evolution.

Bai Chong'en, dean of Tsinghua University's School of Economics and Management, which celebrates its 40th anniversary this year, spoke on the importance of considering the perspectives of host countries.

As one of China's global pioneers, Lenovo's journey has become a model for other companies. Lenovo Group Chairman and CEO Yang Yuanqing reflected on the company's 20-year global expansion, which began with its acquisition of IBM's PC business in 2004.

"Going global is more than just expanding abroad; it's about becoming a respected part of local markets," he said.

Zhejiang Geely Holding Group, China's largest private carmaker, has demonstrated steady growth in overseas markets, achieving 40 percent of the number of cars sold and more than 50 percent sales from abroad last year.

CEO Li Donghui cited the company's emphasis on innovation as a driver of global competitiveness. The company set up 10 research centers globally.

wangzhuoqiong@chinadaily.com.cn