Going global campaign continues apace

The past three years have witnessed an exponential growth in Chinese companies going global, demonstrating new trends and strategies, industry experts said.

Elan Shou, global chief growth officer and managing director of Asia at Ruder Finn, said: "Going global is a 'required course' for Chinese companies. Based on observations on years of services to Chinese companies going into dozens of international markets, we noticed that in the past year, Europe has become the hottest overseas destination for Chinese companies, followed by Southeast Asia, the Middle East, North Africa, the United States and Latin America."

Shou said that when Chinese companies accumulate their strength to a certain stage, they tend to do business in Europe. The current trade tensions between China and the US also make them think that Europe has a relatively more friendly business environment.

"Partner countries related to the Belt and Road Initiative also witnessed a surge as going global destinations, as these countries offer more friendly policies for Chinese companies," Shou added.

Phoebe Shen, general manager of Ruder Finn Thunder Singapore, said that during the 2025 Internationale Funkausstellung Berlin, Chinese brands were enjoying bigger booth space and better designs, demonstrating the rising status of Chinese companies.

"Chinese brands have transformed from 'followers' to 'leaders', from merely competing on prices to telling a nice brand story," Shen said.

According to a report issued by Beijing-based think tank ShineGlobal, in the past, popular going global destinations for Chinese companies were Southeast Asia, the Middle East and North Africa. Now, Latin America and Central Asia have also become popular. Data from the National Development and Reform Commission showed that in 2024, trade volume between China and Central Asian countries totaled $94.8 billion, up 6 percent year-on-year.

"The 2024 APEC Summit was held in Peru. Three Chinese automobile brands export their cars to the country, whose population is merely 34 million, ranking among the top 10 light vehicle brands in Peru. In Uzbekistan, sales of China's hardware and building materials, as well as new energy vehicles, are also increasing," said the report.

"In the European market, Chinese EVs are taking an increasing market share. Local consumers think the designs of the EVs are appealing, and the cars are user-friendly. This is the result of Chinese companies' accumulative strength," Shou said.

Speaking of future trends, Shou said autos, consumer electronics, foods and beverages, as well as e-commerce will be hot sectors.

"Chinese companies have a lot of advanced products. The important thing is that they communicate the products properly with local customers. In addition, brands are encouraged to connect with communities having young consumers, who have strong consumption power. Chinese brands should enter their communities and their lives, setting up emotional bonds and helping local societies become better," she added.

zhengyiran@chinadaily.com.cn