Number of Chinese enterprises going overseas reaches historic high: report

Updated: February 5, 2024 Source: Xinhua News Agency
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HONG KONG, Feb. 5 (Xinhua) -- An unprecedented number of Chinese enterprises are going overseas, reaching a historic high, despite some Western media's negative reports about China's economy, the Hong Kong-based Yazhou Zhoukan reported on Sunday.

Chinese enterprises are going overseas despite high tariffs and various sanctions imposed by the United States, the report said.

This indicated China's powerful innovative abilities and risk consciousness, the report said, adding that it created new commercial space and represented China's robust national competitiveness.

According to the report, China's cross border e-commerce platforms are attractive to foreign consumers. The country's digital management ability and complete industrial chain can cut costs by eliminating middlemen, thus providing consumers with more affordable prices.

In the global market, this digital process helps China's manufacturing industry expand and gain a greater presence in both developing and developed countries, the report said.

Chinese enterprises that go overseas have a technological advantage, the report said. Apart from advantages in hardware, China's software also impresses the world, it added.

The article took Chinese catering companies as an example, saying they relied on their digital techniques from supply chains to front services to stay competitive. Some of these companies, according to the report, have entered high-end markets in Europe and the United States.

Editor: Tian Shenyoujia