Think Tank

Guangming Review: Enterprises Accelerate Going Abroad to Improve China's Level of Opening up to the Outside World

2023-12-19   

Cross border e-commerce exports. In 2023, Chinese enterprises accelerated their overseas expansion process, demonstrating the positive effects of China's response to the complex external environment, enhancing the vitality and resilience of foreign trade, and greatly improving the long-term level of opening up to the outside world. Chinese enterprises are actively exploring new business models overseas. With the accelerated evolution of a new round of technological revolution and industrial transformation, the global industrial form is gradually shifting from industrialization to digitization. Chinese enterprises are actively taking advantage of this trend to accelerate their overseas expansion in new formats such as cross-border e-commerce, Silk Road e-commerce, cross-border logistics, short videos, and games. In 2023, "stories of going out to sea" are not uncommon. For example, Chinese branded mobile phones and mobile internet applications have become the main suppliers of smart devices and software services in some emerging market countries. The overseas layout of new business formats demonstrates the enhancement of China's comparative advantage in foreign trade. In the era of digital economy, the dividend of globalization has shifted from division of labor to network integration. In the past, multinational corporations saved labor costs through division of labor; Nowadays, some multinational corporations coordinate the allocation of global resources through big data and algorithms to achieve greater network effects. Although labor and product prices remain competitive advantages in China's e-commerce logistics industry, factors such as more hiring of local labor in overseas business have led to a relative decline in this advantage. Facing small orders from consumers directly tests more of a company's algorithms, computing power, and data processing capabilities. This also indicates that vigorously developing and applying digital technology has become the key for Chinese enterprises to strengthen their comparative advantages in going abroad. Chinese enterprises are actively expanding into high-end manufacturing industries overseas. Chinese manufacturing enterprises are adapting to the trend of high-end, intelligent, and green development, shaping new advantages on the new track. On the one hand, China's high-speed rail has accelerated its overseas expansion and achieved a high-quality combination of "high-speed rail+5G" for joint overseas expansion. The road towards high-end and intelligent development is becoming wider and wider. For example, recently, the first high-speed railway to directly connect to a city on the China Vietnam border, the Fangdong Railway, has entered the full map trial operation stage, and has achieved full coverage of 5G signals along the railway line ahead of schedule. On the other hand, new energy vehicle companies frequently go global. Geely plans to invest $10 billion to build an automotive city in Malaysia, BYD will establish a large production base complex in Brazil, SAIC plans to invest in building new energy vehicle factories in Europe... In addition, Chinese enterprises are constantly pursuing high-end development in traditional infrastructure, energy, mining and other construction fields. The overseas layout of high-end manufacturing shows the improvement and upgrading of Chinese manufacturing. Going abroad is a natural extension of the domestic industrial chain, and can also lead the high-quality development of local industries and reshape the global industrial ecosystem, improving the quality of international circulation. Chinese enterprises are accelerating their overseas layout, effectively promoting the transformation from Chinese manufacturing to Chinese intelligent manufacturing. At the same time, Chinese enterprises are expanding their investment in cross-border data flow, intellectual property protection, and other fields to ensure economic security both domestically and internationally

Edit:GuoGuo Responsible editor:FangZhiYou

Source:gmw.cn

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