From China CNR and CSR, they successively won orders for overseas locomotives, and Huawei took the lead in launching the 5G development roadmap. From Alibaba's creation of capital myth in the US, to the rapid rise of Xiaomi in China and even India, there was no personality or even low cost. The “Made in Chinaâ€, synonymous with the processing industry, is turning into a distinctive Chinese brand. Chinese companies are rapidly emerging on a global scale, and the gap in competitiveness with Western established companies is rapidly shrinking.
The US "Time" magazine reported that Chinese companies must have their own inventions and designs, and create their own brands. China is not going to follow the global leader, but must cultivate its own leaders. Today, this foresight is becoming a reality: as the Chinese economy enters a “new normal†of slowing growth, Chinese companies are increasingly gaining international competitiveness and are beginning to climb rapidly in global value chains.
With the rapid development of China's economy, Chinese companies are actively exploring overseas markets, increasing R&D investment, upgrading and innovating technologies, and increasing brand gold content. In emerging markets, the market share of Chinese companies continues to expand, and China Railway Construction Co., Ltd. has recently obtained an order to build a 1,400-kilometer railway in Nigeria.
In developed markets, Chinese companies have succeeded in opening up the door to developed markets that were previously unimaginable, relying on high-quality technology solutions, strong comprehensive strength and high cost performance. China CNR Co., Ltd. recently won the bid for the US Boston Metro purchase contract and will build a new assembly plant near Boston. This means that Chinese rail transit equipment manufacturers have officially entered the US market with the most stringent safety technology standards, which is a historic step for Chinese brands to enter the global high-end market.
With the development of independent technologies and strategic mergers and acquisitions, some Chinese companies are becoming the leading companies in the international market, and they have gained a share in the lucrative high-end market. Shenzhen Mindray Bio-Medical Electronics Co., Ltd., for example, since 2006 listed on the NYSE in the US, insisted that 10% of annual sales into research and development. Today, overseas sales account for more than 60% of the company's annual sales, and it has become a veritable global high-tech medical equipment company.
Shi Jiandao, a senior researcher at the American Enterprise Institute, wrote that Chinese companies used to only buy resource companies in the past, but now they are interested in acquiring assets from developed countries. Mindray Medical acquired US Lifescope's life information monitoring business for $202 million. This move has made Mindray the third largest player in the global monitoring industry, while also gaining access to a sales platform and service network into the US and European markets.
Thomson Reuters has published a research report saying: "Chinese brands are expanding rapidly internationally. For Chinese brand owners, as more and more companies begin to design and create their own products, the current market environment is experiencing once change."
In addition to exporting products and brands, whether Chinese companies are truly competitive overseas depends on whether they can introduce internationally recognized industry standards. After all, whoever can formulate industry technical standards will master the initiative of discourse.
Brand disputes often end up in a standard battle. As early as 2009, Huawei started the 5G research and is now at the forefront of the global 5G technology innovation. It can be said that Huawei has evolved from a market leader to a promoter and founder of the industry's core standards.
The progress and achievements of Chinese companies in the international market in recent years are obvious to all. According to Martin Sorell, CEO of WPP Group in the UK, although most Chinese brands still focus on the domestic market, “at a certain moment, Chinese brands It will also become famous in overseas markets. We have already seen this trend."
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