Text—Qiu Liben
Despite the recent intensification of the Western media to sing the praises of China's economy, but the objective fact is that Chinese enterprises are rising to a historical peak in the face of 25% tariffs from the United States, as well as various strange sanctions, but the speed, density and intensity of Chinese enterprises going overseas are unprecedented, behind China's strong innovation ability, as well as the sense of distress in the internal economic adversity, facing difficulties, creating new business space, and demonstrating China's huge international competitiveness.
Breakthroughs began in the United States and Western countries, in the past six months, China's cross-border e-commerce Shein Shein and Pinduoduo's international version of Temu Temu have been in the forefront of App downloads in the United States and Europe, Temu has even become a champion several times, showing the love of consumers, moved by the cost-effective and efficient express delivery of Chinese products. The digital management capabilities of China's cross-border e-commerce and the complete industrial chain will reduce many intermediate links, cut a lot of agency costs, and allow consumers to enjoy more "price reduction and efficiency", overwhelming giants such as Amazon, showing China's strong competitiveness, and creating a market size of more than 2 trillion yuan.
It is expected that in the next two years, these two Chinese cross-border e-commerce companies will win the majority of the market share of Western e-commerce, because Chinese e-commerce has sophisticated algorithms and comprehensive digital management of the production chain, which can quickly "trial and error" to obtain the latest information about the market, adapt to local conditions, and avoid the pressure of warehousing. In the globalized market, this has also made China's manufacturing power expand, from developed countries to backward countries, have become China's new market.
In 2023, China's automobile exports became the world's largest with 5.22 million units, surpassing Japan's, and are expected to usher in a new peak in 2024. At present, in addition to the high-profile electric vehicles, there are also more and more cost-effective and intelligent fuel vehicles, which shine in the world. The war in Ukraine has also become a big help, Russia has faced comprehensive sanctions on Western car companies, and Chinese cars have become substitutes, but to the delight of Russian consumers, Chinese cars are cheap and good, and they have come from behind, comparing European and American cars. Last year, China sold more than 700,000 cars to Russia, and actively opened up the market of Central Asian countries, such as Kazakhstan, Uzbekistan and other countries.
Technology is the core of Chinese enterprises going overseas, from automobiles to cross-border e-commerce, from industrial equipment to software, China's "new three": electric vehicles, lithium batteries, and solar cells, replacing the "old three": clothing, furniture, and home appliances. China's 3D printers were sold last year 3.5 million units.
China not only has an advantage in hardware, but also amazes the world in terms of software, such as China's game software "Genshin Impact" is popular all over the world. Hago interactive gaming software is also opening up in Southeast Asia. In Egypt, China's Boomplay listening app has also won the hearts of many local people. The most surprising thing is that Shenzhen Transsion (Tecno), which originally occupied the mobile phone market in Africa, is cooperating with NetEase to create Vskit, which is equivalent to Douyin on the African continent, which is very popular.
Chinese hot pot chains are also developing in Europe, and spicy hot pot has become a new favorite, conquering the taste buds of Westerners. Xiaolongkan, Liu Yishou, Shu Jiuxiang, etc. are all popular, and these new restaurant groups, from the supply chain to the front-line service, pay attention to digital operations, enhance competitiveness, rather than relying on low prices, some brands even enter the high-end market in Europe and the United States, occupy a place in the very competitive market.
It is precisely the serious involution of the Chinese market that stimulates more and more companies to go overseas, look for a new blue ocean, and avoid the red ocean of China's crowding. But China's internal skills can often be used overseas, replicating the original template, but adapting to local conditions to occupy new market space.
What haunts the West the most is China's short video TikTok and various micro-short dramas, which have set off a new trend. TikTok has become the social media used by the most young people in the United States, overpowering Facebook and Twitter (current name: X), and in the political ecology of the United States, it has become a thorn in the hearts of many anti-China politicians.
In the political circle of Southeast Asia, TikTok is also a platform that affects the election ecology, whether it is Malaysia or Indonesia, both have been greatly influenced by TikTok, and it has also brought huge profits to the parent company ByteDance.
Chinese short dramas adopt the method of vertical shooting, accurately calculate the climax and counter-climax, and follow the familiar routines of Chinese audiences, such as "the date between the domineering president and the beautiful girl" and "the poor boy is discriminated against but succeeds in counterattacking", etc., which shocks the English-speaking world and reaps huge profits.
The latest phenomenon of Chinese enterprises going overseas is that "digital going to sea, going overseas digitally" is based on high and new technology, aiming at various industries, from cross-border e-commerce to automobiles, from 3D printers to ultra-short dramas, showing China's innovative power, transcending political fetters, not afraid of the blockade of the United States and the West, people-oriented, winning the hearts of consumers, and also changing the global emotional map, and ultimately changing the global power map.
It is expected that in 2024, the speed of Chinese enterprises going overseas will accelerate, driving a new wave of globalization. Due to the severe inflation in Western society and the high price of all things, the products made in China are not only cheap, but also have a lot of innovative configurations and applications, which not only meet the needs of the sinking market, but also enter the high-end market, which is unique, like a fire in a cold day, and warms the hearts of many consumers.