The Most Anticipated Directions for Overseas Expansion in the Second Half of 2024 Hosted by EqualOcean "2024 GoGlobal Forum of 100, Shanghai" and "Overseas Insight Forum" will Be Held on December 19, 2024, in Shanghai!
Under the macro pattern of global economic integration, it has become an unstoppable trend for Chinese enterprises to go overseas. With the continuous and steady rise of China’s outward direct investment, numerous enterprises are focusing on overseas markets. According to statistics from the Ministry of Commerce and the State Administration of Foreign Exchange, from January to June 2024, China's outward direct investment in all industries reached 606.07 billion yuan, a year-on-year increase of 16.1%. Among them, Chinese domestic investors carried out non-financial direct investment in 5,532 overseas enterprises in 152 countries and regions around the world, with a cumulative investment of 515.97 billion yuan, an increase of 19.5%. As of 2023, China's outward direct investment in all industries has maintained a growth trend for four consecutive years. These data fully demonstrate that the wave of going overseas is spreading rapidly across the country with strong momentum.
In 2024, Chinese overseas enterprises are characterized by accelerated development and strong resilience. In specialized areas, innovative drugs have achieved remarkable results in "going global," with dual-antibody drug transaction amounts exceeding 14 billion yuan. Games and cross-border e-commerce are making strong advances, with the domestic game "Black Myth: Wukong" sparking an overseas craze, and the "Four Little Dragons" of cross-border e-commerce actively expanding markets through different strategies. Tea and coffee brands have expanded smoothly overseas, with Heytea and Cotti leading China's tea and coffee power onto the world stage.
From the perspective of future development trends, the global market shows a multi-point bloom. Emerging markets such as Southeast Asia, Latin America, the Middle East, and Africa are particularly attractive to Chinese overseas enterprises, prompting strategic adjustments. Developed markets such as Europe, North America, Japan, and South Korea support Chinese enterprises in optimizing resource allocation globally, driving continuous innovation and upgrading, and becoming key support points for Chinese enterprises to achieve global development and step onto the international stage.
Europe, as a high ground for brand value, technological innovation, and a regulated market, provides Chinese enterprises with precious opportunities to enhance brand awareness, access advanced technologies, and explore emerging fields in green and digital areas. The trend of products in the European market is moving toward mid-to-high-end. Some enterprises are promoting localized production and operations in Europe, which reduces transportation costs, improves supply chain efficiency, and better meets local market demands. This also helps respond to European trade policies and environmental requirements. However, localized production faces challenges such as rising labor costs and imbalanced labor supply during peak and off-peak seasons. Enterprises must plan supply chain layouts from a long-term perspective. Despite certain progress made by Chinese enterprises in the European market, they still face numerous challenges, such as further enhancing brand awareness, overcoming the entry barriers posed by European consumers' brand loyalty, and navigating differences in cultural and consumption habits between countries, as well as strict regulations and standards.
The North American market has a large scale, a developed economy, and well-developed infrastructure, helping Chinese enterprises expand their business scale and seize opportunities for industrial upgrading and transformation. The North American market is characterized by strong purchasing power and large-scale demand for various products and services. For example, the sales of household appliance brands like TCL and Hisense have increased year by year in the North American market, benefiting from local market demand. However, in recent years, the U.S. government has implemented a series of trade protectionist policies, such as raising tariffs and setting trade barriers, which have hindered the export of Chinese enterprises to the North American market. Moreover, significant differences in culture and laws, as well as intense competition, are issues that Chinese enterprises must carefully consider when entering the North American market.
The Japan and South Korea markets have strong consumption power, outstanding R&D capabilities, convenient logistics, and high brand recognition. They offer significant opportunities for Chinese enterprises to break through technological bottlenecks, enhance international brand influence, reduce talent costs, and optimize logistics costs. Some Chinese consumer electronics brands, with high cost performance, advanced technology, and ever-improving quality, are gradually gaining recognition in the Japan and South Korea markets. For example, in Q2 2024, Xiaomi had a 6% market share in Japan, and its Redmi 12 ranked among the top three best-selling models in the Japanese market in July 2024. However, local consumer electronics brands in Japan (Sony, Panasonic) and South Korea (Samsung, LG) have strong competitive advantages in brand influence and technological R&D. Chinese enterprises must make continuous efforts in brand building and technological innovation to enhance their competitiveness in these markets.
To further explore new opportunities and challenges in overseas markets, the GoGlobal Think Tank EqualOcean will host the "Overseas Insight Forum" in Shanghai on December 19, sincerely inviting entrepreneurs in the global direction of overseas expansion to gather together to share first-hand insights from different continents, uncover the mysteries of overseas markets, and conduct an in-depth analysis of the most authentic overseas market environment.
Agenda
9:15-9:30 Report Release
2024 EqualOcean Regional Country Report Release
9:30-9:50 Keynote Speech
Which Enterprises Are Suitable to Go Overseas to Europe?
9:50-10:40 Roundtable Discussion
The Middle East – The Next Southeast Asia for Chinese Enterprises Going Global?
10:40-11:30 Roundtable Discussion
Japan and South Korea – The Road to Wealth Creation by Reversing the Trend in Japan and South Korea
11:30-14:00 Overseas Insight CXO Themed Lunch
14:00-14:20 Keynote Speech
The Battle of North American Overseas Expansion
14:20-15:10 Roundtable Discussion
Latin America – More Than Just Mexico
15:10-16:00 Roundtable Discussion
Southeast Asia – Already a Red Ocean?
The "Overseas Insight Forum" is a parallel forum of the "2024 GoGlobal Forum of 100, Shanghai" (GGF2024 Shanghai). It is expected to attract over 3,500 participants, with 75% of attendees at the executive level or above.
EqualOcean’s Plan for the Second Half of 2024
GoGlobal Institute (GGI): Focused on hot destination countries for Chinese overseas enterprises.
GoGlobal Academy (GGA): Offers training and certification for talent interested in overseas business.
GoGlobal Community of 100 (GGC100): A high-level social network for overseas entrepreneurs, investors, and scholars.
Media and Events: EqualOcean's website and forums have a strong influence in the field of overseas expansion.
Huang Yuanpu Channel: The EqualOcean co-founder plans to release a new book, "Where to Go Overseas," with live interviews, city book tours, and on-site investigations in 2024.