On November 21, 2024, the 2024 Forbes China Global Expansion Awards Ceremony was successfully held in Xiamen, Fujian, co-hosted by Forbes China and Fosmos Global.
Senior executives from Forbes China, Fosmos Global, LinkedIn (the strategic partner for global expansion) and The Trade Desk (the digital marketing partner for the event), along with the honorees of the Forbes China Global Expansion Series, gathered to discuss topics such as the evolving phase of global expansion, generational changes, tech-driven globalization, and ecosystem integration. The event aimed to explore ways to create synergy in the global expansion ecosystem, promoting mutual benefits, and to celebrate the winners in a grand awards ceremony.
Qian Houlin, Director of Forbes China Research Institute, and General Manager of Business Operations at Forbes China, said in his speech that Forbes China has been intensifying its research on the global expansion of Chinese enterprises in recent years. With the launch of the Forbes China Global Expansion Series for two consecutive years, the goal is not only to realize the vision of “rooted in China, connected to the world,” but also to provide a clearer narrative of Chinese enterprises’ global expansion. By showcasing representative enterprises and individuals, this initiative leaves an imprint on the global economic and business landscape, while offering new perspectives for those following in their footsteps.
Sun Mingxu, Head of the Forbes China Global Expansion Series Evaluation Committee, mentioned that this year’s selection has highlighted key trends in the global expansion of Chinese companies. Southeast Asia and the Middle East are seeing the fastest growth, while Latin America and Africa are expected to become the next hotspots for high growth. From the “going global” movement of Chinese appliance companies like Haier to the emergence of new energy, cross-border e-commerce, and now tech and service companies expanding globally, Chinese enterprises are transitioning from being participants to leaders in the global arena. Furthermore, more Chinese companies are “born global,” with firms in sectors like digital entertainment and new consumption considering global strategies from their inception.
Wang Qian, General Manager of LinkedIn China, shared the strategic transformation LinkedIn China has undergone since last year. This year marks the tenth anniversary of LinkedIn’s entry into the Chinese market. Over the past year, LinkedIn has fully embraced an “All-in Globalization” strategy, aiming to support Chinese companies with their global expansion in the areas of talent, branding, and organizational development. After a year of efforts, LinkedIn has gained more than 1,000 new customers in the Chinese market, doubling its customer base, which now surpasses the total number accumulated over the past decade. Currently, 76% of the top 100 Chinese companies going global have established deep partnerships with LinkedIn. With over 1 billion members and 67 million corporate clients globally, LinkedIn has become an indispensable platform for helping Chinese companies expand overseas, supporting them as they transition from the “China+1” strategy to the “China+N” global development phase.
Zhang Qingfu, Vice President of Haier’s Overseas Home Appliances Division, delivered a keynote speech. He mentioned that, as one of the first Chinese companies to embark on globalization with its own brand, Haier has always adhered to an independent brand creation strategy and the “three-in-one” approach of localized R&D, manufacturing, and marketing. Through technological innovation, Haier continues to meet the differentiated needs of users worldwide, becoming a beloved localized brand for global customers.
This year’s awards ceremony featured three fireside chat sessions.
The first fireside chat was themed “Generational Transition: From Globalization 1.0 to 4.0,” moderated by Wang Tingting, President of Linkjia Information Technology Co., Ltd. The panelists included Liu Hai, Vice President of Qingdao Beer’s Overseas Business Division, Lei Ling, Head of Global Sales at JD Global, Qian Jing, Global Vice President of Jinko Solar, Gao Yang, Founder of Mala Town, and Zhao Chen, Director of Client Management at The Trade Desk China.
Wang Tingting, President of Linkjia Information Technology Co., Ltd., pointed out that the ultimate test for brands going global is shifting “from need to want.” Exploring market competitiveness, refining social reputation, and enhancing corporate strategy are the key steps to overcoming this challenge.
Liu Hai, Vice President of Qingdao Beer’s Overseas Business Division, mentioned that Qingdao Beer focuses on strengthening its quality foundation, continuously innovating, and activating its international brand communication. The brand strives to establish a high-end image of Chinese “quality manufacturing” in the international market. By driving innovation, it enhances its brand competitiveness and global presence, creating joy in everyday life and becoming a world-class enterprise with a globally influential brand.
Lei Ling, Head of Global Sales at JD Global, revealed that JD’s expansion in Europe has adopted a combination of online and offline strategies. The platform and warehousing have been integrated with JD’s years of accumulated automation technology and retail systems, extending to product, supply chain, procurement, and fulfillment. The essence of the internet and retail is cost, efficiency, and experience. Only by continually focusing on these three aspects can a company survive in a highly competitive environment.
Qian Jing, Global Vice President of Jinko Solar, mentioned that no other country in the world has a supply chain as complete, well-supported, and with such skilled and diligent workers as China. For Chinese companies manufacturing overseas and shifting production capacity abroad, it is extremely challenging to maintain the same level of excellence as in China. The experience of going global is that companies need to establish diversified and flexible supply chains, choose locations near the coast for easy transportation, encourage key suppliers to expand globally together, cultivate local ecosystems, and adopt a light-asset export model, focusing on exporting technology, experience, and capabilities.
Gao Yang, Founder of Mala Town, mentioned that in terms of overseas market expansion, unlike Yang Guo Fu’s Mala Tang, the reason for establishing a new Mala Tang brand was to differentiate target groups, test new models, and utilize tools like AI and the internet to improve efficiency, ultimately addressing pain points in operational processes. Going global requires a steady and solid approach, being prepared for a long battle.
Zhao Chen, Director of Client Management at The Trade Desk China, stated that looking at the history of global marketing development and the experience of many well-known century-old enterprises, it is clear that brand strength, at any time, is the key to a company’s survival and success.
To build brand strength, it is essential to enhance omni-channel integrated marketing through an open internet advertising ecosystem, delivering compelling brand stories that resonate with consumers, creating emotional connections, and establishing a “high-quality” brand image. At the same time, data capabilities will become the core of brand competition. It is crucial to make data-driven marketing decisions, especially by combining first-party and third-party data for advertising campaigns. This not only helps companies break free from the limitations of relying solely on traffic but also enhances brand value, laying a solid foundation for long-term development.
The second fireside chat was themed “Shining Globally: From World Factory to Innovation Hub,” moderated by Fang Ling, Co-founder and Chief Operating Officer of CGL. Panelists included Chen Yunxiang, Head of Business Development at Mobileye China, Wang Wei, General Manager of LinkedIn China’s Talent Solutions for Global Hiring, and Meng Xiao, President of MAXHUB Overseas Group.
Fang Ling, Co-founder and Chief Operating Officer of CGL, mentioned that innovation is the passport to globalization, and collaboration is the golden key to win-win outcomes. Technological innovation guarantees competitiveness, allowing companies to stand out internationally.
Chen Yunxiang, Head of Business Development at Mobileye China, pointed out that during the transformation from a world factory to an innovation hub, technological innovation is the true invisible driving force. Only when the wheel of technological innovation starts turning actively can the transition to an innovation hub be achieved; otherwise, the so-called innovation hub is merely superficial. As a company that has innovation embedded in its DNA, Mobileye spares no effort in driving innovation and transforming road safety. Leveraging the momentum and foundation of technological innovation, Mobileye’s globally unique pure-vision City NOA solution was first launched in the Chinese market, with Chinese automotive OEMs being the first to deploy and adopt it.
Wang Wei, General Manager of LinkedIn China’s Talent Solutions for Global Hiring, mentioned that the talent big data insights developed a few years ago are greatly strengthening global companies’ business and talent decision-making based on data. LinkedIn’s AI innovations are thriving, continuously empowering enterprises through AI-driven talent recruitment, training, and more, thus injecting power into corporate innovation. His advice for companies going global is that decisions must be data-driven, and overseas recruitment must be localized to achieve the integration of Chinese companies with local cultures.
Meng Xiao, President of MAXHUB Overseas Group, stated that MAXHUB is formed by combining “MAX” and “HUB,” symbolizing the “maximum center.” It is a highly integrated intelligent collaboration platform that helps maximize organizational efficiency. On the global path of brand building, technological innovation, operational compliance, and sustainability, MAXHUB has always adhered to the principle of enhancing connectivity through integration and collaboration—improving the efficiency of connections between people, people and organizations, and organizations themselves. The strategy of “alliances and cooperation” is not only the guiding principle of its globalization strategy but also the core of the company’s enduring international competitiveness.
The theme of the third fireside chat was “Synergistic Integration: Systematically Empowering Ecosystems for Global Expansion,” moderated by Li Yanyi, Founder of Nuwa Marketing. The panelists included Song Yingqiao, Vice President of Alibaba Cloud Intelligence International, Yang Ya, Senior Vice President of Easy Point Technology, Lin Yi, Vice President of Yunqu Logistics Technology Group, and Yu Xiang, Vice President of Merchant Success at EBANX Asia Pacific.
Song Yingqiao, Vice President of Alibaba Cloud Intelligence International, emphasized that cloud and AI have become the core engines for enterprises’ digital intelligence transformation. Alibaba Cloud, through its globally secure and compliant cloud services, and in collaboration with the “Orange Cloud Overseas Service Alliance” ecosystem partners, is helping Chinese companies efficiently expand overseas. Building a successful ecosystem requires a deep understanding of customer needs, precise market positioning, and collaboration with localized service partners to achieve resource sharing and complementary advantages, thereby creating a mutually beneficial ecosystem that accelerates enterprise growth and development.
Yang Ya, Senior Vice President of Easy Point Technology, believes that Chinese companies must build a networked strategy during their globalization process. They must agilely acquire firsthand market information in business expansion, collaborate with ecosystem partners, and jointly respond to challenges, thereby forming an open, win-win, and long-term value-oriented ecosystem partnership.
Lin Yi, Vice President of Yunqu Logistics Technology Group, pointed out that the most important aspect of ecosystem empowerment for global expansion is “rhythm adaptation.” Only when both parties’ development rhythms align can they grow together and mutually achieve success. Ecosystem empowerment starts with solidifying one’s core capabilities and then flexibly adjusting according to market demands, allowing for steady and deep participation in global trade.
Yu Xiang, Vice President of Merchant Success at EBANX Asia Pacific, stated that according to EBANX data, the Latin American digital market is expected to exceed 1 trillion USD by 2027, with an annual compound growth rate of 20%. As a core force in Latin American digital commerce, the Brazilian market reached a size of 277 billion USD last year, with a large number of global digital buyers, providing significant opportunities for Chinese companies expanding overseas.
In the subsequent keynote session, Xie Weishan, Chairman of Junzhi Strategic Consulting, delivered a speech. He mentioned that, in the face of the ever-changing global market environment, Junzhi’s “New Generation Strategy” combines the strengths of both Eastern and Western approaches and adapts to dynamic changes. This strategy helps companies gain strategic initiative and achieve victory in global markets amidst dynamic competition. In 2024, Junzhi reached a record high in the number of clients served, with a client renewal rate of 100%. Over the past seven years, it has helped seven companies break through 10 billion in revenue, becoming a global leader in the industry.
During the awards ceremony, senior executives from Forbes China and Fosmos Global presented awards to the honorees of the “2024 Forbes China Global Expansion Leaders TOP 30,” “2024 Forbes China Global Expansion Flagship Brands TOP 30,” and “2024 Forbes China Global Expansion Leading Brands TOP 30.” Additionally, two special awards were presented: the “2024 Forbes China New Generation Strategy Globalization Pioneer Award” and the “2024 Forbes China Global Expansion Outstanding Trend Community Platform of the Year.”
During the dinner session, Sun Mingxu, Head of the Forbes China Global Expansion Series Evaluation Committee, Zhao Chen, Director of Client Management at The Trade Desk China, Zhang Fei, General Manager of LinkedIn China’s Talent Solutions New Business Development Department, Qian Haiming, Chairman and CEO of Zhonglian Materials, Zhang Li, Co-founder and Vice President of Hanshuo Technology, Wang Yan, Board Secretary and Vice General Manager of Public Relations at Hutchison Hanlin, Xu Guolin, Vice President of Times Star Energy Storage Division, and Wang Quan, Chief Marketing Officer of Zhejiang Chint New Energy Development Co., Ltd., all delivered speeches.
Zhao Chen, Director of Client Management at The Trade Desk China, stated: “In this year’s Forbes ‘Global Expansion 30 & 30’ list, we have seen many outstanding global expansion brands. The Trade Desk will work hand in hand with these brands, navigating through challenges together, and helping Chinese brands achieve their global branding dreams.”
Zhang Fei, General Manager of LinkedIn China’s Talent Solutions New Business Development Department, said, “In the wave of globalization, the journey from exporting to going global and then to full globalization has become an unstoppable trend. However, the road to the world is still full of challenges. LinkedIn hopes to leverage its global data of 1 billion members and powerful AI capabilities to help Chinese companies build global talent teams and internationally influential brands. For global expansion, building teams, creating brands, and finding customers, LinkedIn is the platform to go to!”
Qian Haiming, Chairman and CEO of Zhonglian Materials, shared two words: one is “steel,” which he described as the food of industry, the skeleton of cities, and something that can be recycled and reused; the other is “service,” which he defined as an intangible product that represents the maturity of an entire industry and a nation.
Zhang Li, Co-founder and Vice President of Hanshuo Technology, introduced that Hanshuo Technology is a leader in global retail digital store solutions. With a focus on technological innovation and customer-centricity, it has built a comprehensive strategic ecosystem. Not only is it committed to promoting the digitalization of retail stores, but it also leads in the development of in-store retail media networks and retail store digital energy. Hanshuo Technology’s solutions have served over 400 clients across more than 50 countries and regions, showcasing Chinese wisdom and international responsibility, with a commitment to green digitalization and driving sustainable development in the industry.
Wang Yan, Board Secretary and Vice General Manager of Public Relations at Hutchison Hanlin, stated that for biopharmaceutical companies, going global is both a challenge and an opportunity. The global expansion strategy allows companies to refine their internal capabilities through real-world practice, whether it’s building a global R&D platform, establishing a production platform, creating a quality system that meets international standards, or managing global supply chains. The development of these capabilities will enable companies to better compete globally in the future.
Xu Guolin, Vice President of Times Star Energy Storage Division, mentioned that as a company under CATL, dedicated to global new energy solutions, Times Star Energy Storage realized during its global expansion that the challenges of global market diversification are growing. It is necessary to strengthen the development of markets in Africa, Southeast Asia, and the Middle East, while solidifying its presence in Europe and North America. The company looks forward to expanding the global market in collaboration with partners in the energy storage business.
Ding Xiaoyin, Founder and CEO of Qi Fang Entertainment, stated that the company primarily focuses on movie exports, which is a niche market within the mass goods sector. He hopes that while promoting their own company’s products and technologies for global expansion, overseas companies will also support the local performance of Chinese films.
Wang Quan, Chief Marketing Officer of Zhejiang Chint New Energy Development Co., Ltd., discussed that since its founding 40 years ago, Chint has consistently adhered to the “go global” strategy—starting from export trade to overseas investment and factory establishment, and later expanding to providing turnkey projects and power services. The company has successfully implemented a localized global expansion strategy in international markets.
In the new wave of global expansion, Chinese global brands are both boundary breakers and brand reshapers. The honorees of the Forbes China Global Expansion Series will lead more Chinese companies to set sail on the world stage, contributing China’s wisdom and strength to the prosperity and progress of the global economy, and collectively writing China’s story in the age of global exploration.
About Forbes China
Forbes was founded in 1917 in New York with the slogan “Entrepreneurship, Wealth Creation Tools.” It has become an industry leader with its entrepreneurial spirit and innovative mindset. The lists created by Forbes are known as “The Barometer of the Economy” and “The Compass of Wealth.” In 2003, Forbes officially entered the Chinese market.
As a business media brand centered around innovation, Forbes China upholds the DNA of “entrepreneurship, innovation, and wealth creation.” Through long-term observation and research in fields such as high-net-worth individuals, entrepreneurs, technology, investment, health, and lifestyle, Forbes China has launched a series of influential lists and content that have a significant impact on the economy and society. The fairness and impartiality of Forbes China’s rankings have made them benchmarks in various fields, while its insightful content provides multidimensional information to readers, inspiring entrepreneurs and business elites to create more wealth and business value. At the same time, Forbes China is dedicated to building an interactive community for high-end clients, providing a forward-thinking, shared environment, and constructing an information ecosystem for entrepreneurship and innovation.
About Fosmos Global
Fosmos Global was founded in 2021 by a group of global Chinese venture capitalists, with headquarters in Singapore and Nanjing. The company is dedicated to discovering and nurturing entrepreneurs with cross-cultural backgrounds and global capabilities, aiming to build a sustainable business incubation ecosystem.
Over the past three years, Fosmos Global has conducted original research projects in collaboration with leading media and academic institutions, such as Forbes China, and has initiated research in emerging fields. The company has created renowned and authoritative evaluation systems, including the Chinese Elite Series, Young Overseas Returnee Elite 100, Web 3.0 Innovation Pioneers, and Global Expansion 30&30.
About LinkedIn
LinkedIn, as a global leading professional networking platform, was founded in 2003 and is headquartered in Silicon Valley, USA. LinkedIn’s vision is to create economic opportunities for every one of the 3 billion workers globally. As of January 2024, LinkedIn has surpassed 1 billion members, covering over 200 countries and regions. LinkedIn announced its entry into China in 2014 and has continued to provide high-quality localized products and services. In May 2023, LinkedIn adjusted its strategic focus in the Chinese market, concentrating on helping Chinese companies with overseas talent recruitment, brand marketing, and skills training. Through LinkedIn’s talent, marketing, and learning solutions, LinkedIn continues to support the global development of Chinese enterprises, helping them achieve the goals of internationalizing talent, globalizing brands, and promoting lifelong learning.
About The Trade Desk
The Trade Desk is an ad tech company that provides cross-channel programmatic advertising services to buyers. Headquartered in California, USA, The Trade Desk works with over 225 data, traffic, and brand safety partners to provide one-stop solutions for global marketing, efficiently reaching global audiences and enhancing brand influence.
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