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Chinese firms more confident, skillful in foreign markets
By Hu Xiaocen |
January 23, 2013, Wednesday
|
Online Edition
Online Edition
CHINESE companies showed bigger appetite and better negotiation skills in doing business and building their images overseas, a private survey showed today.
About four in every five Chinese-owned multinationals surveyed by HSBC are planning new overseas expansions, HSBC Asia Pacific said in a report today.
"It is a reflection of the continued positive sentiment of Chinese companies who are confident in their ability to expand internationally, despite the economic climate overseas," Noel Quinn, head of commercial banking for HSBC Asia Pacific, said.
Though price remains the key advantage of the Chinese companies, they are no longer relying solely on the ability to compete globally based on lower costs. Solid financial strength and advanced technology and production lines are their top strengths, the lender said.
The main motivations for Chinese enterprises venturing into foreign markets are the ease of trade and market expansion. Almost half of the companies interviewed said their overseas expansion is in pursuit of a better brand image.
The lender said it surveyed more than 200 Chinese companies with overseas operations.
About four in every five Chinese-owned multinationals surveyed by HSBC are planning new overseas expansions, HSBC Asia Pacific said in a report today.
"It is a reflection of the continued positive sentiment of Chinese companies who are confident in their ability to expand internationally, despite the economic climate overseas," Noel Quinn, head of commercial banking for HSBC Asia Pacific, said.
Though price remains the key advantage of the Chinese companies, they are no longer relying solely on the ability to compete globally based on lower costs. Solid financial strength and advanced technology and production lines are their top strengths, the lender said.
The main motivations for Chinese enterprises venturing into foreign markets are the ease of trade and market expansion. Almost half of the companies interviewed said their overseas expansion is in pursuit of a better brand image.
The lender said it surveyed more than 200 Chinese companies with overseas operations.
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