Enterprises urged to sharpen biz edge

Despite escalating geopolitical tensions, rising economic uncertainties and increasing protectionist actions, Chinese enterprises should sharpen their competitive edge, embrace global cooperation, and contribute to a more stable and prosperous global economy, officials and executives said on Thursday.

As Chinese companies compete globally, it is not only about using their growth to strengthen China, but also about serving the higher purpose of benefiting the entire world, they added at the Chinese Enterprise Global Image Summit in Beijing — the twelfth edition of its kind.

As Chinese companies have rapidly expanded their global footprint in recent years, they have not only effectively promoted sustainable development worldwide, but also increasingly become bridges facilitating cultural exchanges and mutual learning between China and other nations, said Du Zhanyuan, president of China International Communications Group.

In 2023, China's outbound direct investment rose 8.7 percent to reach $177.3 billion, accounting for 11.4 percent of the global total and ranking among the top three for 12 consecutive years, data from the Ministry of Commerce showed.

That said, Chinese enterprises are facing severe challenges in their globalization efforts and image-building due to the profound changes in the international landscape, Du said, stressing that it is crucial for Chinese enterprises to intensify their efforts to tackle core technological bottlenecks in key areas and develop new quality productive forces.

Enterprises that can consistently deliver high-caliber offerings will be best positioned to thrive in the global marketplace, said Qiu Xiaoping, vice-chairman of the All-China Federation of Industry and Commerce.

Chinese enterprises should embrace next-generation information technologies like big data, cloud computing and artificial intelligence to strengthen innovation in products, services, and business model — all with the goal of laying a solid foundation for their global image through high-quality growth, Qiu said.

In the Global Innovation Index ranking of 130-plus economies, China has reached the 11th position, making it one of the fastest 10-year climbers, according to a report released by the World Intellectual Property Organization in September.

Luo Lin, vice-president of WeRide, a Chinese autonomous vehicle startup, said that the company has been providing smart mobility solutions to multiple countries around the world by leveraging its proprietary research and development capability as well as extensive public road operation experience.

In the process of localized deployment and collaboration, WeRide is not only able to help its partners establish the necessary legal and regulatory frameworks for autonomous driving, but also facilitate the aggregation and upgrading of the global industrial chain, Luo said.

Since 2021, WeRide has partnered with local collaborators in the United Arab Emirates to launch publicly accessible commercial autonomous vehicle services in Abu Dhabi, making it the Middle East's first city with self-driving taxis.

Through continuous collaboration with local and global partners, WeRide has not only expanded its own international footprint, but also catalyzed the rapid development of artificial intelligence and autonomous driving industries in its partner regions, Luo added.

This is the ultimate destination Chinese enterprises should strive for — to be a force for good that benefits all of humanity. It is a vision they will relentlessly pursue when taking their place on the global stage, said Zhang Yiwu, a professor at Peking University.