A worker engaging in producing component products at a factory in Hangzhou, Zhejiang Province on February 25. 2025./ CFP
Editor's note: Tang Jie is a researcher at the Chinese Academy of International Trade and Economic Cooperation under the Chinese Ministry of Commerce. The article reflects the author's opinions and not necessarily the views of CGTN.
With their flexibility and innovation, Chinese private enterprises have become an important force in promoting the globalization of China's economy. Their process of expansion from local to global reflects the characteristics of the era of the deep integration of the country's economic transformation and globalization.
At a time when the tide of anti-globalization and technological revolution is intertwined, private enterprises are facing competitive pressure from traditional multinational companies and new challenges brought about by geopolitical reconstruction. They are not only the pioneers of global layout, but also the promoters of technological innovation, industrial chain integration and international cooperation. They have injected new momentum into the global economy and demonstrated the vitality and resilience of the Chinese economy.
The primary strength of private enterprises is the basic productivity obtained through cultivation of the local market, including unique products, technologies and business models, as well as valuable practices and lessons learned in China—known as a super economy and the largest market.
Considering the uncertainty of the current global economic environment, private enterprises need to respond more flexibly. It is crucial for them to formulate clear internationalization strategies, carry out cross-border cooperation and adopt some outward-looking economic strategies. These strategies may involve choice of export models, establishing overseas bases or using cross-border e-commerce to expand their business territory, etc. Because, in some sense, the "micro-multinational corporations" phenomenon spawned by cross-border e-commerce platforms is rewriting the rules of globalization.