Industry Overview - The cross-border payment industry is experiencing high growth and strong competition as more Chinese companies expand overseas, with the global market expected to reach $240 billion in 2024, a 12% year-on-year increase [1] - The trend of "fragmentation" in China's export trade is emerging, with small and dispersed orders replacing traditional large orders, contributing over 60% of China's export volume from millions of small and micro foreign trade enterprises [2] Challenges for SMEs - A study in 2023 revealed that 83% of SMEs prefer using SaaS platforms and online trading platforms for financial services, facing challenges such as high wire transfer fees, slow transaction times, and significant currency losses compared to larger companies [3] Industry-Specific Insights - New industries, such as gaming and live streaming, are joining the trend of going global, each facing unique challenges. For instance, gaming companies prioritize transaction stability due to the rapid influx of business from hit games [4] - Airwallex, a cross-border payment unicorn, reported a transaction volume exceeding $130 billion in 2024, with a valuation surpassing $5.6 billion, serving over 150,000 clients globally, including well-known companies like SHEIN and Qantas [4] Payment Efficiency - Airwallex claims to achieve 90% of transactions settled on the same day and over 60% in real-time, significantly outperforming traditional banking networks [4][14] - The company has reduced withdrawal costs for live streamers from $50 per transaction to as low as $1 or $2, enabling quicker access to funds [5] Global Market Expansion - Airwallex has obtained payment licenses in over 60 countries and regions, positioning itself as one of the leading fintech companies with the most licenses globally. The company is actively expanding in Brazil, UAE, Saudi Arabia, France, and Japan to meet diverse regional demands [16] - The Americas market is projected to see business growth exceeding twofold by 2025, with similar growth expected in Europe, the Middle East, and Africa [17]

以下文章来源于地球知识局 ，作者地球知识局 地球知识局 . 人文+地理+设计，全球视野新三观。 合作请联系：xiaobaibai_9999（注明品牌和需求） 将投中网设为"星标⭐"，第一时间收获最新推送 印尼电商的发展，与中国有着千丝万缕的联系。 作者丨 山海图正星星 编辑丨 同同 来源丨 地球知识局 最近一两年，无论是618、双十一还是各种各样买东西的日子，都越来越冷清了，甚至晚会也停办了、战报也不发了，大家的消费热情逐渐理性（退 却）。国内电商似乎进入了无解的瓶颈期。 与之形成鲜明对比的是，东南亚电商正在风风火火地发展。根据Momentum Works的报告，2023年印尼电商的商品交易总额已经达到了538亿美元， 已是东南亚最大的电商市场。 其实在11年前，印尼电商市场还名不见经传，现在的巨头Shopee 还有一年才成立，Lazada也只是成立两年的创业公司 。彼时的市场规模只有6亿美 元。任谁也想不到，11年后印尼的电商市场规模能翻90倍。 印尼电商的发展，与中国有着千丝万缕的联系。 印尼电商，离不开中国货 印尼的制造业并不是非常发达，主要集中在纺织、电子、木材加工、造纸、食品、饮料等行业中。虽然能生 ...

Investment Rating - The report maintains a "Buy" rating for several companies within the industrials sector, including BYD, CCCC, Yutong, and others, indicating a positive outlook on their performance and growth potential [6]. Core Insights - The analysis highlights the driving factors behind China's direct trade surplus with the US, noting that consumer durables, technology, industrials, and automotive sectors are key contributors. The overall trade surplus has narrowed since 2019 due to US-China trade tensions, particularly affecting consumer durables and technology [3][9]. - The report emphasizes the significant increase in China's indirect exports to the US via ASEAN and Latin America, with technology and consumer durables being major contributors to the widening US trade deficits with these regions [4][33]. - Investment trends show a 66% increase in Chinese companies' investment plans in ASEAN, with a focus on electronic components, lithium batteries, and auto parts, particularly in Thailand and Vietnam [5]. Summary by Sections Direct Trade Surplus with the US - China's trade surplus with the US has narrowed since 2019, with consumer durables and technology seeing the most significant declines due to increased tariffs. In contrast, the industrials and automotive sectors have experienced a widening surplus [3][13]. - The largest incremental trade surplus in 2024 compared to 2018 was recorded in the smartphones, battery & material, and pharmaceutical sectors [27]. Indirect Exports via ASEAN and LatAm - The US trade deficits with ASEAN and LatAm have expanded significantly from 2016 to 2024, driven by increased imports of technology and consumer durables from these regions [4][33]. - The automotive industry has notably contributed to the increase in China's export value to LatAm, aligning with the US's growing imports from that region [4][37]. Investment Trends - Chinese firms' investment plans in ASEAN increased by 66% year-over-year in 2024, with Thailand attracting 44% of total investment plans. Investment in Mexico rose by 85%, primarily driven by the automotive sector [5]. - The report identifies BYD, CCCC, and Yutong as preferred beneficiaries of the "going global" strategy, highlighting their strong market positions and growth potential [6].

Core Viewpoint - The article discusses the evolution of Chinese companies' globalization strategies, emphasizing the transition from merely exporting products to becoming integral participants in local cultures and economies, highlighting the importance of localization and cultural integration in international business [1][3][15]. Group 1: Globalization Challenges - The article identifies three major challenges faced by Chinese companies in the era of globalization 3.0: geopolitical changes, technological shifts, and cultural transformations [3][4][5]. - Geopolitical changes include trade uncertainties due to tariffs imposed by the U.S., prompting companies to adopt a "China + n" strategy [3]. - Technological shifts involve the impact of AI and the need for companies to balance technological innovation with supply chain restructuring [4]. - Cultural transformations require companies to transition from being mere product exporters to becoming active participants in local cultures, necessitating a deep integration into local ecosystems [5]. Group 2: Recent Trends in Globalization - In 2023, China's outward direct investment flow reached $177.29 billion, marking an 8.7% increase from the previous year, maintaining its position among the top three globally for 12 consecutive years [10]. - The current wave of globalization for Chinese companies is shifting from market expansion to ecological reconstruction, indicating a need for companies to evolve from being "global factories" to "global innovation networks" [10][11]. - The article emphasizes the importance of building new supply chain systems abroad, with companies taking their entire industrial chain overseas [11]. Group 3: Support for Globalization - The article highlights that the current wave of globalization involves not only large enterprises but also a significant number of medium-sized and small enterprises, which face unique challenges [13]. - It stresses the need for external support and collaboration for smaller companies, contrasting their resource limitations with the greater capabilities of larger firms [14]. - The upcoming summit will focus on the role of various stakeholders, including industry leaders and experts, in supporting these companies during their globalization efforts [14]. Group 4: Cultural Integration - The article discusses the cultural clashes that arise when Chinese companies operate abroad, citing examples of misunderstandings in work ethics and management styles [15]. - It emphasizes the need for Chinese companies to approach globalization with a mindset of rationality and constructive engagement, rather than aggressive expansion [15]. - The ultimate goal for these companies is to become nodes within a global civilization network, participating in the creation of new rules rather than merely exporting their standards [15].

重阳说 查理·芒格先生有一句广为流传的话："我这一生当中，未曾见过不读书就智慧满满的人。没有。一个都没 有。沃伦（巴菲特）的阅读量之大可能会让你感到吃惊。我和他一样。我的孩子们打趣我说，我就是一 本长着两条腿的书。" 熟悉重阳的朋友们一定知道，阅读，一直是我们非常推崇的成长路径。 现在，我们希望和你一起，把阅读这件事坚持下去。 每一期专栏，我们依旧聊书，可能是书评、书单或者书摘。 每一期会有一个交流主题，希望你通过留言与我们互动。 我们精选优质好书，根据留言质量不定量送出。 世界莽莽，时间荒荒，阅读生出思考的力量，愿你感受到自己的思想有厚度且有方向，四通八达，尽情 徜徉。 提示：本公众号所发布的内容仅供参考，不构成任何投资建议和销售要约。如您对重阳产品感兴趣，欢 迎 扫码 咨询。 【好书】第277期：《 大出海：中国制造全球出征的关口和突破 》 林雪萍 著 中信出版集团 推荐人 营销编辑钟筏童 2025年1月 互动话题：结合本书，请谈谈你对中国企业出海的看法。 留言时间：2024年3月12 日 - 2025年 3月19日 （鼓励原创，只要你的内容足够优秀，期期选中也有可能哦） 筛选及书籍寄送：2025年3月2 ...

近年来，中国企业"走出去"的步伐明显加快，而企业一旦出海，势必会面临国际市场环境复杂、全球政 治经济波动等不确定因素，需提前筹备应对风险。 因此，对于有意出海的中国企业，在制定出海战略时，选择合适的出海路径就显得尤为重要， 常见的 出海方式有 ： 市场调研 考察目标国的市场潜力、当地的政策文化与商业环境 | | 发改委 | | 商务部 | | | --- | --- | --- | --- | --- | | 间接投资 | 3亿美元以上 | 告知国家发改委 | 中央企业 | 国家商务部备案 | | | 3亿美元以下 | 无申报义务 | | | | 直接投资 | 3亿美元以上/ | 国家发改委备案 | 地方企业 | 省级商委备案 | | | 中央企业 | | | | | | 3亿美元以下 | 省级发改委备案 | | | 其中，直接投资又分为 绿地投资 和 褐地投资 两种方式： 绿地投资 1 是什么 ： 对外直接投资，以新设主体经营业务 2 怎么做： "ODI备案"小贴士 企业内部决策 特别注意，国企须有相应国资监管部门许可 外部审批 ODI审批 、银行与外管局备案等 主体设立 按照当地法律准备相应注册材料 | ...

12 / 20 7 泽平宏观 1 9 : 0 0 中国·深圳 士泽亚 a 始 再出友 2025 | 来预测 好 > 花 * 下 下 战略合作伙伴 INVITATION 邀请函 亲爱的朋友们： 我们这个时代，不仅是变化，堪称巨变。 逆全球化潮涌，地缘动荡加剧，特朗普重返白宫，以人工智能和新能源为代表的第四 次科技革命如火如荼，企业千帆竞发出海全球，中国拉开大规模经济刺激计划的序幕，公 共政策全力拼经济，促进房地产止跌回稳，股市"信心牛"一波三折，新质生产力被寄予厚 望 ...... 在这个巨变的时代，光有勤奋还不够，比勤奋更重要的是顺势而为。不要用战术上的 勤奋，掩盖战略上的懒惰。 像马斯克、 黄仁勋 、张一鸣、 雷军、王传福 这些新一代 企业家的领军人物 ，我认为 除了勤奋，更重要的是 抓住了时代的机遇。 打个比方，大家都是跑步，你在正确的方向上跑步，就好像在高铁上跑步一样，自带 200公里时速。200公里时速是什么？就是时代给你的机会。 中国企业出海元年到来，千帆竞发，航行到全球的哪里？机会是什么？ 每年底，我们需要拿出一些时间，静下心来，思考更长远的事情，看清未来的趋势， 制定新一年的战略。 诚邀您参加我 ...