Group 1 - On May 27, two significant events occurred in the agricultural and animal husbandry industry: Muyuan Foods submitted its IPO application for the Hong Kong stock market, and New Hope's chairman Liu Chang mentioned the "going overseas" strategy for feed [2][3] - Muyuan Foods aims to expand its international presence through its IPO, with plans to establish localized R&D centers and production bases in markets with high growth potential [3][4] - New Hope's international strategy includes not only the upstream feed industry but also other supporting aspects of the supply chain, with plans to expand its production capacity in Indonesia and other Southeast Asian countries [6][7] Group 2 - Muyuan Foods is the world's largest pig farming company by production capacity and has seen its global market share increase from 2.6% in 2021 to 5.6% in 2024 [3][4] - The company plans to use funds raised from its IPO to further its international strategy, enhance R&D, and improve operational efficiency [4] - New Hope's overseas revenue reached 20.03 billion yuan in 2024, accounting for 19.44% of its total revenue, making it the highest overseas revenue in the pig farming industry [8]

Core Viewpoint - Chinese companies are transitioning from merely exporting products to establishing brands and conducting research overseas, particularly in sectors like renewable energy, electric vehicles, and high-tech products, amidst a complex global economic landscape [1][30][31]. Group 1: Challenges and Opportunities for Chinese Companies Going Global - The EU's policies aimed at achieving carbon neutrality by 2050 create significant market opportunities in solar energy and storage, but Chinese companies face high entry barriers and costs when expanding into these markets [2][3][24]. - The Regional Comprehensive Economic Partnership (RCEP) offers Chinese companies reduced trade barriers and easier market access, yet challenges such as policy continuity and supply chain completeness remain [5][6][26]. - Companies are advised to adopt both horizontal and vertical strategies for international expansion, focusing on deepening their presence in manufacturing, services, and consumption while enhancing collaboration with related enterprises [4][24]. Group 2: Market Trends and Strategic Recommendations - The shift from product export to brand and research export indicates a maturation in the international strategies of Chinese firms, necessitating a focus on local market compliance and strategic planning [15][30]. - Reports highlight the importance of optimizing overseas patent strategies to mitigate risks associated with intellectual property disputes, particularly in the automotive sector [17][18][31]. - The increasing role of private enterprises in international trade is evident, with significant contributions to export growth and initiatives aimed at expanding market presence in emerging regions [10][29]. Group 3: Economic Performance and Regional Developments - In the first four months of 2025, China's exports reached 8.39 trillion yuan, marking a 7.5% increase, with high-tech products and electric vehicles showing notable growth rates of 7.4% and 45%, respectively [10][28]. - Regional cooperation has proven effective, with significant trade volumes reported in areas like the Guangdong-Hong Kong-Macao Greater Bay Area and the Yangtze River Economic Belt, contributing to national economic stability [10][28]. - Initiatives in provinces like Jiangsu and Guangdong are encouraging companies to establish overseas production bases and participate in international trade fairs, further supporting the "going global" strategy [11][29].

Core Viewpoint - Alibaba Cloud is launching a new strategy to support Chinese enterprises going global, emphasizing significant investment in infrastructure, technology, and services to enhance their international presence [1]. Group 1: Infrastructure Development - Alibaba Cloud aims to accelerate the creation of a unified global cloud computing network, operating in 29 regions with 87 available zones, offering 394 cloud and AI products, and 59 technical services, making it the largest cloud service provider in the Asia-Pacific region [1]. - The company plans to invest over 380 billion RMB in the next three years for cloud and AI hardware infrastructure, exceeding the total investment of the past decade [1]. Group 2: AI Product Internationalization - Alibaba Cloud is accelerating the internationalization of its AI products, with the PAI development, training, and inference services covering 17 global regions [4]. - The company has open-sourced over 200 models, resulting in more than 100,000 derivative models, establishing the largest open-source model ecosystem globally [3]. Group 3: Integrated Service Experience - Alibaba Cloud will enhance its consulting, technology, and service teams for overseas operations, providing 24/7 integrated services [6]. - The company offers high ROI solutions tailored to meet the diverse needs of Chinese enterprises abroad, exemplified by GAC Group's use of Alibaba Cloud to address compliance challenges in overseas markets [7]. Group 4: Case Studies - GAC Group reported a 50% reduction in data processing costs by utilizing Alibaba Cloud's Lindorm big data engine for its overseas vehicle networking system [7]. - A startup, Aishi Technology, has achieved over 60 million global users for its AI video generation platform, PixVerse, with significant support from Alibaba Cloud in overcoming technical challenges [8][9].

Group 1 - The core viewpoint of the articles highlights the increasing trend of A-share companies planning to list in Hong Kong, driven by internationalization strategies, policy support, and improved liquidity in the Hong Kong market [1][2][6] - Weir Shares announced its plan to issue H-shares and apply for listing on the Hong Kong Stock Exchange to enhance its international financing capabilities and competitiveness [2][3] - Over 20 A-share companies have submitted applications to the Hong Kong Stock Exchange this year, including notable firms like Sany Heavy Industry and Haidilao, indicating a significant uptick in interest for dual listings [2][4] Group 2 - The China Securities Regulatory Commission (CSRC) has accelerated the review process for overseas listings, reducing the average approval time from over 100 days to less than 60 days [2][4] - The trend of A-share companies seeking dual listings is supported by favorable policies, such as the CSRC's measures to facilitate qualified domestic companies in raising funds in Hong Kong [4][5] - The Hong Kong market's liquidity has improved, attracting international capital and enhancing the pricing power of quality assets, which is beneficial for A-share companies looking to expand [6][7] Group 3 - The dual listing trend is expected to continue, with projections indicating that more large A-share companies and leading firms listed in the U.S. will seek to list in Hong Kong, potentially making it a focal point for new stock offerings [7][8] - Approximately 60% of the companies planning to list in Hong Kong are from the manufacturing sector, which will enhance the representation of quality manufacturing firms in the Hong Kong market [7] - The ongoing trend of A-share companies listing in Hong Kong is seen as a way to participate in global competition and improve the international presence of Chinese firms [8]

以下文章来源于暗涌Waves ，作者暗涌 暗涌Waves . 钱的流向，人的沉浮。36氪旗下投资报道账号。 出海就是要长出原来不具有的骨骼和组织。 文 ｜ 施嘉翔 编辑 ｜ 陈之琰 来源｜ 暗涌Waves（ID：waves36kr） 封面来源 ｜ IC photo 供应链的话题从未像今天如此重要。 在中国学界，林雪萍是少有的同时拥有供应链和全球化两大议题著作的学者。作为上海交通大学中国质量发展研究院客座研究员，他观察、记录全球供应链 的时间已有20余年。 在林雪萍出版于2023年的《供应链攻防战》和出版于2025年的《大出海》中，对于中国供应链有许多脍炙人口的表达——比如，"供应链就像是奔腾的洪 流，四下散开去寻找最稳妥的巨大洼地"、"自由市场化的供应链，在国家权力的围堵下，已经变成透明的鱼缸"、"供应链竞争力不仅是所有供应链节点的合 力，更是一个国家制造能力的总和"。 | | | 部基于田野调查的 中国企业出海纪实与产业分析 | | | | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | ...

Group 1 - The global trade landscape is undergoing rapid restructuring, entering a more challenging "Tariff 2.0 era" characterized by broader implications, higher average tariffs, and more pronounced factional divisions [1] - The Shanghai University of Finance and Economics hosted a forum focused on "The Path for Chinese Enterprises in the Tariff 2.0 Era," aiming to explore strategies and opportunities for Chinese companies under new tariff policies [1] - The forum emphasized the need for a practical dialogue mechanism, innovative talent cultivation models, and contributions of Chinese wisdom to global governance [1] Group 2 - Companies are facing challenges in overseas financing, with banks raising requirements for outbound financing, including the need for loans from qualified foreign banks and ESG compliance [1][2] - The phenomenon of "involution" in competition is leading to a decline in market share for Chinese companies in overseas markets, necessitating industry associations to establish standards to prevent vicious competition [2] - To mitigate trade risks, companies are encouraged to diversify exports and upgrade transshipment trade, with suggestions to explore new intermediary countries like the UAE for better trade relations with the U.S. [2] Group 3 - A roundtable discussion revealed that 80% of surveyed foreign trade enterprises in Suzhou achieved positive growth despite adverse external conditions, showcasing the resilience of private export enterprises [5] - The government of Suzhou is actively involved in addressing foreign trade issues to prevent potential social problems arising from factory shutdowns and employee layoffs [5] - Companies are adapting to increased tariffs by maintaining existing trade methods, leveraging cost advantages, and utilizing transshipment trade to circumvent tariff barriers [5][6] Group 4 - Different sizes and types of companies exhibit varying strategies in response to tariffs, with those possessing core competitiveness being less affected [6] - Traditional B2B companies with less bargaining power face significant pressure from sudden tariff increases, potentially leading to order cancellations or delays [6] - High-tech industries with irreplaceable products can mitigate tariff impacts through price adjustments, while smaller sellers may benefit from shifts in sales volume due to changes in platform traffic [6]

Group 1 - The current business environment is significantly different from one or two decades ago, with intense domestic and international competition, leading to a phenomenon of "involution," which also drives economic growth [1] - China's position in global trade has notably improved, becoming the largest trading partner for over 140 countries, supported by strong manufacturing capabilities and a complete industrial chain [1] - Most companies are currently pausing orders rather than halting operations, indicating strong resilience, with no large-scale loan withdrawals or layoffs reported [1] Group 2 - Over 80% of companies are affected by Tariff 2.0, with those relying on U.S. orders facing the most significant impact; however, 18% of companies still report order growth, indicating strong competitiveness and product uniqueness [2] - The Shanghai government is forming a special task force to address Tariff 2.0, focusing on logistics and cross-border e-commerce development [2] - A public service platform is being established to support companies in expanding internationally, expected to launch in the fourth quarter, providing information and professional services [2] - Green trade is emerging as a crucial trend in global trade, with companies encouraged to participate in the formulation of international trade rules and to focus on ESG development [2]

Core Viewpoint - Shandong Province is launching a special initiative to support small and medium-sized enterprises (SMEs) in expanding overseas, aiming to enhance their international market presence through various organized activities and tailored services [1] Group 1: Initiative Details - The initiative will focus on key industries in Shandong, promoting specialized and innovative enterprises to participate in overseas activities [1] - The goal is to organize over 300 overseas exhibitions and more than 10 specialized matchmaking events throughout the year [1] - A customized approach will be adopted for each industry to assist more enterprises in penetrating international markets [1] Group 2: Support Mechanisms - The Shandong Provincial Department of Industry and Information Technology will introduce the "Shandong Province Action Plan for Supporting SMEs to Go Global by 2025" [1] - Collaboration will be established with various organizations, including commerce, foreign affairs, trade promotion associations, and business associations, to create a coordinated service mechanism for SMEs [1] - A one-stop international trade service platform, named the Shandong SME International Reception Hall, will be set up to provide comprehensive services [1]

Core Viewpoint - The forum highlighted the vast opportunities for Chinese companies to expand internationally, while also addressing the challenges posed by tariffs, geopolitical factors, and the need for international talent and supply chain management [1][5][6]. Group 1: Industry Insights - The automotive industry is viewed positively for international expansion due to its large scale, ongoing development, and high technical complexity, which creates significant barriers to entry for competitors [2][17]. - The gaming industry faces intense competition but also presents differentiated opportunities across various global markets, with specific strategies needed for each region [3][8][19]. - Companies like Wentech are focusing on global talent, technology, and supply chain integration to implement a "Local For Local" strategy, which has proven effective in navigating global challenges [3][11][10]. Group 2: Investment Opportunities - Investment in companies with high profit margins, rapid growth, and significant market potential is emphasized, while also considering external risks such as tariffs and market uncertainties [2][4][30]. - The cultural and entertainment sectors, particularly in areas like emotional consumption and AI applications, are seen as having substantial growth potential, driven by strong domestic supply chains and large consumer bases [4][28][29]. - The importance of IP and product strength in the cultural export sector is highlighted, with successful examples of Chinese IP gaining global traction [28][35]. Group 3: Strategic Recommendations - Companies are advised to optimize their balance sheets and enhance collaboration with upstream and downstream partners to better navigate uncertainties [32][36]. - A multi-faceted approach to risk management is recommended, including preparing for various market scenarios and maintaining flexibility in product offerings [32][33]. - Emphasis is placed on the need for a global perspective in both investment and operational strategies, recognizing the importance of understanding macroeconomic trends and industry dynamics [35][36].

以下文章来源于镜相工作室 ，作者镜相作者 镜相工作室 . 商业世界的风向与人 来源丨镜相工作室（ shangyejingxiang） 作者丨 李丹 编辑丨 卢枕 拉丁美洲是离中国最遥远的大陆之一。从北京出发，飞行20多个小时，跨越1.6万公里，才能抵达巴 西。但距离上的遥远、文化上的陌生都没能阻挠中国企业掘金的决心，巴西正在成为越来越多中国企 业全球化征程中的重要一站。 就在前不久，巴西总统卢拉访华，出席中国-巴西商业研讨会。5月12日，美团宣布在未来几个月内将 旗下外卖服务Keeta引入巴西，并计划5年内在巴西投入10亿美元支持该项目的发展。比美团更先一 步的是滴滴，4月5日，滴滴曾宣布以"99 Food"的品牌重启巴西外卖业务，协同巴西本地出行和支付 等多元化服务。 同时，蜜雪冰城宣布今年将在巴西开出首家门店，将在巴西启动供应链工厂的建设，计划未来3-5年 将在巴西投资采购咖啡豆等农产品在内的总价值不低于40亿人民币的物资。巴西总统卢拉还会见了广 汽集团相关负责人， 广汽集团明确在巴西进行本地化生产计划。 巴西总统也会见了长城汽车董事长 魏建军，魏建军邀请卢拉出席长城汽车巴西工厂的开业仪式。 一系列密集且 ...