未来5年，我国企业"走出去"面临重大机遇。 "一款婴幼儿配方乳粉，母乳研究来自国内，奶源来自新西兰，创新成果在欧洲的创新中心，而质量管 理体系来自英国、瑞典的管理体系，最后又回到中国消费者手中。"11月13日，在第十六届财新峰会 上，内蒙古伊利实业集团股份有限公司（以下简称"伊利"）副总裁张轶鹏说。 这不只体现了伊利深度全球化布局的"网"与"链"，也是中国企业深度参与全球化发展的生动缩影。如 今，从高铁、电网到新能源、跨境电商、金融科技、文化消费，从产品、技术到服务、品牌、供应链、 价值观，中国企业走出去的路径愈加多元，步伐也愈加坚定，正逐步成为全球化发展的重要推动力量。 "世界经济发展史表明，从商品输出到资本'走出去'，是经济发展特别是大国发展的必经阶段，这也是 我国构建新发展格局的内在要求。"会上，中央财经委员会办公室原副主任尹艳林强调，未来5年我国企 业"走出去"面临着重大机遇。机遇之下，新的风险和挑战也随之而来。中国出海企业如何理解新时期的 新机遇？又如何在全球化浪潮中破局前行？ "中国人经济"视角下的出海新机遇 《中共中央关于制定国民经济和社会发展第十五个五年规划的建议》提出，要稳步扩大制度型开放， ...

Group 1: Conference Overview - The 16th Caixin Summit held in Beijing focused on "Resilience and Patience," discussing the evolution of "new globalization" and innovative practices for "sustainable development" in the context of profound changes in the global economic landscape [1] - ThinkPad Aura was designated as the AI business laptop for the summit, showcasing Lenovo's global operational experience and carbon reduction practices, contributing to the core themes of the conference [1] Group 2: New Globalization Report - The summit released the "2025 China Enterprises 'New Globalization' Special Report," indicating a shift from focusing on domestic economic volume to global wealth creation, with Chinese companies moving from product output to brand and ecosystem output [2] - Lenovo's globalization practice, emphasizing "deeply rooted in China, mutually beneficial globally," was highlighted as a key case study, ranking first in the recently published "2025 Outbound TOP100 Index" [2] - Lenovo's outbound model successfully integrates international resources with localized operations, continuously supporting domestic industrial upgrades and technological innovation [2] Group 3: Sustainable Development and Innovation - Companies are encouraged to integrate sustainable development into their core strategies to build future-oriented green competitiveness, transforming low-carbon concepts into growth momentum through green innovation [3] - Lenovo has committed to achieving net-zero emissions across its entire value chain by 2050, with a focus on reducing environmental impact and promoting sustainable production operations [3] - The ThinkPad Aura series exemplifies Lenovo's sustainable development strategy, utilizing bamboo fiber packaging, which has resulted in over 3,270 tons of bamboo fiber used and more than 25 million units shipped with bamboo fiber packaging [3]

Core Insights - The report emphasizes the concept of "Chinese People Economy" as a new perspective for Chinese enterprises to navigate globalization, highlighting the shift from focusing solely on the "Chinese Economy" to a broader view that includes wealth creation by Chinese enterprises and individuals globally [1][3] - The "China+N" strategy is proposed as a means for Chinese companies to leverage their domestic advantages while expanding globally, transitioning from product-based to brand-based and from low-value to high-value operations [5][10] Group 1: New Globalization Trends - The report identifies four characteristics of new globalization: trade protectionism, geopolitical conflicts, the rise of the Global South market, and the transformation towards service-oriented and green trade [8] - It outlines four trends in Chinese enterprises going abroad: the evolution from product export to brand and ecosystem export, diversification of investment fields, the significance of the Global South markets, and the capability output of Chinese enterprises [8][10] Group 2: Policy and Strategic Recommendations - Recommendations for enhancing the "going out" strategy include establishing a comprehensive support system for overseas operations, improving compliance and risk management, and fostering local integration and ecological collaboration [5][6] - The report suggests that the "15th Five-Year Plan" should focus on expanding high-level openness and promoting a win-win cooperation model, emphasizing the need for a structural adjustment towards balanced trade [6] Group 3: Case Study of Lenovo - Lenovo is highlighted as a leading example of the "China+N" strategy, demonstrating successful global operations while maintaining a strong base in China [11][13] - The company has achieved significant growth, with a 22-fold increase in annual revenue and nearly 80% of its revenue coming from overseas markets, showcasing its leadership in the new globalization phase [13] - Lenovo's approach includes building a global supply chain network that integrates international resources with localized operations, thereby enhancing its competitiveness and market share [11][17] Group 4: Industry Collaboration and Ecosystem Development - Lenovo has facilitated the international expansion of over 250 domestic suppliers, creating a one-stop solution platform to lower the barriers for smaller enterprises to go abroad [16] - The company emphasizes the importance of community engagement and compliance in its global operations, aiming to create a symbiotic ecosystem that benefits both local markets and Chinese enterprises [14][17]

Core Insights - The report titled "Developing the 'Chinese Economy' and Sharing Opportunities for High-Level Opening" was released at the 16th Caixin Summit, highlighting new trends and challenges for Chinese enterprises in the context of new globalization [1][2] - It proposes a "China + N" model for Chinese companies to progress from products to brands, low value to high value, and from individual enterprises to industry chain ecosystems [1] Group 1: Characteristics of New Globalization - The report identifies four key characteristics of current "new globalization": trade protectionism, geopolitical conflicts, and the reshaping of global economic rules; a diversified and regionalized international landscape; the dual engines of service-oriented and green transformation in global trade; and the accelerated restructuring of the global economic governance system [1] Group 2: Trends in Chinese Enterprises Going Global - The report summarizes four major trends for Chinese enterprises going global: the expanding connotation of going global from "product export" to "brand export," "industrial chain export," and "ecosystem export"; diversification in foreign investment fields with manufacturing as a key focus; the "global south market," represented by the Belt and Road Initiative, emerging as a new growth engine, with Asia remaining the primary destination for Chinese foreign investment; and a shift towards "capability output" for Chinese enterprises [2] - Former Deputy Director of the Central Financial and Economic Commission, Yin Yanlin, emphasized the need to strengthen the "Chinese economy" and the "Chinese economy" by enhancing global resource allocation capabilities and promoting international cooperation in industrial and supply chains [2] Group 3: Strategic Layout of Chinese Enterprises - The report advocates for Chinese enterprises to adopt a "China + N" strategic layout, exemplified by Lenovo Group, which has 80% of its manufacturing and 70% of its R&D personnel based in China, integrating international resources with localized operations to support domestic industrial upgrades and technological innovation [2] - Lenovo Group, as a "chain leader," has facilitated over 250 domestic suppliers to go global [2]

Core Insights - The report titled "Developing the 'Chinese Economy' and Sharing Opportunities for High-Level Opening Up - 2025 China Enterprises 'New Globalization' Special Report" was officially released during the 16th Caixin Summit, highlighting new trends and challenges for Chinese enterprises in the new phase of globalization [1] - It emphasizes a shift from focusing solely on the "Chinese Economy" to incorporating the "Chinese People Economy," which considers the wealth created and owned by Chinese enterprises and individuals globally [1] Policy and Industry Recommendations - The report suggests building a comprehensive policy support system to enhance overseas operations, including establishing a robust overseas service framework and deepening international cooperation [2] - It recommends that Chinese enterprises focus on strategic positioning, compliance risk management, and local operations to achieve ecological integration and value co-creation [2] Case Studies and Performance - The "Chinese + N" strategy has been validated by leading Chinese enterprises, with Lenovo Group highlighted as a key example, achieving a 22-fold revenue growth over 20 years and operating in 180 global markets [2] - Lenovo's overseas revenue accounts for nearly 80% of its total, and it ranked first in the recently published "2025 Outbound TOP 100 Index" [2]

Core Insights - The report titled "Developing the 'Chinese Economy' and Sharing Opportunities for High-Level Opening Up - 2025 China Enterprises 'New Globalization' Special Report" was released during the 16th Caixin Summit, highlighting new trends and challenges for Chinese companies going global from the perspective of the "Chinese Economy" [1] - It advocates for a "China + N" strategic layout for Chinese enterprises, aiming to leverage China's manufacturing and industrial chain advantages to connect with global markets and elevate from product to brand, low value to high value, and individual enterprises to industrial chain ecosystems [1] Group 1: Trends in Chinese Enterprises Going Global - The report identifies four major trends in Chinese enterprises going global: the enrichment of the concept of going global from "product export" to "brand export," "industrial chain export," and "ecosystem export" [1] - It notes the diversification of foreign investment fields, with manufacturing as a key focus and a growing diversification in the service sector [1] - The "Global South Market," represented by the Belt and Road Initiative, is highlighted as a new growth engine, with Asia remaining the primary destination for Chinese foreign investment [1] - The report emphasizes the "capability output" of Chinese enterprises going global [1] Group 2: Policy and Industry Recommendations - From a policy support system perspective, the report suggests constructing a comprehensive institutional guarantee, establishing an overseas comprehensive service system, deepening international cooperation, and upgrading the value connotation of "going global" [2] - It recommends that Chinese enterprises focus on strategic positioning and compliance risk control, promote localized operations and ecosystem integration, and deepen ecological collaboration and value co-creation for better global engagement [2]

Group 1 - The global situation is highly uncertain, and major powers must manage globalization risks, with six irreversible trends emerging: digitalization, low-carbon green transformation, financialization, urbanization, aging, and new-type globalization [1] - The current shift in globalization is towards a new type, which cannot be reversed, as seen in the attempts of the Trump administration to alter its course [1] - China is experiencing rapid development in digitalization and is leading in low-carbon green transformation, but the understanding and systems related to financialization are lagging, which hampers international competitiveness [1] Group 2 - Urbanization in China is facing challenges, with a significant gap between household registration urbanization rate and permanent population urbanization rate, weakening internal dynamics and economic growth [2] - There are approximately 290 million migrant workers in China, and achieving full urban citizenship for them at the current pace may take decades, raising questions about readiness for accelerated urbanization [2] - The evolution of trends brings macro risks that are expanding, necessitating effective management of public and macro risks during this transition [2]

Group 1 - The World Economic Forum's 16th Annual Meeting of the New Champions in Tianjin attracted over 1,700 participants from more than 90 countries, focusing on five core topics including global economic interpretation and new energy [1] - Chinese Premier Li Qiang emphasized that China's steady economic growth will support global economic recovery and create new opportunities for international trade [1] - The forum highlighted the need for global collaboration and innovative solutions to address challenges such as AI governance and green transformation, with China identified as a key partner in this process [2] Group 2 - Countries are increasingly focusing on warehousing key commodities to enhance supply chain resilience, with Ecuador positioning itself as a trade hub [3] - Egypt is working to balance trade deficits through investment rather than tariffs, aiming to improve its investment attractiveness to European partners [3] - Italy's reliance on exports is significant, with small and medium enterprises playing a crucial role, while the imposition of high tariffs by the US has created uncertainty in the business environment [3] Group 3 - TCL's chairman, Li Dongsheng, highlighted the importance of maintaining strategic focus and seizing new market opportunities amidst global trade uncertainties [5] - Companies are encouraged to diversify their supply chains and adapt quickly to changes, with AI being a critical tool for enhancing adaptability and resilience [5][6] - Emerging technologies like AI are seen as key drivers for improving supply chain efficiency and enabling developing countries to compete globally [6]

Core Viewpoint - Lenovo's Chairman and CEO Yang Yuanqing emphasized that China's complete manufacturing ecosystem, efficient supply chain network, and strong R&D capabilities serve as a "stabilizing force" for the company amid global trade challenges, particularly tariffs [2][3]. Group 1: Global Strategy and Manufacturing - Lenovo's "global resources, local delivery" strategy is centered around China, which acts as the manufacturing hub, R&D center, and supply chain core, enabling the company to mitigate risks associated with traditional globalization [3]. - The company employs an "ODM+" model, integrating product design, manufacturing, and marketing, allowing for rapid supply chain restructuring in response to tariff changes [3][4]. - Lenovo has established a "1+N" distributed supply chain network with 33 factories across 11 countries, enhancing local production capabilities to minimize tariff impacts [3][4]. Group 2: Response to Tariff Pressures - Yang highlighted that Lenovo is not afraid of tariffs but rather the uncertainty they bring, having developed a mature "policy response mechanism" over 20 years to address various countries' tariff policies [5]. - The company can quickly reorganize production and supply chains within months, compared to competitors who may take 1-2 years, providing a significant agility advantage [5][6]. Group 3: Competitive Advantages - Lenovo's scale and cost control are bolstered by a unified global R&D platform and procurement system, allowing for efficient logistics and cost optimization [6]. - The company's commitment to maintaining market share and profits is rooted in its confidence in its business model, which emphasizes local delivery capabilities and customized products [7]. Group 4: Insights for Chinese Enterprises - Lenovo's success illustrates that globalization involves not just product output but also capability output and local integration, urging other companies to develop local production, R&D, and service systems [8]. - Companies should enhance supply chain flexibility and maintain control over core processes to navigate global trade uncertainties effectively [8]. Group 5: Conclusion on New Globalization - Lenovo's practices demonstrate that true global competitiveness lies in integrating global resources with local value creation, showcasing a new paradigm for Chinese enterprises in the global market [9].