China is facing unprecedented opportunities and challenges in the process of globalization, especially in terms of industry going global. With the changing global economic landscape, China must accelerate the export of its industries to change its economic growth model and integrate into global competition. This transformation is not only a necessary choice to cope with domestic and international economic pressures, but also an important path to achieve high-quality development.

China's Industry Going Global in the Context of Globalization

In the past decade, Chinese enterprises' outward direct investment has significantly increased, shifting from the traditional "export" model to "going global", marking the gradual integration of Chinese enterprises into the global market. According to statistics, China's (including Hong Kong, Macao, and Taiwan) global commodity export share has reached 18.45% in 2023. This trend reflects the increasingly close connection between China and the world, as well as the important position of the Chinese economy in the global market.

Globalization and Industry Going Global Again

The wave of globalization has provided new opportunities for Chinese enterprises. With the diversification of the international market, especially the increasing influence of countries in the "global South", Chinese companies can expand their international market by going abroad, improve production capacity utilization and overseas revenue share For example, in industries such as new energy and electric vehicles, Chinese local enterprises are accelerating their internationalization, which not only helps to enhance their competitiveness but also provides impetus for domestic industrial upgrading.

Changing the Mode of Economic Growth

The Chinese economy is facing transformation pressure, and the traditional growth model is no longer sustainable. By accelerating the export of industries, China can achieve the following goals:

1. Enhancing international competitiveness: By participating in international market competition, Chinese enterprises can improve the quality of their products and services, thereby enhancing their international influence.

2. Optimize resource allocation: Going global can help companies allocate resources more effectively, reduce production costs, and improve overall efficiency.

3. Promoting technological innovation: In the international market, Chinese enterprises will face more technological and management challenges, which will motivate them to engage in technological innovation and management upgrades to cope with the challenges.

Although going global brings opportunities, it also comes with many challenges. The risk of "decoupling and chain disconnection" led by a few developed countries has intensified, and trade protectionism has risen, causing uncertainty for Chinese companies' operations in the international market. Therefore, China must strengthen its supply chain resilience, expand diversified markets to cope with potential risks, and integrate into global competition.


In order to better integrate into global competition, China needs to take the following measures:

1. Strengthen policy support: The government should formulate relevant policies to encourage enterprises to go global and provide necessary financial and legal support.

2. Enhance brand influence: Through brand building and marketing, increase the international awareness and reputation of "Made in China".

3. Promote cross-border cooperation: establish cooperative relationships with other countries, jointly develop new markets, and achieve mutual benefit and win-win results.


Case analysis

Taking the "the Belt and Road" initiative as an example, since 2013, China's direct investment in countries along the "the Belt and Road" has reached 161.3 billion US dollars, covering infrastructure, communications, manufacturing and other fields. This strategy not only promotes the development of countries along the route, but also provides rich market opportunities for Chinese enterprises.

Conclusion

In summary, China must make every effort to accelerate the export of its industries to adapt to the new changes in the global economy. This is not only an inevitable choice to address internal and external challenges, but also an important way to promote high-quality economic development. By actively participating in international competition, China can achieve the transformation from a "manufacturing power" to a "manufacturing powerhouse" and lay a solid foundation for future development. In this process, governments at all levels, enterprises, and all sectors of society need to work together to form a joint force to ensure the smooth progress of this transformation.