Today, international businesses are constantly looking to expand into global markets with the hope of providing previously untapped markets with highly usable, diverse, and unique products. However, for many Chinese companies, the process of globalizing can be difficult and are filled with obstacles. As Chinese companies try to expand from local to worldwide markets, the language and cultural barriers faced have historically proven challenging, and sometimes even insurmountable.
In recent years, the Chinese economy is experiencing a major transformation—from the low-cost manufacturer of the world to a high-quality supplier of goods and services. Across the country, efforts are being made to find the most innovative, technologically proficient, and most societally-enriching companies, and provide them with greater economic support and developmental aid. These efforts have allowed Chinese companies to transcend previously experienced boundaries and rapidly expand into foreign markets. At the epicenter of this expansion is the southern city of Shenzhen—home to the majority of China’s newest, and most innovative companies.
Shenzhen is one of the best locations to launch a business or invest in one that is currently growing. The city is China’s first special economic zone, and with its differentiated policies and procedures, Shenzhen fosters massive business development, high-technology, and innovation. In this hotbed of international business and economic growth—China’s “Silicon Valley”—the global community must be able to identify the companies to watch for in the coming years.
The Shenzhen 100 is a tool that identifies and ranks these companies according to their global readiness. The research project was initiated by CSOFT International and jointly launched by the company and the Shenzhen government to uncover the city’s most promising companies. The Shenzhen 100 accomplishes this by blending hard data and qualitative indicators to highlight the best up-and-coming firms, with strong desires to compete globally.
A press conference will be held to officially launch the Shenzhen 100 on March 16th and the first report will be released in mid June.
Becoming a truly global and influential company does not come easily, and companies in Shenzhen still face many obstacles. Startups operate in a new era with fierce competition, open markets, cross-culture communication, and a global resistance to companies from emerging markets. Only companies with clear, focused strategies and a capacity for strong execution can hope to become global leaders in their industries. Companies such as these comprise the ranks of The Shenzhen 100.
By offering insights into the holistic entrepreneurial landscape, the Shenzhen 100 provides Shenzhen firms big and small, a tool for connecting with resources, and developing a global strategy.