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1. This article is selected from the audio of "Hearing Wu Xiaobo Every Day" on July 29, 2024. Members can listen to the entire content, and non-members can listen to the first minute. [Click here to listen to the audio]

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Narrated by Wu Xiaobo (WeChat public account: Wu Xiaobo Channel)

When conducting research in the Chinese business community today, I met ten people and seven or eight of them would tell you how their companies can go overseas. Going overseas is probably the hottest business term this year.

Last month, our channel held a summit for enterprises going global in Singapore. The original plan was for 500 people, but more than 1,200 people signed up, of which more than 800 entrepreneurs flew from China to Singapore to attend the meeting. Fortunately, I rented the National University of Singapore's auditorium to accommodate these 1,000 people.

During the forum, Gu Qingyang, a senior professor at the National University of Singapore, reminded me that Chinese entrepreneurs must pay attention to six words when going overseas, that is, "quick legs and slow hands."

What are fast legs?

As China's domestic industrial economy gradually becomes saturated, exporting production capacity overseas is a must, and Southeast Asia is a very good choice.

The population of the ten ASEAN countries is half of that of China, more than 600 million, and the land area is also half of that of China. Moreover, many of these countries are close neighbors to China, and their cultural backgrounds are very similar, so their industrial spillover and supporting capabilities are very strong.

In addition, their development stage is basically the same as that of China from the 1980s to the 1990s.

When Chinese companies go global, many of them are able to achieve dimensionality reduction attacks, so why should they act slowly?

First, people in these ASEAN countries look very similar to us, they are all yellow people, but they are still very different from us in various fields such as politics, economy and humanities.

For example, these ten countries have very different political and religious systems, including constitutional monarchies, socialist countries, dictatorships, democratic constitutional countries, and Islamic countries. And because of various historical and geographical reasons, their closeness to China is also very different.

Second, the economic environment is different. From last year to this year, I visited seven ASEAN countries, and I could clearly feel that different countries have very different attitudes and industrial policies when it comes to attracting foreign investment, especially welcoming Chinese companies to invest.

In the same clothing and textile industry, Cambodia, Thailand, Vietnam and Indonesia have different industrial support policies and welcome different companies.

Therefore, you need to determine which country you want to go to based on your company's own industrial level, supporting capabilities, and R&D resources. At the same time, the United States and the European Union also have different tariff policies for the export of goods from different countries.

Third, in addition to the political and economic environments, the cultural environment is also very different. The median population of most Southeast Asian countries is more than ten years younger than that of China, so there are more young people. Their understanding of career wealth is quite different from that of the Chinese.

In addition, independent trade unions in many countries are very powerful. Without in-depth understanding and appropriate institutional arrangements, labor-management conflicts are likely to occur in the future, and even regional unrest may occur.

Therefore, going overseas is a systematic project, which requires comprehensive thinking and design from aspects such as industrial support, psychological construction, institutional arrangements and supply chain.

If you have the idea of ​​going overseasFirst of all, read more, think more, ask more, and communicate more.Flow is the so-called fast-moving leg;But at the same time, you must be very cautious when making your moves, which is the so-called slow start.

In the second half of the year, our channel will also host a number of corporate overseas forums. Among them, a forum on corporate overseas expansion and supply chain innovation will be held in Xiamen in early September. Friends who are interested can continue to pay attention to the developments of Wu Xiaobo Channel.

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