China’s Next Role: An Innovation Base for Global Business
This 2023 perspective considers how multinationals can work with Chinese innovation as part of their global strategy. It complements our later “From To China to From China” discussion.
Originally published in TechNode
Read Min Zhou’s original TechNode article ↗
Reconsider the role of the China business
The original article describes an evolution from selling global products in China to developing products locally. Its next proposition is to use Chinese innovation, talent and supply-chain capabilities for global markets.
Local partners can contribute more than lower costs
Phoenix Contact’s experience provided the starting point for discussing the changing relationship between multinationals and Chinese technology companies. Domestic innovators can become partners in development, rather than being viewed only as suppliers or competitors.
Build together for a wider market
The article argues for integrating Chinese market knowledge into global strategy and collaborating on new applications. For startups, this creates a potential route from a local capability to a broader commercial opportunity.
Read the original for the examples and recommendations as presented in October 2023.