600 years later, China is once again making its mark internationally, evolving from a global manufacturing hub to a leader in ICT, electric vehicles, and AI technologies. By 2024, Chinese companies have accelerated their overseas expansion, particularly in AI. A June report from Feifan Research shows that out of 1,500 active AI companies worldwide, 751 are based in China, with 103 already expanding internationally. Many see this as a sign of China’s growing strength in tech innovation. Others argue that as domestic markets become saturated and competition intensifies, expanding overseas may have become the only viable option for these companies. (View Highlight)
The first companies that are grabbing the opportunities of going global are, not surprisingly, leading Chinese tech giants. The likes of Huawei, Tencent, and Alibaba have chosen to focus on cloud computing and AI infrastructure when expanding overseas. In March 2024, Tencent Cloud partnered with Etihad Etisalat (Mobily), a leading telecom company in Saudi Arabia. Together, they launched the “Go Saudi” program, which aims to transform the digital landscape of the Saudi Arabia Kingdom as part of its Vision 2030 strategy. In May, Huawei launched Galaxy AI as part of a larger initiative to boost digital intelligence transformation in North Africa. An initiative which is part of Huawei’s broader $430 million, five-year investment plan aimed at accelerating smart transformation across the region. That same month, Alibaba announced the construction of data centers in Korea, Malaysia, the Philippines, Thailand, and Mexico, alongside the release of the international version of its large model service platform, “Model Studio”. (View Highlight)
