China's tech companies are taking a more American approach to international expansion
Shanghai-based artificial intelligence company Yitu Technology announced this month that is launching its first R&D center outside of China in Singapore. The move is part of a larger trend among Chinese tech companies hoping to achieve two goals: Access top foreign engineering and scientific talent by setting up R&D centers in key global knowledge hubs, and embed themselves deeper in local ecosystems to spur new long-term growth engines -- most notably in Southeast Asia. The ultimate goal for many of China's leading tech companies is to become true multinationals. Their strategy is to build a significant presence in their huge home market and then leverage that to branch out internationally. However, they face a steep learning curve: The free-for-all ethos and Darwinian natural selection that guide their modus operandi in China often prove to be counter-productive in smaller, more insulated markets.
Feb-16-2019, 22:20:34 GMT
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