Firms urged to sharpen global strategy

Report says companies should explore new growth drivers in overseas markets

As the global trade landscape continues to evolve, Chinese enterprises making forays into overseas markets should strengthen localized production and operation, and optimize the layout in global supply chains, while pooling more resources into technological innovation, to navigate challenges from escalating trade protectionism and geopolitical tensions, said experts and business leaders.

Enhancing global operational capacity will not only help these enterprises better utilize resources worldwide, but also promote the transformation and upgrading of China's manufacturing sector, given that the country has placed great emphasis on the construction of a modern industrial system, they said.

Their comments came as the upcoming Central Economic Work Conference is expected to sharpen the focus on giving full play to the role of enterprises in promoting industrial innovation, elevating their competitiveness on the global stage, and improving the resilience and security of industrial and supply chains.