A Study on Internationalization Strategy of Chinese Small and Medium-Sized Enterprises in the Post Global Financial Crisis Era
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Large state-owned enterprises in China have been regarded as dominant leaders in enterprise internationalization strategy for a long time. However, in recent years, some private enterprises have become an important subject of overseas investment. Small and medium enterprises (SMEs) in China are a new subject in the international market, which are expected to continue increasing their strength. This paper reviews the current situation of SMEs in China and expounds on how Chinese SMEs should pursue an internationalization strategy based on the analysis of the external development environment and existing problems of SMEs. The industrial upgrade of SMEs focuses not only on the problem of production mode but also on the problem of constructing social order. SMEs should combine advanced technology with traditional technology to provide their brand a unique characteristic. They should establish an effective corporate governance system, maximize human capital utility, and improve their own technological innovation ability. SMEs need to make full use of Chinese government's “One Belt and One Road” strategy to explore emerging markets. The Chinese government should also establish a financial institution, set up special funds for SMEs, and help SMEs to boost exports by providing government financial support and policy guidance.
Abstract
Large state-owned enterprises in China have been regarded as dominant leaders in enterprise internationalization strategy for a long time. However, in recent years, some private enterprises have become an important subject of overseas investment. Small and medium enterprises (SMEs) in China are a new subject in the international market, which are expected to continue increasing their strength. This paper reviews the current situation of SMEs in China and expounds on how Chinese SMEs should pursue an internationalization strategy based on the analysis of the external development environment and existing problems of SMEs. The industrial upgrade of SMEs focuses not only on the problem of production mode but also on the problem of constructing social order. SMEs should combine advanced technology with traditional technology to provide their brand a unique characteristic. They should establish an effective corporate governance system, maximize human capital utility, and improve their own technological innovation ability. SMEs need to make full use of Chinese government's “One Belt and One Road” strategy to explore emerging markets. The Chinese government should also establish a financial institution, set up special funds for SMEs, and help SMEs to boost exports by providing government financial support and policy guidance.
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