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Chinese firms have become key players in the global economy. Their rise is a defining feature since the turn of the century. In this paper, we analyze the ascent of Chinese firms in global business, the factors behind their emergence and how they have disrupted the global competitive landscape. Through the empirical study of large samples of firms and the help of databases like Capital IQ, FdI Markets and SDC Platinum, the paper examines the revenue growth and global expansion of Chinese firms– highlighting, among others, trends in geographical and sectoral distribution and modes of entry in foreign markets. The paper pays also particular attention to the rise of Chinese firms as global innovators and includes several cases studies in key industries. The paper concludes that while Chinese firms’ global expansion benefited from a favorable global environment, the current trade wars and geopolitical tensions, may be more challenging.
Casanova et al. (Mon,) studied this question.