New wave emerges on the global scene

Technology-savvy Chinese companies are now targeting Western rivals on the global stage. Howard Yu, professor of strategic management and innovation at IMD Business School in Lausanne, Switzerland, has called it a "new wave".

Although traditionally Chinese firms have become globally competitive after being highly successful in the vast consumer market here, this "new wave" competes by using creative digital technology to closely interact with consumers in selected overseas markets.

"These companies are fundamentally different," Yu said. "Whereas the more traditional Chinese manufacturing firms go global by building up scale in China first and slowly creating distribution across the world, these new digital-based companies have to go global from day one."