China has continually emerged as the champion of global expansion, economic development, and international cooperation. Despite the pandemic-led complexities, 2020 was a record-breaking year for the world's second largest economy. Its outward foreign direct investment (ODI) reached a whopping $153.71 billion in 2020 , making it the largest cross-border global investor for the first time in history. And the country continues to maintain its steady growth.
The accelerated transformation of China into a globalization engine can be attributed to various factors, including its highly competitive local market, new technologies, rising incomes, and the changing business landscape. The Chinese government further fosters an environment of constant growth, innovation, and support to encourage businesses to go overseas. As a result, many Chinese enterprises are expanding their international footprint to unlock new opportunities, competitive edge, and global recognition. By leveraging cutting-edge technology, building a powerful digital infrastructure, and developing a localized growth strategy, Chinese companies can ensure their successful international debut.
At Alibaba Cloud, the innovation engine of Alibaba Group, we are at the forefront of technological breakthroughs and play a pivotal role in driving the era of globalization. We empower companies to conduct business without boundaries and fast-track their global expansion journeys by providing suitable infrastructure, technology, support, consulting, and expertise.
The latest issue of our e-magazine, Innovation Beyond Borders: Accelerate Your Global Strategy, focuses on how Chinese enterprises can fuel their globalization strategy to efficiently tackle the challenges and unlock success in foreign lands. It provides an overview of China's integration into the world economy and powerful insights from leading Chinese companies around 'going global.' It also showcases how Alibaba Cloud's products, services, and industry expertise powers businesses to thrive globally. Let's take a look at some key takeaways from this e-magazine.
Access to the proper infrastructure with advanced cross-border network connectivity and extensive technical support is one of the many challenges enterprises face when laying their technological foundation for operations abroad. The rise of digitization and new intelligent technologies significantly lower the barriers to globalization. Chinese enterprises of all sizes and types are moving to the cloud to set up a digital infrastructure without the hefty costs and resources associated with a traditional on-premises infrastructure. Cloud migration helps quickly deploy business applications, improve the speed-to-market and foster agility, assisting enterprises to timely introduce their products to the international market.
Being a global leader in cloud computing and artificial intelligence, Alibaba Cloud offers high-performing and secure cloud computing solutions that meet different international business scenarios. Our solutions, such as Global Accelerator (GA) and Cloud Enterprise Network (CEN), help build a safe, reliable, and high-quality globally interconnected network for enterprises. With GA, companies can quickly access office systems across different regions and improve internal collaboration between teams.
Similarly, gaming companies face many networking issues such as high latency, packet loss, delays, etc., and security constraints when scaling operations across the borders. Global Accelerator performs smart scheduling of user traffic to facilitate nearby access to the global network of Alibaba Cloud and accelerate data transmission. This ensures superior network quality and an immersive gaming experience. GA further offers disaster recovery across different regions and cloud security services to keep the game servers safe against potential attacks. Apart from cross-border networking solutions, we provide targeted support across consulting, development, migration, and delivery to our partners by formulating flexible, tailor-made strategies to address their unique requirements.
Live streaming has witnessed a significant boom in China. According to Statista , there were about 703.4 million live streaming users in China by the end of 2021, displaying a penetration rate of 68.2% among internet users. While e-commerce and gaming are the top industries in China leveraging the benefits of live streaming, the technology has also seeped its roots across traditional sectors such as education, entertainment, sports, and media events. Many Chinese enterprises that have gained significant success with live streaming in the domestic market seek to achieve similar growth in the foreign lands. However, technical, operational, and compliance issues make it hard for companies to implement cross-border live streaming experiences.
At Alibaba Cloud, we have extensive experience enabling cross-border high-definition live broadcasts and help businesses build an instant connection with the audience across the world via our robust solutions. For instance, our solutions have played vital roles during events such as the Double 11 Global Shopping Festival and the Beijing 2022 Olympic Winter Games.
Alibaba Cloud's Cloud Delivery Network (CDN) enables a robust cross-regional network with over 2,800 nodes covering six continents, 120 Tbps of bandwidth, and support for major ISPs across the globe. CDN delivers ultra-smooth, low latency, and secure viewing experiences to geographically dispersed audiences with a response time of less than several milliseconds. Our narrowband HD transcoding technology also helps optimize viewing experiences with video processing algorithms that seamlessly reconstruct and optimize details in low-quality images.
Similarly, ApsaraVideo Live, an audio and video streaming platform, enables low latency cross-border live broadcasts and boosts real-time viewing experience across the globe. To further ensure the smooth operation of cross-border networks, we provide our partners live streaming monitoring and multiple disaster recovery management support for major live events.
Innovation lies at the heart of globalization. For companies to make it big in the global marketplace, it's imperative to have an innovative product with a unique selling point. It's equally important for companies to conduct regular benchmarking to compare the performance and features of their products with competitors in the international market. This helps paint a clear picture of where they stand and what they can do to improve their products.
Similarly, companies should focus on building a robust community and influence value networks to boost brand equity. Marketing is an integral part of brand promotion. However, companies should invest more in Research and Development (R&D) as it can help them continually innovate, evolve faster, predict the market, release better products, and keep up with dynamic customer needs. For example, Pimax, a Chinese technology company specializing in advanced virtual reality (VR) hardware, successfully went global with its rollout of high-performance VR equipment. Our e-magazine features Pimax's growth journey across borders in detail.
To foster business success across borders, we provide our partners with an easy-to-use online platform to showcase their innovation to the world. With the Alibaba Cloud marketplace portal, Alibaba Cloud's technology partners can easily deploy their solutions on our cloud platform using our Infrastructure-as-a-Service (IaaS) to offer end-to-end “out of the box” solutions to our global clients.
Every country is unique and brings many cultural, political, operational, and economic challenges. For Chinese companies, South East Asia has increasingly become an attractive destination for global expansion. Chinese enterprises are taking insights from their success in their home country and practicing localization to flourish beyond borders. Localization must be a crucial part of a successful globalization strategy and can significantly define how an enterprise performs in the international market. By having a clear understanding of local nuances, in-country trends, and cultural differences, companies can address the needs of their customers. Furthermore, tailoring products to meet the needs of their new global customers, communicating in the country's native language, and researching effective marketing strategies for the region, helps companies build strong relationships, gain customer trust, and show their commitment to the country.
Alibaba Cloud caters to thousands of enterprises across varied industries in over 200 countries and regions. To help our partners meet the data security and compliance requirements, we adhere to relevant international information security standards and follow best practices in international and domestic markets. To curtail cross-border data flow-related constraints, we have set up local data centers in Malaysia, Singapore, Indonesia, and the Philippines. We also hold profound knowledge and experience of overseas culture, and our overseas teams help our partners formulate business plans enriched with local insights and expertise.
Summing it up, China has successfully built itself into a powerhouse of economic growth, and a growing number of Chinese enterprises have successfully established their footprints outside their home country. Alibaba Cloud believes in enabling enterprises, big and small, to conduct their business from anywhere in the world. Our comprehensive suite of advanced cloud computing products, professional services, and world-class technologies ensures businesses witness accelerated global growth.
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