On October 28, Liu Run, a well-known domestic business consultant, said in "The Power of Evolution: Liu Run's Annual Speech 2023" that the pattern of Chinese enterprises going overseas is undergoing profound changes. He used Sino Technology's overseas experience as an example to emphasize that the globalization strategy of Chinese enterprises is shifting to leverage advanced technology and high-quality services to succeed in overseas markets.
At present, the proportion of Chinese enterprises in global exports remains basically stable. Liu Run believes that Chinese enterprises can no longer rely entirely on "good quality and low price" when going overseas, but should turn to winning with technological innovation advantages. At the same time, Southeast Asian countries account for an increasing proportion of the target markets for Chinese companies to globalize – these emerging economies have young demographics, strong demand and broad market prospects, and are a "blue ocean" to be developed.
In his speech, Liu Run quoted Li Tiezheng, CEO of Xinye Technology, on the "boom in going overseas to Southeast Asia", saying: "Looking at fintech in Southeast Asia from today's Chinese perspective is like Pierre Cardin looking at China's fashion industry in 1978. In China, a person may have several credit cards. Southeast Asia has a population of more than 600 million. But there are only 0.1 credit cards per person. The local fintech is lagging behind, and this is a good opportunity for China to go global. ”
With years of technology accumulation and practical experience in the field of domestic financial technology, Xinye Technology officially started the process of internationalization in 2018, and its first stop in the sea is Southeast Asian countries. Xinye Technology is looking at the local demand for inclusive financial services that continues to grow while the economy is developing rapidly. Sino Technology has obtained business licenses from local regulators in Indonesia and the Philippines to launch fintech platforms in both countries. At present, the two brands have become the leading local fintech platforms.
After 5 years of accumulation, Xinye Technology's international business has become the second growth curve of the group, accounting for 16.3% of the company's total revenue. At the same time, guided by the successful practice in the Indonesian and Philippine markets, Xinye Technology is actively exploring the international market with the pan-Asia-Pacific as the core, and continues to move forward on the road to the sea. The company's intelligent voice call product "Blu AI" has been launched on a number of financial technology platforms in Indonesia, the Philippines, Mexico, Peru and Colombia, covering the voice call needs of various financial business scenarios and providing targeted and efficient AI solutions for overseas customers.
Li Tiezheng, CEO of Xinye Technology, said: "To go to sea is to raise the sails of science and technology and row local oars. At present, 80% of the employees in Xinye Technology's overseas business team are locals, and 70% of the transaction funds come from local financial institutions. The sufficient localization deployment fully ensures the stability of personnel and the continuity of operation, and lays the foundation for winning the long-term trust and good reputation of consumers.
"The fourth globalization is slowly restarting. Let us rely on technological innovation to go deeper; By looking at the world, go further. Liu Run concluded in his speech. In the future, Xinye Technology will continue to deepen the domestic and international "two-wheel drive" pattern that has been formed, and replicate the advantages and experience of financial technology to more overseas markets.