SINGAPORE, Sept. 15, 2026 /PRNewswire/ -- Cheung Kong Graduate School of Business (CKGSB) today launched Chinese Companies' New Playbook for Going Global, a joint report with IE University's China Observatory examining how Chinese companies are rethinking their globalization strategies in an increasingly fragmented global economy.

Led by CKGSB's Professor of Economics and Associate Dean Li Wei, the report argues that Chinese corporate globalization is entering a third phase — "capability export." Rather than simply shipping products or building overseas sales channels, companies are increasingly taking the operating capabilities abroad – including technical standards, product development, supply-chain organization, service, branding, and business models—while adapting them to local markets.

For companies pursuing global growth, localization is becoming critical. Li Haitao, Dean and Dean's Distinguished Chair Professor of Finance at CKGSB, writes: "The next generation of winners will be those that understand local politics, respect local rules, invest in local capabilities and build trust with local stakeholders."

The report identifies two emerging models of Chinese overseas expansion. "Chain style globalization" sees large companies expand alongside suppliers and partners, extending industrial ecosystems overseas, whereas "swarm-style globalization" describes how smaller firms expand in quick succession supported by China's infrastructure such as industrial clusters, cross-border platforms, logistics networks and overseas warehouses.

The report's field research in Southeast Asia cautions against treating overseas markets as extensions of China. Price, speed and scale do not automatically translate into success: companies must navigate fragmented demand, regulatory complexity, local-content requirements, incomplete supply chains and cultural differences.

For multinationals and Southeast Asian businesses, the shift creates new competitive pressures and opportunities for partnership as Chinese companies seek local expertise, talent and networks to build deeper roots in overseas markets.

On cross-border acquisitions, Bin Ma, IE University's Professor and Academic Director of China Observatory, highlights the importance of people who bridge organizational, cultural and institutional divides. "Boundary spanners, or experienced executives dispatched from the acquiring company to work within the newly acquired organization, are likely to be among the most important yet often overlooked sources of competitive advantage," he writes.

José Félix Valdivieso, Chairman of China Observatory at IE University, highlights the cultural dimension of capability export: "Chinese companies must increasingly export knowledge, entrepreneurial spirit, organizational capabilities and management systems."

The full report is available on CKGSB's website.