With domestic profits narrowing and production capacity expanding, China’s firms are continuing to widen their overseas footprints in search of new, more lucrative markets. In this series, we examine China Inc.’s next phase of “going global” and the complex, challenging international environment its companies have chosen to enter.
On a weekday afternoon, the basement food hall of a central shopping centre was packed. Office workers queued for Chongqing noodles, while a different noodle joint from a major Chinese hotpot chain drew its own crowd.
At opposite ends sat two restaurants specialising in fish: one founded in Shenzhen and the other serving the dish Sichuan-style. Across the aisle, a milk tea shop from Xiamen served iced drinks alongside a busy Luckin Coffee counter.