New rules of expansion: Chinese firms urged to ‘go local’ as they chase sales abroad

As dwindling domestic profits push more Chinese firms onto the global stage, industry titans – forerunners who know what such a shift entails – are offering crucial advice for navigating challenges abroad. “The most important thing is to become a local company,” said Zhu Lei, chief marketing officer for air conditioner giant Gree Electric Appliances, which was among the first Chinese companies to enter the Latin American market. The advice comes as Chinese firms are expected to ramp up their...