Big, medium or small, domestic companies accelerate their global play acrossindustries
China's most important holiday, the Lunar New Year, is drawing near, but entrepreneur ShuWenbin has no intention of relaxing and taking time out to party. Instead, it's his busiest time ofthe year.
Apart from meetings with potential partners across China, the general manager of ContinentalInterior Design and Construction Ltd also plans overseas trips to the United States and othermarkets to seek out business opportunities he may able to seize after the holiday.
"China's real estate and construction industries have slowed down in the past two years, newresidential and commercial projects are seeing sluggish growth, and investment prospects areuncertain," he said.
"Overseas markets, especially in Southeast Asia and South America will be new growth points.Prospects in European and US markets are also good."
Shu's company, which offers interior design and construction services, started its overseasbusiness in 2012 through its partners, big state-owned enterprises operating overseas. Thecompany has about 150 employees and annual revenue of about 300 million yuan ($45.5 million; 41.8 million euros), of which about 20 percent is from overseas.
It used to enjoy about 30 percent annual growth on average, but in the past two years, with slowergrowth in the construction sector and rising labor and material costs, searching for newopportunities globally has become an attractive option.