Small and midsized Chinese companies, including some that had never thought about venturing overseas before, are increasingly exploring opportunities abroad as domestic competition intensifies and sales slump.
Despite tensions between Washington and Beijing, many of them are setting their sights on the US market due to its vast size and higher margins. Several of these hopefuls took part in the CES trade show in Las Vegas this month, taking the opportunity to show off their products, sound out the market and seek partnerships.
“US investors are more receptive to new technologies and they have the financial capacity to withstand potential losses,” a senior manager at Openverse Technology, a Beijing-based company providing 3D simulations, told Nikkei Asia, though he also acknowledged some concerns over geopolitical tensions, particularly in the realm of chips.
Chinese businesses going…