SHENZHEN, China & SAN FRANCISCO--(BUSINESS WIRE)--At the end of 2016, for the first time in China’s modern history, Chinese investment to the world economy will eclipse direct foreign investment. This mega-trend will continue to have significant long–term effects as more and more Chinese companies expand globally to serve a worldwide consumer base. The city of Shenzhen, China’s first-ever Special Economic Zone, has been a driving force in China's Economic Reform over the past 30 years and has quickly emerged as the country's hub for business development, technology, and innovation.
“China has gotten to the point where genuine innovation is occurring in its economy which is much needed. It appears that Shenzhen is at the epicenter of the innovation revolution in China,” said Bill Powell, the Asia Editor & Chief International Correspondent of Newsweek Magazine.
Looking specifically at four industries (based on China’s five-year plan for growth and development), CSOFT International, a globalization service provider with offices in Asia and throughout the Americas and Europe, created an index of companies – labeled as a Shenzhen 100 Riser™, or a Shenzhen 100 Transformer™ – whose innovative ideas have the best potential for global expansion.
Amongst the Shenzhen 100 Transformer™ list is Chinese conglomerate Tencent, the country’s largest internet and mobile-gaming company and a true testament to the success that is emerging from the city. Tencent recently acquired 84 percent of mobile-game developer, Supercell, which Venturebeat noted, “…isn’t just about capitalizing on China. Gaming is global, and the company is growing far beyond its home country now.”
As the global business and entrepreneurial center of China and a top 4 contributor to China’s national GDP, Shenzhen is undeniably a thriving environment for global expansion. CSOFT wanted to measure and further understand the large concentration of Chinese companies driving innovation throughout the city. They embarked on an in-depth research mission measuring Shenzhen companies not by asset or revenue, but by each company’s global maturity index (GMI™).
"Innovation doesn’t mean it’s already a great company, innovation means it's a company that is doing something that no one else has done. Through the Shenzhen 100™, CSOFT has a chance to identify innovation and assist those unique companies as they move towards becoming great," said Michael Kuan, CEO of Kuan Capital, a multibillion dollar hedge fund creating investment opportunities across technology, health, and sustainability industries.
On June 22nd, CSOFT hosted the China Globalization Forum to discuss and showcase Chinese companies’ innovations which coincided with the launch of the first ever China GMI™. Keynote speakers included Marisa Drew of Credit Suisse, Wang Huiyao the Founder and President of Center for China Globalization, and Wang Shi, the Founder & Chairman of China Vanke to lead the Forum’s discussions on the current business climate in China – specifically the climate in Shenzhen.
“Shenzhen is constantly producing products which add value to the market. We want to combine the use of proven metrics from global consulting companies and our own expertise as a globalization service provider to help companies and investors alike understand the potential that Chinese companies have,” said Shunee Yee, President and CEO of CSOFT.
Following a lively media Q&A session, the event’s speaking portion came to a close and attendees poured through the reception area for a hands-on product exhibition from some of the city’s top companies. Among the displays were Breo Technology’s luxury portable massage machines and a sneak preview of Marisfrolg’s designer fashion line. Guests also got to experience Royole’s “virtual mobile movie theater” and Super D’s glasses-free 3D hardware; just a small sample of the cutting-edge technology that is ready to make a big impact around the world.
For more information on the Shenzhen 100™, please visit http://www.csoftintl.com/sz100/ to register and receive a copy of the Executive Summary. To learn more about the companies on our list, please contact the people below.
CSOFT International Ltd. is a world leader in localization and globalization consulting services, providing turnkey solutions for companies facing the challenges of engaging customers and markets across linguistic and cultural barriers. Recognized as one of the Top Innovative Companies in 2011 by IDC we have an award-winning international team. In 2012, the company’s CEO was named one of Fortune Magazine’s 10 Most Powerful Women Entrepreneurs and a Tech Disruptor by CNN Money.