Successful Experiences, Challenges, and Policy Expectations for Chinese Firms Going Global Under the Belt and Road Initiative

This chapter explores the internationalization of Chinese firms under the Belt and Road Initiative (BRI), drawing on surveys and interviews with 97 outbound companies. Since 2013, China’s outbound investment has accelerated, shifting from state-owned dominance toward a stronger presence of private firms and diversified entry modes like greenfield investment and M&A. Competitive advantages driving this growth include China’s comprehensive industrial value chain, high commercial credibility, and flexible delivery capabilities. However, firms face significant challenges, including political instability, legal/tax compliance risks, financing difficulties, and cultural conflicts. The chapter identifies new growth drivers in digital technology, green energy (particularly new energy vehicles), and the export of “service + operations” models and full industrial ecosystems. To support sustainable growth, the authors propose policy recommendations, including the creation of a dedicated “China Bureau for Overseas Companies,” enhanced intergovernmental legal cooperation, and expanded financing channels. Ultimately, the chapter emphasizes the need for firms to integrate ESG standards and brand building to enhance their global competitiveness and reputation.