Fair chance for Chinese companies to go global

As digital services become a new growth point for trade, a group of Beijing-based tech companies plan to “go global” and seek opportunities brought by the ongoing China International Fair for Trade in Services.

Among the tech companies is Hanwang Technology, which has brought its smart park solutions and facial recognition devices to the fair.

Hanwang’s consumer-use digital painting products and service has been sold to more than 60 countries in the world, said Huang Lei, vice-president of the company.

For the first half of this year, the company realized total sales revenue of 314 million yuan ($46 million) from overseas markets.

“Based on our good performance, we plan to take more advanced technologies and applications to foreign countries such as facial recognition devices,” he said.

To meet demand, the company set up a manufacturing base in Shenzhen, targeting the increasing sales in overseas markets.

Hanwang is based at Zhongguancun Software Park. The park is located in the capital’s Haidian district, which is well-known for its science and technology.

The park has cultivated a large number of digital technology companies over the past two decades.

In 2019, the total output value of the park reached 287 billion yuan and its GDP per square kilometer reached 110.4 billion yuan.

This 2.6 sq km software park is home to more than 700 domestic and foreign IT businesses, including 66 listed companies and 80 whose annual business revenues surpass 100 million yuan.

“More than 95 percent of the companies at the park are digital service providers,” said Wang Wei, director of the park’s industrial services department.

“Digital services could be divided into three categories — namely digital technology, digital content and traditional software service outsourcing,” he said. “Digital technology refers to technologies

More than 95 percent of the companies at the park are digital service providers.”

Wang Wei, director of Zhongguancun Software Park’s industrial services department

that include cloud computing, blockchain, artificial intelligence and mobile internet while digital content is what is provided by companies like Chinese videosharing mobile apps Kuaishou and Douyin, as well as social media website Weibo.

“As for traditional software service outsourcing, Zhongguancun Software Park was once known as the ‘cradle of software service outsourcing’.”

The park’s digital services have spread across all continents of the world, becoming a new and key player in China’s digital service exports.

In April, Zhongguancun Software Park was approved as one of the first 12 national digital service export bases. It is the only one in Beijing on the list.

Different from traditional trade, digital services are becoming a new area of growth. Along with Hanwang, there are many other companies that have the same plan to go global.

This year, more than 10 companies from the software park are participating in the fair, exhibiting cutting-edge technologies and cultural innovations through videos, product displays, interactive experiences and posters.

NetEase Youdao is making its debut at CIFTIS this year. While digging into the domestic market, the company uses the platform to further expand its digital products and services to countries and regions such as Japan, South Korea and Singapore.

“In terms of digital services, the software park has unique advantages,” Wang said. “We want to create a platform and provide services that are conducive to the development of digital service exporters.”