Chinese products enter overseas high-end markets

Edited and translated by People's Daily Online

Hisense South Africa, a Johannesburg-based subsidiary of the leading Chinese electronics manufacturer Hisense, has managed to break into the local high-end TV market thanks to its latest 3D TVs.

“We have been holding a 24 percent share in the South African LED market for several months, only second to Samsung,” Hisense SA’s president said.

The label “Made in China” is no longer synonymous with cheap products, and Chinese products are gradually entering overseas mid-range and high-end markets.

Over the past few decades, China has taken solid steps and made significant progress in implementing its “going global” strategy of encouraging domestic companies to invest abroad.

In 2011, Chinese investors invested in nearly 3,400 foreign companies in the non-financial sector of 132 countries and regions, with total outbound direct investment totaling over 60 billion U.S. dollars, up nearly 2 percent from the previous year.

By the end of 2011, Chinese investors set up a total of 18,000 businesses in 178 countries and regions across the world, bringing the country's accumulative non-financial outbound direct investment to 322 billion U.S. dollars.