德勤 萬(wàn)里匯 -2024年數(shù)字貿(mào)易新圖景報(bào)告 -預(yù)測(cè)亞太數(shù)字貿(mào)易持續(xù)高景氣 Going-Global Seizing the Next Great Opportunity in Digital Trade

WORLDFIRST

Going-Global

SeizingtheNextGreatOpportunityinDigitalTrade

Contents

3.GoingGlobalPotential

Conclusion

ExecutiveSummary

IndexofAsia-PacificDigitalTrade

1.Asia-PacificCross-border

Trade:SustainedHighGrowth

2.CatchingtheWave:ANewLandscapeofChineseTrade

4.SurveyofOverseas

ExpansionofDigitalTradeEnterprises

5.KeyFactorsfortheFutureDevelopmentofDigitalTradeintheAsia-PacificRegion

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ExecutiveSummary

1Asia-PacificCross-borderTrade:SustainedHighGrowth

Despitetherecentslowdowninglobaleconomicgrowth,geopoliticalconflicts,andprotectionistpolicies,whichhavecollectivelydeceleratedinternationaltradegrowthandcross-bordercapitalflows,Asia-Pacifictrademaintainedgrowthmomentum

withstrengtheningregionalcooperation.Theregion’sabundantfactorresourcesand

vastmarketsize,coupledwithregionalfreetradeagreementsanddigitaltechnology

enablement,havemadeitavibrantareafortradeandinvestment,withtightlyintegratedvaluechains.

Currently,thedevelopmentandapplicationofdigitaltechnologiesacceleratedthe

restructuringandupgradingofvaluechains.Ononehand,therapiddevelopmentand

applicationofdigitaltechnologiesprovidedmoremarketparticipantswithopportunities

toengageinglobalvaluechains.Ontheotherhand,theenhanceddigitalizationofvariousoperationalaspectsnotonlyincreasesthevalue-addedcreationofenterprisesbutalso

endowsthemwithdifferentiatedcompetitiveadvantages,makingvaluechainrestructuringfeasible.

AlthoughtheoveralldigitalizationprocessintheAsia-Pacificregionisprogressingpositively,unevendevelopmentofdigitaleconomyamongcountriesaffectsthedigitaltransformationofregionalvaluechains.Oneeffectivemeasuretobridgethedigitaldivideistoenhance

innovationoftechnologyplatformsandfosterregionalcooperationamonggovernments.SomeChineseinternetcompanieshavebeenengagingindigitaleconomiccooperation

abroadthrough“technologygoingglobal”and“capitalgoingglobal”,continuouslybringingconveniencetotheproductionandlivesofpeopleinvariouscountries.

2CatchingtheWave:ANewLandscapeofChineseTrade

Brandinghasalsobecomeaninevitabletrend.AnincreasingnumberofChineseforeign

tradeenterprisesareshiftingfromproductexportstobrandgoingglobal,buildingtheir

ownbrands,andexploringnewforeigntradechannelstoenhancetheprofitabilityofcross-bordergoods.

EmergingmarketsrepresentedbySoutheastAsia,theMiddleEast,andLatinAmerica,withtheirvastmarketpotentialandpromisingdevelopmentprospects,areattractingagrowingnumberofChineseenterprisesseekingbusinessopportunities.Thankstothistrend,thedemandforhigh-qualitylocalserviceecosystemsbytradeentitieswillalsorise.Further

improvingandenhancinglocalinfrastructuresuchaslogisticsandcapitalflowwillhelpunleashgreatertradevitalityandupgradepotential.

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3Going-GlobalPotentialIndexofAsia-PacificDigitalTrade

Basedontheevaluationsystemdescribed,themajoreconomiesinAsiacanbecategorized

intofourtypesregardingtheirgoingglobalenvironmentfordigitaltrade:highpotential

markets,maturemarkets,early-stagemarketsandbuddingmarkets.HighpotentialmarketsincludeIndonesia,Malaysia,Vietnam,Thailand,andthePhilippines.MaturemarketsincludeSingapore,Japan,andSouthKorea,andearly-stagemarketsincludeCambodia,Myanmar,

andLaos,andBruneiisabuddingmarket.

Thehighpotentialmarketsarecharacterizedbylargepopulationsandrapid

development.Theinternetpenetrationratesintheseregionshavereachedsignificantlevels,andthegapwithmaturemarketsisclosingrapidly.

Maturemarketsarealldevelopedcountrieswithhighlevelsofeconomicdevelopmentandlivingstandards,andtheyareveryactiveininternationaltrade.Thesecountries

havereachedamaturelevelofdigitalization,withinternetande-commercepenetrationratesleadingotherAsia-Pacificcountries.

Early-stagemarketsarecharacterizedbylowerlevelsofdigitaltrademarketscaleandmarketmaturity.Thesecountrieshavesmallereconomiesandunderdevelopeddigitalinfrastructure,withextremelylowinternetpenetrationratesandoutdatednetwork

environments,posingsignificantconstraintsonthedevelopmentofdigitaltrade.

However,thee-commercemarketscaleanddigitalpaymenttransactionvolumeinthesecountrieshaveshownastronggrowthmomentum.

Intermsofoverallmarketmaturityandgrowthrate,thebuddingmarketremainsatarelativelyearlystage.

4SurveyofOverseasExpansionofDigitalTradeEnterprises

NorthAmericanandtheEuropeanmarketsarethetoptworegionswhereoverseas

enterprisesconductbusiness,mainlybecauseoftheirstableeconomicenvironmentand

highconsumptioncapacity.FollowedbyJapan,SouthKorea,andSoutheastAsia.AlthoughthemarketsizeofJapanandSouthKoreaisnotasbigasofNorthAmericaandEurope,it

stillrepresentscertainobjectiveopportunities,especiallyforhighvalue-addedproducts.

AlthoughSoutheastAsiahaslowerconsumptionlevelsanddemandforhighvalue-addedproductscomparedtoEuropeandAmerica,theyholdgreatpotentialforfuturegrowth.TheregionswiththelowestproportionsareCentralAsiaandAfrica,withtheprimaryreasonsoflowerconsumerpurchasingpowerandimmaturemarketconditions.

Leveragingadvanceddigitaltechnologiessuchasbigdataanalytics,AI,andIoT,digital

tradeenterpriseshaveestablishednewbusinessmodelsandvaluechains,offeringamorediverserangeofproductsandservicestoglobalconsumers.Bigdataanalyticsiscurrentlythemostprominentandwidelyappliedtechnology,followedbyAI,asthesetechnologies

aredirectlyrelatedtobusinessoptimizationandtheenhancementofcustomerexperience.NextaretheInternetofThings(IoT)andcloudcomputingservicesreceiveinvestmentsofenterprisesinlogistics,warehousing,andITinfrastructure.

However,withtherapiddevelopmentofthemarket,theseenterprisesfacenumerous

challenges,includingpolicyuncertainty,datasecurityandprivacyprotectionissues,andintensemarketcompetition.Butenterprisearealsoactivelyadjustingstrategiestofacewithchallenges,suchaslocalizedoperation,establishmentofindependentwebsites,andfocusingonin-depthand“refined”operations.

5KeyFactorsfortheFutureDevelopmentofDigitalTradeintheAsia-PacificRegion

Cross-borderpaymentprovidershaveexpandedfrombasicpaymentservicestoofferingcomprehensivecross-borderfinancialservices.LeveragingtechnologiessuchasAI,blockchain,bigdataandAPI,thefocushasshiftedtothebusinessscenariosofmerchants.Byintegratingtheupstreamanddownstreamsupply

chains(suchaslogistics,taxation,andadvertising),tocoverthegrowthcyclewithone-stopcross-borderprofessionalservices.

GenerativeAIandSoftwareasaService(SaaS)areplayingthemostsignificantroles.Ontheonehand,businessesleveragethebenefitsofGenerativeAIin

contentcreationtoreducecostsandincreaseefficiencyinmarketingandsales;ontheotherhand,SaaStechnologyexpandstobothfrontandbackends,

creatinganintegratedservicemodelthatincludestrafficacquisition,advertising,andproductdesignatfrontend,aswellaspaymentprocessingandlogisticsatbackend,providingabroaderopportunityforindependentwebsiteoperators.

Thepolicyenvironment,serviceecosystemandservicemodelaremovingtowardsdeeperdevelopment.Fromapolicyperspective,theimplementationof

theRCEPhasheightenedthefocusofASEANcountriesoncross-bordertrade;Intermsoftheserviceecosystem,Chinesehigh-qualitye-commerceplatforms

providecross-bordersellerswithastrongfoundationforenteringanddevelopingthemarketbymeansoffinancialsupport,localizedoperations,andtechnologyexport;Regardingtheservicemodel,fullymanagedservicesandsemi-managedservicesarepromotingsimultaneously,tooffergreaterflexibility.

Theconceptof“l(fā)ocalization”incross-bordere-commercewillfurtherexpand,encompassingtheentirevaluechainfromfront-endoperations(suchaschannelsandmarketing)toback-endsupplychains(includingrawmaterialprocurement,production,logistics,andwarehousing)andenterprisemanagement(suchasteam,legal,andtaxaffairs).

Theexistingindustrybenefitsaregraduallydiminishing,channeldiversification,brandbuilding,and“refined”operationhavebecomecrucialopportunities.In

termsofchannels,thetrendofdevelopingself-operatedplatforms(independentwebsites)isgrowing,withmoretrafficshiftingtobrand-specificindependent

websites.Additionally,thechannellayoutcombiningplatformsandindependentwebsitesisadoptedbymoresellers.Frombrandbuildingperspective,an

increasingnumberofcross-bordersellersareexploringbranded,high-value-addedproducts.Take“refined”operationside,cross-bordere-commerceplatformsandsellershavebeguntothinkabouthowtooptimizeoperationwithdigitaltools.

Inthefaceofanincreasinglycomplexinternationalenvironmentandstringentregulatorytrends,compliancehasbecomeanunavoidabletopicinthecross-bordere-commerceindustry.Cross-bordertradecomplianceinvolvesbothe-commerceplatformsandplatformsellers,necessitatingtheirjointeffortstocollaborateincompliancework,toaddresscompliancerisksmoreeffectively.

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1.Asia-PacificCross-borderTrade:SustainedHighGrowth

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Going-Global—SeizingtheNextGreatOpportunityinDigitalTrade|

Asia-Pacifictrademaintainsgrowthmomentumwithstrengtheningregionalcooperation

Despitetherecentslowdowninglobaleconomicgrowth,geopoliticalconflicts,andprotectionistpolicies,whichhavecollectivelydeceleratedinternationaltradegrowthandcross-bordercapitalflows,theAsia-Pacificregionhasconsistentlyremainedakeydriverofglobaleconomicgrowth.Theregion’sabundantfactorresourcesandvastmarketsize,coupledwithregionalfreetrade

agreementsanddigitaltechnologyenablement,havemadeitavibrantareafortradeand

investment,withtightlyintegratedvaluechains.In2023,theAsia-Pacificregion’simportandexporttradeingoodsaccountedforapproximately40%ofglobaltradeactivities,reachingnearlyUSD18trillion,a30%increasefromtheUSD13.7trillionin2013.Remarkably,duringthechallengingperiodof2018-2023,markedbyrisingprotectionismandtheCOVID-19pandemic,Asia-Pacifictrade

ingoodsstillachievedacompoundannualgrowthrateof4%.AccordingtotheUnitedNations

EconomicandSocialCommissionforAsiaandthePacific(UNESCAP),althoughthescaleofAsia-Pacifictradeingoodsdeclinedin2023,itisprojectedtoreachUSD18.5trillionin2024,reflectingagrowthof5.1%,outpacingtheWorldTradeOrganization’sglobaltradegrowthforecastof2.6%.

TheAsia-Pacificregionisalsoexperiencingrobustgrowthindigitaltrade.Currently,itaccounts

forone-quarteroftheglobaltradeindigitally-deliverableservices.Between2017and2022,the

annualgrowthrateofdigitally-deliverableservicesexportsfromtheAsia-Pacificregionwas10.3%,surpassingtheglobalaverageof7.1%.Theincreasingintra-regionaldemandistheprimarydriverofthisregion’sdigitally-deliverableservicesexports.AccordingtoUNESCAP’sstatistics,theshareofintra-regionalexportsrosefrom36%to39%between2015and2021.ThetopfiveexportmarketswithintheregionareHongKong,China,Japan,Singapore,andAustralia.Externally,theEuropeanUnion(EU)andNorthAmericaarethemostsignificanttradingpartners,accountingfor27%and

20%oftheAsia-Pacificregion’sexportmarket,respectively.

Figure:SteadyGrowthinAsia-PacificTradeVolume

(USDTrillion)(USDTrillion)

20.018.016.014.012.010.08.06.04.02.00.0

18.5

18.8

17.2

17.6

14.5

14.0

13.4

4.0

4.3

3.4

3.5

3.3

3.5

2.7

1.5

1.6

1.6

1.9

2.0

2018201920202021202220232024e

ImportandexportscaleofAsia-Paci?cgoodstrade

——ImportandexportscaleofAsia-Paci?cservicestrade(rightaxis)

ImportandexportscaleofAsia-Paci?cdigitally-deliveredservicestrade(rightaxis)

8.07.06.05.04.03.02.01.00.0

Datasource:UNESCAP,UNCTAD

Note:AccordingtoUNCTAD’sclassification,digitally-deliverableservicestradeprimarilycoverssixcategories:“insurance

andpensionservices”,“financialservices”,“chargesfortheuseofintellectualproperty”,“telecommunications,computerandinformationservices”,“otherbusinessservices”,and“audiovisualandrelatedservices”.

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Going-Global—SeizingtheNextGreatOpportunityinDigitalTrade|

ThesustainedvibrancyofAsia-Pacifictradeandthecontinuousstrengtheningofregionalcooperationcanbeattributedto

severalfactors.Firstly,witheconomicgrowthandrisingincomelevels,theAsia-Pacificregionhasevolvedbeyonditsroleasa

manufacturinghubtobecomeanewglobalconsumptioncenterinrecentyears,makingintra-regionaltraderoutesincreasingly

significant.AccordingtoaforecastbyStandardCharteredBank,theAssociationofSoutheastAsianNations(ASEAN),SouthAsia,EastAsia,andtheMiddleEastareexpectedtoformsignificantglobaltradecorridorsby2030,withaveragegrowthratesprojectedtoremainabove6%from2021to2030.Secondly,regionalfreetradeagreementsledbytheRegionalComprehensiveEconomic

Partnership(RCEP)andtheComprehensiveandProgressiveAgreementforTrans-PacificPartnership(CPTPP)continuetoyieldpolicybenefits,graduallyenhancingtheregionalvaluechaincooperationsystem.RCEP,whichcameintoeffectin2022,iscurrentlytheworld’slargestfreetradeagreement,withallmemberscommittedtoloweringtariffs,openingmarkets,andreducingstandardbarriers,thuscontributingnewmomentumtoglobaleconomiccooperation.

Figure:MajorGlobalTradeCorridorsby2030

TradeCorridors

AverageGrowthRate(2021-2030)

TradeVolumeby2030

Intra-ASEAN

8.7%

USD800billion

SouthAsia-ASEAN

8.6%

USD300billion

SouthAsia-TheMiddleEast

7.0%

USD500billion

EastAsia-ASEAN

6.3%

USD2.1trillion

Datasource:FutureofTrade2030:TrendsandMarketsbyStandardChartered

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WiththebenefitsofRCEPpolicies,Chinesebusinesses

continuetoexpandtheiroverseasoperations.For

instance,inthefirsthalfof2024,thenumberofChinese

businessesconductingbusinessoverseasthroughWorldFirst

grewby76%year-on-year.Additionally,thenumberofsellers

operatingonmorethantwoplatformsincreasedby17%,and

thosepursuingbranddevelopmentsurgedby138%.ThetopfivecategoriesofgoodsexportedtoRCEPregionsincluded:“apparel,footwear,andaccessories”,“householdgoods”,“consumer

electronics”,“gifts,partysupplies,novelties,andsouvenirs”,and“automotiveparts”.

TradevolumesinRCEPcountriesandregionshave

consistentlygrown,withemergingmarketsshowing

significanttransactionvolumeincreases.Inthefirsthalfof2024,theoveralltransactionvolumeof“micromultinationalenterprises”inRCEPcountriesandregionsincreasedby190%year-on-year.Additionally,thetransactionvolumeinemergingmarketssuchastheMiddleEast,LatinAmerica,andAfricaalsogrewbymorethan100%year-on-year.

Going-Global—SeizingtheNextGreatOpportunityinDigitalTrade|

Figure:RCEPPoliciesReleaseBenefits,andNearly70%ofEnterprisesReportCostSavingsinTrade

TheEffectofRCEPTariffReductionsonCostSavingsforEnterprises

Foodprocessingandmanufacturingindustry, electroniccomponentsmanufacturingindustry,electricalmachineryandequipment manufacturingindustry/equipmentrepair industry,andcomputer/communicationand otherelectronicequipmentmanufacturingindustry

Textileandgarment/shoemanufacturing industry,woodprocessing/furniture manufacturingindustry,automotivemanufacturingindustry,wholesaleandretailindustry(includingtradingcompanies)

Chemicalrawmaterialsandchemicalproductsmanufacturing,wholesaleandretailindustry(includingtradingcompanies)

Agriculture,high-endagriculturalproductprocessing

23.5%

savings

savings

Uncertain

Nocostsavings

Minimalcostsavings

Somecostsavings

Considerablecost

Significantcost

26.7%

Foodprocessingandmanufacturingindustry,electroniccomponentsmanufacturing

industry,electricalmachineryandequipmentmanufacturingindustry/equipmentrepair

industry,andcomputer/communicationandotherelectronicequipmentmanufacturingindustry

Textileandgarment/shoemanufacturingindustry,woodprocessing/furniture

manufacturingindustry,electricalmachineryandequipmentmanufacturingindustry/equipmentrepairindustry,automotivemanufacturing

industry,wholesaleandretailindustry(includingtradingcompanies)

Textileandgarment/shoemanufacturingindustry,agriculture,high-endagriculturalproductprocessing

Electroniccomponentsmanufacturingindustry

8.4%

6.0%

20.1%

18.0%

29.5%

28.7%

7.3%

7.5%

12.3%

12.0%

Rawmaterials,intermediategoods,andcomponentsusedinproduction

Finalproductsusedforconsumption

Datasource:EnterpriseSurveyReportonChina’sOne-YearImplementationofRCEPbytheMinistryofCommerceofChina

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Thedevelopmentandapplicationofdigitaltechnologiesacceleratetherestructuringandupgradingofvaluechains

Currently,digitaltechnologiessuchas5G,industrialinternet,bigdata,artificialintelligence(AI),theInternetofThings(IoT),augmentedreality(AR),cloudcomputing,andblockchainareempoweringtherealeconomy.Thesetechnologiesaredrivingtheevolutionofinternationaldivisionoflaborandtherestructuringandupgradingofglobalvaluechainswithnewlogic.

Ononehand,therapiddevelopmentandapplicationofdigitaltechnologiesprovidemoremarket

participantswithopportunitiestoengageinglobalvaluechains.Digitalplatforms,exemplifiedby

cross-bordere-commerce,cantranscendspatialandtemporalconstraints,reducingvariouscosts

Traditionalmodel

anduncertaintiesassociatedwithinternationaltransactions,therebyfacilitatingtheinterconnectionofglobalparticipants.Thisisparticularlybeneficialfornumeroussmallandmedium-sizedenterprises(SMEs),astheonline,small-batch,andhigh-frequencynatureofcross-bordere-commerceoffers

themthechancetopartakeintheglobaldivisionoflabor.Consequently,anincreasingnumberofSMEsareleveragingplatformcompanies,theirinternationalserviceecosystems,anddigitaltoolstodeeplyintegrateintoglobalvaluechains.

Ontheotherhand,digitaltechnologiesarerevolutionizingenterprises’researchanddevelopment(R&D),production,andmarketingmodels.InR&D,companiesusebigdataandcloudcomputingtocollectandanalyzeconsumerbehaviordata,andthenoptimizeproductdesignanddevelopmenttomeetthepersonalizeddemandsofnichemarkets.Inproduction,companiesemployIoTtechnologytoachieveindustrialautomation,replacinglow-skilledlaborwithautomatedequipmenttoenhanceefficiencyandquality.Inmarketingmodels,companiesutilizeAItoanalyzecollectedconsumer

data,enablingpreciseidentificationoftargetcustomergroupsandpersonalizedmarketing,therebyimprovingtheconversionrateofmarketingactivities.Theenhanceddigitalizationofvarious

operationalaspectsnotonlyincreasesthevalue-addedcreationofenterprisesbutalsoendowsthemwithdifferentiatedcompetitiveadvantages,makingvaluechainrestructuringfeasible.

Figure:RestructuringandUpgradingofValueChainsintheDigitalEconomyEra

Productionand

manufacturing

R&Danddesign

Marketing

Digital

economy

era

After-salesservice

?ClosedR&D

?Designerdominance

?Entrepreneurialnewfactorcombination

?User-involvedR&Danddesign

?R&Danddesignunderopen

innovation

?Integrated

innovationacrosslarge,medium,andsmallenterprises

?Platform-based

open-sourcedesignandinnovation

?Inventorymanagement

?Rawmaterialprocurement

?Machineryandequipment

?Assemblylineproduction

?Assemblyandpackaging

?Large-batchandlarge-scalecustomization

?Industrialinternet

?Smartandintelligentproduction

?Automationof

productionequipment

?Lighthousefactories

?Supplyanddemandmatching

?Co-existenceofsmall-scalepersonalizationandlarge-scale

customization

?Flexibility

?Traditionalmedia

?Advertising

?Sponsorshipandendorsements

?Digitalmarketing

?Online-offlinesynergy

?Precisetargeting

?Digitalbrandecosystem

?Offlinepoint-to-pointandregionalserviceoutlets

?Online-offlinesynergy

?Shared

consumption

?Digitaldelivery

Datasource:PublicinformationcompiledbyDeloitte

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Going-Global—SeizingtheNextGreatOpportunityinDigitalTrade|

Unevendevelopmentofdigitaleconomyamongcountriesaffectsthedigitaltransformationofregionalvaluechains

AlthoughtheoveralldigitalizationprocessintheAsia-Pacificregionisprogressingpositively,thelevelofdigitaleconomydevelopmentvariessignificantlyamongcountrieswithintheregion.SomeSoutheastAsiannationsfacechallengessuchasinadequatedigitalinfrastructure,ashortageofdigitaltechnologytalent,andinsufficientlocaldigitalproductioncapabilities.Theseissueshinderthefullrealizationoftheirdevelopmentpotentialintermsofdigitaleconomy.

Firstly,thedevelopmentofinformationinfrastructureinsomeSoutheastAsiancountrieslags

behind.AccordingtotheICTDevelopmentIndexpublishedbytheInternationalTelecommunicationUnion(ITU),thescoresforthePhilippines,Cambodia,Laos,andMyanmargenerallyfallwithinthe65-70range,whileSingaporeandMalaysiascoreabove90.Secondly,constrainedbyeducation

levels,mostSoutheastAsiancountrieslackskilleddigitaltechnologypersonnel,particularlyinfieldssuchassoftwareengineeringanddatamining,whichsignificantlyhamperstheirdigitaleconomy

competitiveness.AsurveybytheAmericanresearchandeducationinstitutionWileyindicated

that,asidefromSingapore,Malaysia,andBrunei,otherSoutheastAsiancountriesrankpoorlyintermsofhavingsufficienttalentswithdigitalskills(suchascomputerskills,basiccoding,anddigitalreading)1.Additionally,thelowlevelofdigitalizationamongSMEsinSoutheastAsialimitsthedepthandbreadthoftheirdigitaleconomydevelopment.A2023surveyofSMEsinSingapore,Indonesia,Malaysia,Thailand,andVietnamrevealedthat,exceptforSingapore,about80%ofSMEsinthe

otherfourcountrieswereeither“onlydigitalizingafewfunctions”,“justbeginningdigitalization”,or“notyetdigitalized”.Furthermore,one-fifthoftheSMEsinthesecountriesonlybegandigitalization inthepasttwoyears2.

Thelagindigitaleconomydevelopmenthasleftthesecountriesinaprolonged“offline”state,

hinderingtheirabilitytoparticipateintheglobaldivisionoflaborusingconvenientandefficient

internetresources.Foreigncontractingfirmsareunabletopreciselymanageandremotelyoperateproductionlinesinthesecountries,norcantheysellproductsviacross-bordere-commerce.Thislimitationrestrictsthedigitaltransformationofregionalvaluechainsandmaywidenthe“digital

divide”,makingitdifficulttosharethebenefitsofthedigitaleconomy.AccordingtotheAsia-PacificTradeandInvestmentReport2023/24releasedbyUNCTAD,UNESCAP,andUNIDO,in2022,thetopsixeconomiesaccountedfor85%oftheAsia-Pacificregion’sdigitally-deliverableexports,whiletheleastdevelopedcountriescontributedlessthan1%.

Oneeffectivemeasuretobridgethedigitaldivideistoenhanceinnovationoftechnologyplatformsandfosterregionalcooperationamonggovernments.SomeChineseinternetcompanieshave

beenengagingindigitaleconomiccooperationabroadthrough“technologygoingglobal”and

“capitalgoingglobal”,continuouslybringingconveniencetotheproductionandlivesofpeoplein

variouscountries.However,companiesexpandingoverseasmustbemindfulofthecomplexfactorsinvolvedindigitaleconomycooperation,suchasfinancial,political,andcybersecurityissues.

Additionally,digitalsovereigntyanddatarulecompetitionarebecomingincreasinglyfocalpointsofconcernforcountries.

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1Wiley,DigitalSkillsGapIndex2021,

/global-rankings/

2TDCX,ASEANSMEs:SmallBusiness,BigOpportunityforTechProviders,

/intuitreport/

2.CatchingtheWave:

ANewLandscapeofChineseTrade

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Redefininginternationalizationthroughglobaloperations

AstheinternationalizationofChinesemanufacturersandtradersreachesamorematurestage,anincreasingnumberofenterprisesareembarkingonadeeperlevelofinternationalization—transitioningfromproductexporttoestablishingoperationsoverseas.Thisinvolvescontractfulfilmentsupportedbytheintegrationof“l(fā)ocalentities,localoperations,andlocalsupplychains”.Forinstance,

accordingtodatafromWorldFirst,thenumberofChinesemerchantsusingWorldFirsttoexpandtheiroverseasoperationsinthefirstquarterof2024increasedby56%year-on-year3.

Fromtheperspectiveofinternalenvironment,ononehand,moredomesticmanufacturersnowpossessthecapabilitytocompete

withglobalenterprises.Ontheotherhand,withtheincreasingcompetitioninthedomesticmarket,enterprisesseekingtoachieve

high-qualitydevelopmentandreducecostpressuresmustexplorebroaderoverseasmarkets.Externally,theCOVID-19pandemicandgeopoliticalconflictshaveexposedthefragilityofcross-bordersupplychains.Theverticalintegrationmodel,whichensurestimely

orderfulfilment,hasledmanycompaniestoestablishverticalindustrychainsoverseas.Additionally,since2018,increasingtrade

frictionshavesubjectedChineseexportstotariffbarriersandstricteroriginregulations.Tocircumventthesebarriers,manyChinesecompanieshavestartedsettingupfactoriesabroad.

Intheprocessofglobalope