Since the beginning of this year, there has been a surge of Chinese companies going overseas, including large Chinese model manufacturers, which have also shown a prosperous scene.
Huang Xiaoming, chief commercial officer of Airwallex China, a global payment and financial platform, revealed in an exclusive interview that the recent overseas business growth of domestic large-scale model companies has shown geometric growth, especially the explosive growth after the Spring Festival.
Under the craze, the pattern of Chinese companies going overseas is undergoing qualitative changes, and so are the financial needs of overseas companies.
Huang Xiaoming believes that the next round of competition among cross-border payment companies is not about who has more payment methods, but about who can take the lead in upgrading cross-border financial infrastructure to an AI-native financial operating system.
From the perspective of cross-border payment institutions, China’s overseas business can be analyzed from two dimensions: physical items and virtual items.
The export of physical goods overseas is essentially the export of China’s manufacturing industry overseas. Developed countries such as Europe and the United States are still the preferred destinations because of their strong consumption power and relatively mature logistics systems.
Emerging markets such as South America still need more exploration.
The overseas expansion of virtual products and culture takes Southeast Asia as the core radiation area and is influenced by the Chinese cultural circle.
The export of games overseas is mainly concentrated in areas where Chinese people live, such as Malaysia, Hong Kong, Singapore, and Indonesia.
Cultural and entertainment exports are also mainly in Southeast Asia, and European and American markets will also be deployed, but most of them will start from countries with higher GDP.
The epidemic has accelerated the transformation of the consumption structure in Europe and the United States, and online consumption has grown significantly.
At the same time, the pattern of Chinese companies going overseas has undergone great changes. From the early days of physical manufacturing, now more brand merchants are going overseas, and the logistics experience is also upgrading.
This shows that domestic brands are becoming more and more competitive and their quality has been recognized by the world.
Chinese companies face opportunities and challenges when going overseas.
The opportunity is that after local deployment, it can become a global enterprise with better service and after-sales experience, but the cost may not be higher.
However, risks cannot be ignored. Different countries have hugely different requirements for payment, foreign exchange, taxation, and data security, and the complexity of capital and risk management has increased.
With the qualitative changes in the pattern of going overseas, the financial needs of overseas companies have also changed.
Payment institutions need to provide more efficient and intelligent solutions to meet the needs of enterprises, such as automatically matching receipts and invoices, and identifying abnormal transactions.
This also propelled Kongkong Yunhui from a cross-border payment company to an AI-native global financial operating system.
Kingkong Yunhui is a financial platform dedicated to building the future of global finance, providing enterprises with integrated global accounts, cross-border payments, fund management and billing capabilities, and creating an AI-native global financial operating system.
Currently, it is building two AI capabilities, one is the AI Assistant launched for users, and the other is T0 finance, which is planned to be launched in the future.
From the perspective of cross-border payment institutions, my country’s AI overseas development is in good condition.
The overseas business growth rate of domestic large-scale model companies has shown geometric growth. The main reason is that domestic large-scale model manufacturers are more cost-effective.
Kongkongyunhui provides overseas payment services for AI companies to help them solve the problem of subscription payment.
Its subscription product Billing can help manufacturers generate complete bill management solutions.
The rise of OpenClaw has activated the payment needs of many manufacturers. Konghui Cloud provides services from two dimensions, issuing wild cards around the world to small and medium-sized enterprises, and providing large model manufacturers with wild card acquiring capabilities.
The next round of competition for cross-border payment companies is to deploy an AI-native global financial operating system to truly become the foundation of the company’s global business model.
