Ben Harburg, managing partner at MSA Capital speaks to CNBC’s Evelyn Cheng at the annual East Tech West retreat in the Nansha district of Guangzhou, China on Dec. 1, 2021. Harburg discussed Chinese tech companies’ ambitions to go global.
CNBC
GUANGZHOU, China — Chinese technology companies are considering expanding overseas much earlier in their lifecycles, a venture capitalist told CNBC — marking a shift in attitude among firms in the world’s second-largest economy.
That shift has been prompted in part by China’s tighter regulatory scrutiny on technology as well competitive pressure in certain sectors, according to Ben Harburg, managing partner at venture capital firm MSA Capital.
“It’s also forcing Chinese companies much earlier in their lifecycle to think about going global,” Harburg said at CNBC’s annual East Tech West conference in Nansha, south China.
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Harburg said that a few years ago, his venture capital firm was working with social media or cross-border e-commerce companies that were more mature. But today, early-stage companies in sectors from artificial intelligence to health care are going global or “thinking about plotting their globalization strategy,” he said.
Such Chinese firms could find that...
Read Full Story: https://www.cnbc.com/2021/12/06/chinese-tech-companies-are-just-starting-to-go-global-vc-says.html
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