China’s Global Expansion in 2024: From Emerging Markets to Cultural Influence

In 2024, Chinese businesses accelerated their global expansion across diverse industries. This is highlighted by the remarkable statistic from China’s General Administration of Customs: cross-border e-commerce imports and exports reached RMB 1.88 trillion in the first three quarters, reflecting an impressive 11.5 percent year-on-year increase—outpacing China’s overall foreign trade growth rate of 6.2 percent. Of this, astounding exports accounted for RMB 1.48 trillion, showcasing a remarkable growth of 15.2 percent, highlighting the increasing global appetite for Chinese goods. 

‘Go Global or Go Home’ became a rallying cry in boardrooms, driving fierce competition among Chinese brands seeking to make a mark overseas. According to the 2024 Cross-Border E-Commerce Industry Q3 Report by Hugo Cross Border, over 50 percent of Chinese sellers reported impressive growth in both revenue and profit, underscoring the intensified race for market dominance in the global scene. 

From e-commerce giants to tech innovators and cultural exports, 2024 marked a defining year for China’s international presence. Here are the key takeaways highlighting China’s strategic pivot towards global markets and the multifaceted growth drivers challenging its brands. 

Emerging Markets: The Next Growth Frontier 

While the U.S. and Europe remain key markets, 2024 saw a strategic pivot towards Southeast Asia, the Middle East, and Africa. With favorable demographics, rising digital penetration, and policy incentives, these regions have become prime targets for Chinese companies. 

Due to its diverse markets and consumer demand, Southeast Asia has become a hotspot for Chinese beauty, automotive, and beverage brands. With a young and increasingly affluent consumer base, brands focused on affordability and quality gained rapid traction. In the Middle East, digital entertainment platforms like Yalla, Mico, and Holla, which offer social media and live-streaming services, thrived by deeply integrating local user preferences. Meanwhile, TikTok cemented its dominance, with 35.1 million users in Saudi Arabia alone as of early 2024, according to ByteDance advertising data. 

Africa also presented exciting opportunities, with e-commerce poised for explosive growth. The United Nations Economic Commission for Africa projects a 50 percent increase in e-commerce transactions by 2025, growing from 334 million online shoppers in 2021 to 519 million by 2025—a staggering 56 percent growth in online shoppers. Leading the charge in this digital shift is Transsion Holdings, which has captured over 50 percent of Africa’s smartphone market by tailoring devices to local needs, such as AI-driven beauty filters optimized for darker skin tones and multi-SIM capabilities. 

E-Commerce Giants: Growth and Uncertainty 

2024 highlighted the changing landscape of China’s cross-border e-commerce, with both growth and challenges looming large. The so-called “Four Dragons”—Shein, Temu, TikTok Shop, and AliExpress—continued their rapid expansion, challenging Amazon’s dominance. However, fierce competition and shifting regulations brought new hurdles. 

Shein, the ultra-fast fashion empire, saw revenue growth slow from 40 percent in 2023 to 23 percent in 2024, with first-half earnings totaling $18 billion. Reports indicate that Shein’s profitability declined by over 70 percent, while TikTok Shop’s strong international revenue growth was overshadowed by mounting regulatory scrutiny, signaling the sector’s maturation. 

Similarly, Temu, which made headlines with a multimillion-dollar Super Bowl ad campaign, struggled to maintain momentum. According to 36Kr, Temu’s gross merchandise value (GMV) plateaued at around $130–140 billion in Q3, with quarterly growth slowing to 15 percent—a stark contrast to the 50 percent growth it enjoyed in the previous quarter. 

Meanwhile, AliExpress continued refining its hybrid “full-service and semi-managed” model. Alibaba’s Q2 2025 fiscal report showed that international digital commerce revenue grew 29 percent year-over-year to RMB 31.67 billion. However, the division remained unprofitable due to high operational costs and challenges associated with overseas expansion, reflecting the competitive landscape. 

For TikTok Shop, strong international revenue growth—exceeding 60% in the first half of 2024—was overshadowed by mounting regulatory scrutiny. As global policymakers debated platform governance, TikTok’s future remained uncertain despite its continued success in social commerce, which has been fueled by advancements in technologies and cultural exports that define China’s expanding presence globally. 

Tech Dominance: China’s Global Innovation Push 

In addition to expanding e-commerce, Chinese technology firms continued their aggressive internationalization, particularly in electric vehicles (EVs), autonomous driving, and artificial intelligence. 

EVs remained a key pillar of China’s global tech dominance. BYD, the world’s largest EV manufacturer, sold 4.27 million units in 2024, a 41.26 percent increase from the previous year. Overseas sales exceeded 300,000 units, doubling year over year. NIO and XPeng also gained traction in premium markets through advanced smart driving systems and tailored localization strategies. China EV100 Vice Chairman Zhang Yongwei projected that EV exports would reach 1.8 million units in 2024, a 50 percent increase over the previous year. 

China also led the global drone market. DJI retained its 70 percent global market share, with its Mavic 3 series dominating precision agriculture and surveying applications across Europe. The Middle East emerged as a key market, where DJI drones were pivotal in infrastructure development projects. 

Autonomous driving also had a breakthrough year. On October 25, WeRide became the first autonomous vehicle company to list on the Nasdaq, cementing its position as a leader in global robotaxi services. By December, WeRide and Uber had launched a joint self-driving ride-hailing service in Abu Dhabi, marking the first deployment of autonomous vehicles on Uber’s platform outside the U.S. Today, WeRide operates in seven countries and 30 cities worldwide, setting the stage for further expansion. 

Cultural Exports: The Rise of Chinese Soft Power 

Beyond commerce and technology, 2024 saw a remarkable surge in China’s cultural influence. Chinese entertainment, gaming, and IP licensing creators are crucially reshaping global perceptions of creativity. 

Short-form drama was one of the most notable success stories. According to Sensor Tower, platforms like ReelShort captured a dominant 50 percent market share in global mobile drama apps, with revenues exceeding $170 million. Meanwhile, gaming remained a powerhouse export, with Black Myth: Wukong becoming one of the year’s most anticipated titles. 

The momentum in Chinese IP licensing gained traction, demonstrating an evident increase in global adoption. According to the 2024 China Brand Licensing White Paper, homegrown IPs saw increased global adoption, with Pop Mart’s Labubu emerging as a breakout success. In July, Pop Mart’s first overseas Labubu-themed store in Bangkok generated record-breaking revenue, making it its most profitable overseas location. 

The food and beverage industry also saw major international strides. Hotpot giant Haidilao expanded to 50 U.S. locations, generating over $500 million in revenue and becoming a cultural hub for overseas Chinese communities. Meanwhile, the number of Chinese restaurant franchises in Southeast Asia and the Middle East surged, highlighting the increasing globalization of China’s culinary scene. 

The global expansion efforts of Chinese businesses in 2024 underscored both immense opportunities and new challenges. While emerging markets and technological breakthroughs fueled growth, increased competition, and regulatory uncertainties signaled a need for strategic adaptation. 

To thrive in the global market, Chinese companies must navigate this evolving landscape and strike a balance between aggressive growth and sustainable practices. Those who master the delicate equilibrium between deeper localization, stronger brand differentiation, and regulatory resilience will shape the future of Chinese companies’ global footprints.