Harvard’s China Business Forum charts new cross-border paths

China faces an array of challenges. In October, exports contracted for the first time in eight months, down 1.1% from a year earlier, driven by a 25% decline in shipments to the U.S. Despite a temporary truce between Washington and Beijing — with the U.S. reducing tariffs on Chinese exports and China suspending export controls on rare earth metals — analysts expect a tough fourth quarter as frontloading fades and consumer demand remains sluggish. Against this backdrop, Harvard Business School held its inaugural China Business Forum on October 25 in Shanghai, examining China’s evolving relationship with global markets. Themed “China and the World,” the event convened business leaders and thought pioneers to discuss the challenges and opportunities for global and Chinese business navigating this uncertain landscape. Why copy-and-paste won’t cut it in China Among the topics of discussion, panelists from McDonald’s China, Bulgari Fragrances, and Boston Consulting Group highlighted a shift in brand strategy: global businesses are moving from executing a global playbook to actively co-creating with China. This reflects the changing expectations of Chinese consumers, who not only seek functional benefits from products but also experiential value, cultural resonance, and emotional connection. To put this into action, global brands must grant more autonomy to their local teams, including empowering China operations to be headed by Chinese talents. At the same time, local teams need to evolve from passive executors to active co-creators, embracing an entrepreneurial spirit. Chinese enterprises forge their own paths Chinese brands are entering a new phase of international expansion thanks to integrated supply chains, advanced digital infrastructure, and strong product innovation. However, deep challenges persist, including building brand trust overseas, localizing effectively, and navigating geopolitical and regulatory uncertainty. As the panelists noted, expansion can take many forms: consumer brands entering new markets through global IP partnerships; tech firms designing with global users in mind from the get-go; and beauty labels standing out through differentiated storytelling. However, “not every success model can be replicated,” said Davis Lin, senior vice president of Tencent, in a keynote speech. He said that for Chinese companies going global, success hinges on constant learning — “respecting differences, exploring diverse paths, and complementing capabilities” — rather than a one-size-fits-all playbook. Optimism for China’s next chapter The globalization of Chinese firms is also injecting fresh momentum into capital markets. According to the forum, over half of newly listed companies in Hong Kong this year have international business exposure, with overseas markets contributing to roughly 50% of their revenue. Adding to this, the emergence of capital from the Middle East and the growing presence of RMB-denominated funds is fostering a more diversified investment environment, signaling deeper integration between China and the world. Amid slowing domestic growth and global disruption, the forum conveyed optimism about China’s future and its enduring role on the global stage.

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Harvard’s China Business Forum charts new cross-border paths