The return of optimism

Qi Yifu, president of Delixi-Electric Ltd, a low-voltage electric products and solutions provider, knows how cutting-edge technologies can be more than just cash cows.

The Anhui-headquartered company, together with parent Delixi Group, has provided over 160 patented technologies for the Shenzhou V and Shenzhou VI spacecraft launch projects.

Switch gears, circuit-breakers and transformers manufactured by Delixi were widely applied in the launch process, radars, missiles and tracking systems of the historic project.

"The implementation of supply-side structural reform creates a favorable macro climate for the whole low-voltage electric industry," said Qi, whose company exports to over 50 countries.

"The deepening of reforms and the government's support for innovation are encouraging the company to upgrade itself to achieve higher efficiency through automation, digitalization and smart manufacturing."

To outperform its peers, Delixi has established its first authorized retail network and an e-service platform to offer customers a one-stop shopping experience. It is also leveraging big data analysis, a rarity in the low-voltage electricity industry across the world.

Such openness to adopting new ways, processes, mindsets and technologies marks Chinese businesses wishing to accomplish the daunting task of going global.

For instance, Luye Pharma, which started out as a maker of traditional Chinese medicine, is now betting on new formulations of drugs for neurological and psychiatric disorders, and international partnerships, to attain its goal of becoming one of the world's top 100 pharmaceutical firms by 2020.

In the world's most populous country with a growing aging population, Luye is not content with being just a supplier in the field of new drugs development, said Jiang Hua, its vice-president. Innovation in formulations, especially in long-lasting and suspended release preparations, is the path Luye is taking, he said.

Luye Pharma sees the current backdrop of global economic uncertainty as a great opportunity for overseas buyouts. The firm's latest acquisition effort in Europe has helped it hedge risks as businesses expand beyond borders.

"We are optimistic about 2017. We aim to acquire or invest in American pharma companies with extensive local networks," Jiang said.

The company is listed in Hong Kong, which gives it strong fund-raising capabilities and various financing opportunities.

Apart from optimism, businesses owners said they also face headwinds. As the yuan depreciated about 6.6 percent last year against the greenback. Fluctuating exchange rate is also a common headache for both Ruijia and PowerArk as they place procurement orders in the future.

"You will need to make a farsighted decision between signing long-term and short-term contracts," Gao of Ruijia said.