At the Asian Financial Forum (AFF) discussion session on &#34;Mainland Chinese Enterprises Going Global,&#34; Li Donghui, Vice Chairman of Geely Auto (175), stated that the globalization of Chinese automotive brands needs to deepen regional layouts to address the challenges of market fragmentation. Li emphasized that, given the overcapacity issues faced by many countries, including those in Europe, simply expanding production in various countries is not the best choice.
He mentioned that Geely, on one hand, relies on its local advantages and effectively utilizes the local operational resources of its international brands, such as leveraging Volvo, Lotus, and Polestar in the European and American markets, and relying on Proton in the Southeast Asian market; on the other hand, it explores innovative business cooperation models with external partners, such as establishing joint ventures with Renault in South Korea and Brazil.
<h2>SERES: It's Time to Establish Chinese Standards</h2>
Zhang Zhengping, President of SERES (9927), stated that in the past, the Chinese automotive industry has always followed industry standards set by Europe and the United States, but now Chinese automobiles are leading in several sub-sectors. &#34;Now is the time to consider establishing our own standards.&#34; Zhang suggested that Chinese brands going abroad can bring the group's best practices and their own standards to local markets, providing the highest level of products and services to local consumers, striving to become industry benchmarks.
Gu Hongdi, Vice Chairman and President of XPeng (9868), stated that Hong Kong is a key bridge in the process of Chinese automotive brands going global. He said that XPeng is headquartered in Guangzhou, has integrated into the development of the Guangdong-Hong Kong-Macao Greater Bay Area, and has become the first Chinese company to achieve dual primary listings in the US and Hong Kong, gaining much support from Hong Kong's financial system and talent pool. Additionally, he mentioned that the global development of AI and market expansion are currently core opportunities for the automotive industry.
<h2>Alibaba: Hong Kong is the Hub for Global Layout</h2>
Alibaba (9988) Chief Financial Officer Xu Hong pointed out that Hong Kong, as an international financial center, is the core hub for the group's global financing and investor communication. Xu stated that after transitioning to a dual primary listing, Alibaba successfully integrated into the connectivity mechanism, and over the past 15 to 16 months, the shareholding ratio of mainland investors through relevant channels has increased to over 11%, providing ample liquidity for the stock and allowing mainland investors to share in the group's development dividends.
He specifically mentioned that Hong Kong has open and inclusive regulatory bodies and numerous professional institutions, providing fertile ground for innovative financing. Over the past two years, Alibaba has raised a total of $10 billion in Hong Kong, including various innovative models such as issuing RMB convertible bonds, offshore RMB bonds, and subsidiary equity swap financing, and has pioneered the issuance of non-US registered bonds during Hong Kong trading hours, attracting enthusiastic subscriptions from European and Asian investors. These financing proceeds have provided solid financial support for Alibaba's large-scale investments in its two core businesses: &#34;AI + Cloud&#34; and e-commerce going global.
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At the Asian Financial Forum, Li Donghui, Vice Chairman of Geely Auto, emphasized that Chinese automotive brands need to deepen regional layouts to address market fragmentation challenges and explore innovative cooperation models with international brand resources and external partners. Zhang Zhengping, President of SERES Group, mentioned that Chinese standards should be established to enhance industry competitiveness. Gu Hongdi, Vice Chairman of XPeng, pointed out that Hong Kong is an important bridge for Chinese automotive brands to go global. Alibaba CFO Xu Hong emphasized Hong Kong's core financing role in the group's globalization layout

- At the Asian Financial Forum, Geely's Vice Chairman Li Donghui emphasized the need for deeper regional strategies to address the fragmentation challenges in global markets, leveraging local operations of their international brands.  
- The President of Seres, Zhang Zhengping, asserted that it is time for China to establish its own automotive standards, reflecting its leading position in multiple sectors.  
- XU Hong, CFO of Alibaba, highlighted Hong Kong's role as a crucial hub for global financing and investor communications, noting significant investment achievements and innovative financing methods over the past two years.

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Domestic enterprises going global: Geely: Automakers need to deepen regional layout, XPeng praises Hong Kong as a key bridge | Asian Financial Forum