<div id="readability-page-1" class="page"><div id="news-body"><p>(Yicai) May 6 -- Overseas revenue as a share of total income at Chinese mainland-listed businesses rose to a record high of nearly 17 percent last year, at a time when growth in the domestic market has slowed.</p><p>Combined overseas revenue at the firms reached almost CNY12.4 trillion (USD1.8 trillion) in the 12 months ended Dec. 31, marking the first time it has surpassed CNY12 trillion, according to data released on May 4 by Shujubao, a financial information provider run by Securities Times.</p><p>At the same time, revenue increased by less than 2 percent at the companies overall last year compared with 2024, indicating that overseas business has become the main growth driver.</p><p>Income from overseas markets accounted for only 3 percent to 4 percent of total revenue 20 years ago, but had climbed to 15 percent by 2024, Robin Xu, head of China research at UBS Securities, said at a UBS conference in Shanghai earlier this year.</p><p>This growth is partly because of China’s long-running encouragement for companies to “go global,” he said, as well as the “China Plus One” strategy, under which firms diversify manufacturing beyond the home market to at least one other country.</p><p>Swiss banking group Julius Baer noted in a report last December that overseas markets are less saturated, allowing Chinese firms to earn higher margins than in the domestic market.</p><div><p>By industry, the electronics sector has ranked first for overseas revenue for two consecutive years, surpassing CNY2 trillion (USD293.5 billion) for the first time in 2025 and contributing nearly 48 percent to total revenue, the Shujubao data showed.</p><p>The petroleum and petrochemical, automotive, and transportation sectors all reported overseas income in excess of CNY1 trillion. In addition, the contribution of overseas revenue in the auto, machinery, light manufacturing, and electrical equipment industries reached new highs.</p></div><div><p>Twenty-two of the listed firms reported overseas revenue exceeding CNY100 billion (USD14.6 billion) last year. China National Petroleum Corporation led the way with over CNY970.2 billion, followed by tech firm Foxconn Industrial Internet with CNY396.4 billion, according to the data.</p><p>Automaker BYD's overseas income surpassed CNY300 billion for the first time, and Zijin Mining entered the top five for the first time with nearly CNY198.7 billion, while its net profit topped CNY50 billion (USD7.3 billion) for the first time.</p></div><div><p>In terms of growth, Xiamen Xiangyu's overseas revenue surpassed CNY100 billion for the first time, a year-on-year increase of more than 150 percent. The company set up 11 new subsidiaries in countries such as South Africa and Brazil throughout the year.</p><p>Huaqin Technology saw its overseas revenue grow by more than 60 percent year-on-year, benefiting from the deepening of its global manufacturing layout and the accelerated penetration of artificial intelligence-powered smart devices. Foxconn Industrial Internet also notched a more than 50 percent gain in overseas revenue, driven by the explosive demand for AI computing power.</p></div><div><p>In terms of increase in the proportion of foreign income, Hybio Pharmaceutical reported an overseas revenue contribution of nearly 62 percent, over 4.5 times higher than three years ago, primarily benefiting from the rapid expansion of Glucagon-like peptide-1 active pharmaceutical ingredients and formulation products in overseas markets.</p><p>Dajin Heavy Industry's overseas revenue contribution exceeded 74 percent, an increase of more than 3.5 times compared with three years ago, with the company having signed multiple high-quality orders for offshore wind power projects in Europe last year.</p></div><p>Editor: Tom Litting</p></div></div>

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<p>Chinese mainland-listed firms achieved a record 17% of their revenue from overseas markets in 2025, totaling nearly CNY12.4 trillion (USD1.8 trillion). This growth is attributed to the slowing domestic market and strategies encouraging global expansion. The electronics sector led overseas revenue, surpassing CNY2 trillion, while companies like China National Petroleum Corporation and Foxconn Industrial Internet reported significant overseas earnings. Notably, BYD and Zijin Mining also saw substantial increases in their foreign income, reflecting a trend of diversification and higher margins in less saturated markets.</p>

- As of May 6, 2026, overseas revenue for publicly listed Chinese companies reached a historical high, accounting for nearly 17% of total income, despite slowing domestic growth.  
- These companies reported overseas earnings of approximately 12.4 trillion yuan (1.8 trillion USD), driven by the "going out" strategy and the "China Plus One" policy aiming for diversification.  
- The electronics sector led in overseas revenue, while companies like China National Petroleum and BYD recorded significant gains, indicating increased profitability potential in international markets.

Chinese Mainland-Listed Firms Earn Record 17% of Revenue From Overseas in 2025