On November 13, the *Report on "Developing the 'Chinese People's Economy' and Sharing High-Level Open Opportunities—2025 Chinese Enterprises' 'New Globalization' Special Report"* (hereinafter referred to as the "Report") was officially released during the 16th Caixin Summit. The Report systematically elaborates, for the first time from the perspective of the "Chinese People's Economy," the new trends and challenges faced by Chinese enterprises in the new globalization phase. It proposes the "China+N" model to help Chinese companies advance from products to brands, low-value to high-value, and individual enterprises to industrial chain ecosystems. Case studies of industry leaders such as Lenovo Group, Pop Mart, and MiniMax are included in the Report.

The Report highlights China's shift from focusing on the "Chinese Economy" to embracing the "Chinese People's Economy." Unlike the "Chinese Economy," which emphasizes domestic economic activity in terms of scale and growth, the "Chinese People's Economy" focuses on the total wealth created and owned by Chinese enterprises and individuals globally. This means companies must not only generate value domestically but also establish a global presence rooted in China, building a value-creation network of "Chinese capabilities + global markets."

From policy and industrial perspectives, the Report offers recommendations for higher-level openness and better "going global" strategies during the 15th Five-Year Plan period. On policy support, it suggests establishing comprehensive institutional safeguards, improving overseas service systems, deepening international cooperation, and upgrading the value proposition of "going global." For corporate capability building, the Report advises Chinese enterprises to prioritize strategic positioning, compliance, risk control, localized operations, ecosystem integration, and innovation-driven brand upgrades.

The Report notes that the "China+N" strategy has already been validated by leading Chinese enterprises with global operations. Among them, Lenovo Group stands out as a prime example with its "Deep Roots in China, Global Reciprocity" model. Over two decades of global expansion, Lenovo Group has achieved 22-fold revenue growth, operates in 180 markets worldwide, and derives nearly 80% of its revenue overseas. It recently topped the *2025 Global Expansion TOP 100 Index*.

Wang Huiwen, Vice President of Lenovo Group and Chief Quality Officer of Global PC & Smart Devices, stated: "For Chinese enterprises to thrive globally, they must have deep roots in China. For Lenovo Group, China remains the core of our global resource allocation. At the same time, 'Made in China' must expand worldwide through '+N' to achieve global reach. The 'China+N' model ensures higher customer satisfaction, impeccable compliance, deeper community engagement, and more resilient operations. Chinese enterprises must not only 'go global' but also 'stay and integrate,' leveraging China's strengths to serve local markets and foster a symbiotic, prosperous ecosystem."

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