Chinese firms target setting foot in Cambodia, Vietnam

And are dead set to dominate the industry.

It has been observed that as Chinese enterprises continue to expand overseas, their role in an interconnected Asia becomes more important.

According to a research report from United Overseas Bank, one thing that is clear from its UOB Asian Enterprise Survey 2014 is that Chinese enterprises are keen to expand and invest in other markets.

This means that when it comes to catering to consumers in other countries, they are likely to rely a lot more on other companies and partners, which can create growth opportunities in various sectors.

As they expand into overseas markets, Chinese enterprises may need to adapt and localise their products and services. They are likely to spend more on marketing and advertising in order to create awareness about their products.

Here's more from United Overseas Bank:

This is where local companies who understand the consumers and market trends can capitalise and benefit from Chinese enterprises' expansion plans.

There are likely to be opportunities created for local companies to provide support to Chinese enterprises in areas such as supply chain management, transportation, warehousing and human resource management.

Many Chinese enterprises are looking to set up manufacturing bases in low-cost countries such as Cambodia and Vietnam. While that does mean more competition for local companies, it also helps create more jobs for local workers.

At the same time, they are also likely to contribute to the economic growth of a country by boosting production and exports.

Chinese enterprises would also need financing to fund their expansion plans. As the survey indicated and as mentioned above, nearly all of the Chinese enterprises said they prefer to approach banks as the first option to secure their funding.

This can create an additional growth channel for lenders in various countries where Chinese enterprises plan to invest

There is little doubt that just as China’s economy has done in recent years, Chinese enterprises are looking to become dominant players in Asia. Their expansion will open up growth opportunities both at home and abroad and build an increasingly interconnected Asian market.