The China (Zhejiang) Pilot Free Trade Zone. [Photo provided to ehangzhou.gov.cn]

As early as 2010, the company started expanding through international M&As, strategically positioning itself early on. Over the past decade, it has set up 21 manufacturing bases in countries and regions such as China, the United States, Europe, and Southeast Asia, with 11 overseas bases and 10 domestic bases. It has also established five major R&D centers worldwide, making it the largest tool company in Asia and the second-largest globally.

Today, GreatStar has over 10,000 employees globally, with its products and services sold in more than 180 countries and regions worldwide. In 2022, its total operating revenue reached 12.6 billion yuan ($1.74 billion).

With the end of the pandemic, Hangzhou enterprises are taking the initiative to approach overseas companies and attract investment, seizing strategic opportunities.

Orders are the lifeline of foreign trade enterprises, and exhibitions are their main channel for securing orders. Statistics show that 60 percent of foreign trade orders come from exhibitions. This year, Hangzhou has hosted 16 exhibitions in countries including Poland, Turkey, Egypt, the United Arab Emirates, Brazil, India, Jordan, South Africa, Mexico, and Indonesia, assisting local enterprises in securing orders and expanding markets.

Currently, Hangzhou is actively promoting a foreign market expansion plan. By the end of 2023, more than 150 groups are expected to participate in over 100 professional exhibitions, and over 3,000 companies are expected to explore international markets, aiming to achieve an annual increase of 100 billion yuan in new foreign trade orders.