[Press Release] New Chinese subsidiary, "Piyoude Technology (Shenzhen) Co., Ltd.", opens in Shenzhen, Asia's Silicon Valley!

Beyond Co., Ltd. is pleased to announce that it will open a local subsidiary, Beyond Technology (Shenzhen) Co., Ltd., in Shenzhen, Guangdong Province, China, as an overseas base in Asia on January 15, 2024.

The current state of China's IT business

In recent years, various IT businesses have been expanding in China, with an increasing number of companies developing new services and products. There has also been a noticeable increase in IT companies from overseas expanding into China

Furthermore, China, which is home to a variety of thriving industries, including not only the IT sector but also manufacturing and finance, is experiencing remarkable growth, and it is said that by 2050 it will surpass the United States to become the world's number one country in terms of GDP

In particular, Shenzhen, also known as China's Silicon Valley, is developing as a major industrial hub with the infrastructure to handle all stages of the supply chain, from development to production and assembly, in industries including electronic components

Overview of Shenzhen, China, and current business situation

Guangdong Province , is designated as a special economic zone, and with the support of various government policies, it has become a place where talented people and advanced technology gather. It is part of the Greater Bay Area, which integrates the three regions of Hong Kong, Macau, and Guangdong Province and is being developed into one of the world's leading bay areas.

According to economic data for 2022 released by the Statistics Bureau of the Guangdong-Hong Kong-Macao Greater Bay Area, the GDP (gross domestic product) of the Guangdong-Hong Kong-Macao Greater Bay Area in that year was expected to exceed 13 trillion yuan (approximately 271.5747 trillion yen), making it an area that continues to grow rapidly

Furthermore, looking at China as a whole, the number of unicorn companies is second only to the United States, and Shenzhen in particular is home to a large number of startup companies and is attracting increasing attention due to the concentration of domestic and international startup support organizations and venture capital incubators

Reasons for opening a local Chinese subsidiary in Shenzhen

In recent years, Japan has been affected by a declining population and an aging society, and it is predicted that the business market will become even more difficult in the future. For this reason, it is becoming increasingly important to turn our attention overseas and develop our business globally, and there is a particular need to develop our business with an eye on the Chinese and other Asian markets, which boast some of the world's largest economies

Among these, Shenzhen, China, where our local subsidiary was established, is home to some of the world's leading technology companies, including Huawei, Tencent, and DJI, and is a city where technology is developing to a level comparable to that of Europe and the United States. The IT market is also very large, and it is expected to continue to evolve rapidly as an economic center

Furthermore, Shenzhen is an innovation city with an ecosystem that allows for speedy manufacturing while handling cutting-edge technology, attracting many young people in their 20s. We believe that the services we offer will have a high affinity with cities that will continue to develop significantly in the future, and so we have decided to establish a local subsidiary in Shenzhen

About the business of our Chinese subsidiary, "Philips Technology (Shenzhen) Co., Ltd."

Beyond's local Chinese subsidiary, Beyond Technology (Shenzhen) Co., Ltd., provides technical support for Japanese companies, local subsidiaries, and overseas group companies expanding into China, including the construction and operation of Chinese clouds such as Alibaba Cloud and the construction of PaaS solutions

By staying up to date on cutting-edge IT services in Shenzhen, the center of China's special economic zone, and providing the speedy, detailed technical support that only Japan can provide, we will encourage cooperation between China, including Shenzhen, and Japan, and promote the creation of new business value and problem-solving, including ecosystem initiatives between Japan and China

The main business activities are as follows:

・Cloud/server construction and operation for Japanese companies and local subsidiaries expanding into China ・
Cloud IT support for business collaboration between Japan and China

*For details and services regarding
https://beyondjapan.com/service/china-msp

https://beyondjapan.com/service/china-msp/

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