HKUST PPOL Fall 2025

Prof. Naubahar SHARIF LEADING FACULTY Naubahar SHARIF PROJECT TITLE Bottom-Up Dragons: How China’s Borderland SOEs are Reshaping the Go Global Strategy in Southeast Asia FUNDING AGENCY the Li & Fung Supply Chain Institute AMOUNT AWARDED HK$150,000 PROJECT DESCRIPTION This research examines how China’s borderland state-owned enterprises (SOEs) are reshaping the “Go Global Strategy” through a bottom-up approach, focusing on three Yunnan province SOEs’ infrastructure and energy investments in Southeast Asia. The study investigates how these local SOEs have leveraged geographical proximity, cultural ties, and local government connections to successfully compete with central SOEs in neighboring markets. The research challenges conventional understanding that central government SOEs dominate overseas investments, demonstrating how China’s “Go Global Strategy” has evolved to incorporate diverse implementing agents, suggesting a more nuanced model of Chinese state capitalism where local actors play pivotal roles in expanding China’s economic influence abroad. GRANT 10 Achievements Grant

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