Top Chinese entrepreneurs commit to Middle East expansion despite Iran war

Two prominent Chinese business leaders have pledged to double down on outbound investment – including in the Middle East and Latin America – even as geopolitical risks intensify following the outbreak of the US-Israeli war with Iran and Washington’s increasing interventions in the western hemisphere.

Li Dongsheng, founder and chairman of Chinese electronics giant TCL, said the recent crisis in the Middle East had only a temporary impact on the company’s operations there and that the overall effect on business had been limited.

“I believe that as a globalised enterprise, we cannot afford to give up any major market,” said Li, also a deputy to China’s top legislature, the National People’s Congress (NPC), in an interview on Thursday.

“It’s perfectly normal for any country or region to experience some political fluctuations or economic crises. From a corporate perspective, there’s no need to let such an isolated incident affect our long-term strategic planning,” Li said on the sidelines of the NPC’s closing ceremony.

As one of the first Chinese companies to manufacture globally, TCL has established factories spanning from Southeast Asia to Latin America over the past 20 years.

While TCL would continue to strengthen its global footprint, its strategy must evolve in response to rapidly changing global investment and trade rules, Li said.

“Only by firmly committing to globalisation can you win the future,” he added.

South China Morning Post