January 18, 2017
The firm expects to add US$150M in new business supporting China outbound investment into 162 countries in the next 5 years
Beijing (January 18th, 2016) – CSOFT International, a leading global communication, consulting, and localization solutions provider, announced today the appointment of Philippe Cao as Vice President of Greater China Business and Global Operations. His promotion signifies a transition of leadership to a successful new generation of young people leading CSOFT’s future growth and development.
Hailing from Paris, and fluent in 3 languages (English, Chinese, and French), Cao brings a wealth of experience in localization and helping Chinese companies communicate effectively in foreign markets. Prior to his promotion, Cao served as General Manager of CSOFT Shenzhen and played an integral leadership role in growing China sales by over 300% in the last three years. He has walked side by side with his Chinese clients as they face the challenges and complexity of transitioning into a global business perspective.
Philippe holds a Master’s in Finance from INSEEC Paris Business School, and served as a Senior Account Manager at Brother Industries, responsible for over US$60M+ in key accounts in France.
“I am so excited to have the chance to work alongside my leadership team while deploying CSOFT’s new strategy for the next decade,” Cao shared. “As the industry evolves, CSOFT will remain ahead of the game. Technology has always been a cornerstone of CSOFT’s development and it will continue to drive our growth as we transform and embrace the future.”
Cao’s newly formed international management team is made up of seven individuals from diverse backgrounds, with nine languages represented among them. Many have worked at a number of CSOFT’s global offices over the years, and use their multicultural perspectives to drive the company’s transformation and growth.
“Our people are key to our success. They are dynamic, innovative, and determined – the very best in the industry. This young generation of leaders is driving our business forward, setting industry trends, and creating a bright future,” said Shunee Yee, President & CEO of CSOFT International in her recent interview at 90 Seconds with CSOFT.
CSOFT has set its sights on capturing China’s growth and supporting its “One Road One Belt” global trade efforts. Despite weak global growth, China’s outbound direct investment (ODI) continues to surge as companies expand their businesses internationally.
According to China’s Ministry of Commerce and published recently by the Center for China and Globalization (CCG) – a leading China think tank – China ODI reached US$161 billion in the first 11 months of 2016. This figure represents a 55.3% increase in year on year growth. China has invested in over 7,500 businesses across 164 countries and regions. Furthermore, China’s direct investment reached US$84 billion between January and October 2016 – an increase of 173.9% over the previous year. Chinese direct investment in the US is expected to reach US$200 billion by 2020.
In June of 2016, CSOFT issued the 2016 Shenzhen 100 Report. Collaborating with the city of Shenzhen, the heartland of China’s innovation and a top 4 contributor to China’s national GDP, CSOFT identified Chinese companies with the potential to be globally successful. The Report additionally released two “Top 10 lists” of global risers and transformers. The effort leverages CSOFT’s influence and deep knowledge of past and present partners including Mindray, Huawei, Tencent, Royole, UBTECH, SuperD, DJI, and many more to provide an in depth perspective on China’s movers and shakers. By localizing their products, these firms are able to remain both globally focused and locally relevant while entering new markets around the world.
“Given the current political and economic challenges we are facing around the world, translation has become even more critical to cross-border trade. Effective communication that articulates a company’s values and vision in a way that is relevant to local culture has become the foundation for global growth.” Yee concluded.
About CSOFT International
CSOFT International Ltd. is a world leader in localization and globalization consulting services, providing turnkey solutions for companies facing the challenges of engaging customers and markets across linguistic and cultural barriers. Recognized as one of the Top Innovative Companies in 2011 by IDC we have an award-winning international team. In 2012, the company’s CEO was named one of Fortune Magazine’s 10 Most Powerful Women Entrepreneurs and a Tech Disruptor by CNN Money.
About Shenzhen 100
The Shenzhen 100 is an annual research initiative seeking to identify Shenzhen-based companies that have the highest potential for global success. We target firms that possess advanced technology, product design, forward-thinking business strategy, high quality management, and the ambition for long-term international market leadership. The initiative is a unique joint effort by private business enterprises, government entities and CSOFT International—a leading provider of globalization and localization solutions. The official 2016 report can be downloaded for free by request.