Chinese entrepreneurs are focused on their domestic market, but they will start looking abroad within the next five to 10 years, according to the chairman and CEO of venture capital firm Sinovation Ventures.
When that time comes, the Chinese business approach will lead to those companies taking a larger share of foreign markets than their U.S. competitors, the CEO predicted.
"The Chinese approach will be much more partnership-friendly," Lee claimed, saying that those companies are more prone to "investing in local companies and partnering with them."
"I would bet that for those markets outside the U.S., English speaking countries and Western Europe, I would bet on China taking a larger share of that market," said Lee, whose firm says on its website that it manages about $1.3 billion in assets and has offices in both the U.S. and China.
Despite his positive outlook, many Chinese entrepreneurs and businesses are still largely concentrated within the world's second-largest economy.