Phoenix Satellite Television's top anchor Xu Gehui introduces about her hit show Face to Face with Celebrities. [Photo provided to China Daily]

Hong Kong broadcaster Phoenix Satellite Television recently launched a summit in Beijing to gather around 500 experts and insiders to discuss the challenges and opportunities for Chinese enterprises looking to expand abroad.

Li Hairong, a professor of advertising at Michigan State University, says China's economy has seen a huge rise over the past decade.

Chinese enterprises, which once produced parts and equipment for international brands, are now establishing their own globally-recognized brands, in what is a sure sign that more Chinese companies should follow suit and make forays into overseas markets, says Li.

Li also says that Chinese enterprises should tailor their business strategies in advance by researching the culture and consumer habits of their target markets.

Chen Fuguo, chairman of the Chinese consultancy company MetaThink, says that Chinese companies have become more powerful than in the past, with about 110 companies from China making the 2016 Fortune Global 500 list.

"The number is quite considerable. It shows that Chinese companies are eager to be part of the global economy and become more competitive," says Chen.

The summit will be developed into a regular television program broadcast on the networks' channels, according to Phoenix Satellite Television.

The broadcaster also unveiled a string of new programs scheduled to air on its Mandarin and Cantonese channels in 2018.

The programs, which will range from news shows, celebrity interviews, documentaries, and travel shows, will be hosted by some of the network's most celebrated anchors, including Xu Gehui, Jiang Nan, Dong Jiayao and Yuchi Linjia.