For Chinese companies hoping to make a splash in the international market, the most efficient way to expand and grow abroad is to take advantage of the soft power - that is, the branding, technology and management skills - overseas rivals can offer.

Local firms can speed up the process of internationalization by purchasing a well-known brand. Take, for example, Lenovo's decision to acquire IBM's line of ThinkPad laptops. This acquisition immediately broadened the profile of Lenovo in the global market and made it one of the most recognizable Chinese companies overseas.

But, after a company makes a name for itself overseas with its brand purchase, it needs advanced technology to maintain and develop the value of this brand. Without an emphasis on innovation, the brand will eventually turn into nothing but a worthless name. While this process is going on, company leaders should also learn how to lead an international team that understands the world market.

The author is Liu Chuanzhi, founder of Lenovo Group.