{"id":48350,"date":"2022-02-04T07:58:00","date_gmt":"2022-02-04T07:58:00","guid":{"rendered":"https:\/\/chinesetouristagency.com\/?p=48350"},"modified":"2022-03-25T10:05:03","modified_gmt":"2022-03-25T10:05:03","slug":"opportunities-for-digital-transformation-in-china","status":"publish","type":"post","link":"https:\/\/chinesetouristagency.com\/opportunities-for-digital-transformation-in-china\/","title":{"rendered":"Opportunities for digital transformation in China"},"content":{"rendered":"<p><span style=\"color: #000000;\">The time has come to establish a foothold in China, thanks to technological breakthroughs<\/span><\/p>\n<p><span style=\"color: #000000;\">China is preparing to issue a digital version of its currency, the yuan.<\/span><\/p>\n<p><span style=\"color: #000000;\">That said, if you <a href=\"https:\/\/chinesetouristagency.com\/launch-startup-china\/\">want to start a business in China<\/a>, now is the right time to do so, as technology has given rise to professional employer organizations that will make your recruitment process transparent and successful.<\/span><\/p>\n<p><span style=\"color: #000000;\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-48290 aligncenter size-full\" src=\"https:\/\/chinesetouristagency.com\/wp-content\/uploads\/2020\/05\/livestreaming-tourism-min.jpg\" alt=\"\" width=\"960\" height=\"640\" srcset=\"https:\/\/chinesetouristagency.com\/wp-content\/uploads\/2020\/05\/livestreaming-tourism-min.jpg 960w, https:\/\/chinesetouristagency.com\/wp-content\/uploads\/2020\/05\/livestreaming-tourism-min-300x200.jpg 300w, https:\/\/chinesetouristagency.com\/wp-content\/uploads\/2020\/05\/livestreaming-tourism-min-768x512.jpg 768w, https:\/\/chinesetouristagency.com\/wp-content\/uploads\/2020\/05\/livestreaming-tourism-min-150x100.jpg 150w, https:\/\/chinesetouristagency.com\/wp-content\/uploads\/2020\/05\/livestreaming-tourism-min-250x167.jpg 250w, https:\/\/chinesetouristagency.com\/wp-content\/uploads\/2020\/05\/livestreaming-tourism-min-350x233.jpg 350w\" sizes=\"auto, (max-width: 960px) 100vw, 960px\" \/><\/span><\/p>\n<p><span style=\"color: #000000;\">Let&#8217;s take a closer look at the phenomenon<\/span><\/p>\n<ul>\n<li><span style=\"color: #000000;\">Why is it time to get involved in the Chinese market?<\/span><\/li>\n<li><span style=\"color: #000000;\">New product and service lines<\/span><\/li>\n<li><span style=\"color: #000000;\">A more profitable real estate industry<\/span><\/li>\n<li><span style=\"color: #000000;\">Management of important data<\/span><\/li>\n<li><span style=\"color: #000000;\">A better corporate culture<\/span><\/li>\n<li><span style=\"color: #000000;\">Increased competition<\/span><\/li>\n<\/ul>\n<h3><span style=\"color: #000000;\"><strong>I. Why is it time to get involved in the Chinese market?<\/strong><\/span><\/h3>\n<p><span style=\"color: #000000;\">Many economists and business experts consider<a href=\"https:\/\/www.mckinsey.com\/industries\/technology-media-and-telecommunications\/our-insights\/chinas-digital-transformation\" target=\"_blank\" rel=\"noopener\"> China&#8217;s digital transformation<\/a> to be the main driver of the country&#8217;s GDP growth by 2025.<\/span><\/p>\n<p><span style=\"color: #000000;\">This explains why many Chinese companies are shifting from traditional business methods to more efficient digitalized business models.<\/span><\/p>\n<p><span style=\"color: #000000;\">This transition precipitates many changes, including the adoption of a customer-centric management style.<\/span><\/p>\n<p><span style=\"color: #000000;\">Business owners and <a href=\"https:\/\/www.chinadaily.com.cn\/a\/201812\/06\/WS5c0854e6a310eff30328f550.html\" target=\"_blank\" rel=\"noopener\">CEOs in China<\/a> now realize how important customer experience is in the marketing strategy of all their products and services.<\/span><\/p>\n<p><span style=\"color: #000000;\">That&#8217;s why more than 80% of China&#8217;s digital transformation is aimed at improving the customer experience and making it more attractive.<\/span><\/p>\n<p><span style=\"color: #000000;\">An important aspect of the transformation also involves marketing, both online and offline.<\/span><\/p>\n<p><span style=\"color: #000000;\">That is, in addition to marketing products in China, local companies in the country can now effectively market their products abroad through e-commerce.<\/span><\/p>\n<p><span style=\"color: #000000;\">Other key areas that have been positively influenced by China&#8217;s digital transformation include innovation, human resource management, and employee evaluation and compensation.<\/span><\/p>\n<p><span style=\"color: #000000;\">All these changes have taken together mean that <a href=\"https:\/\/chinesetouristagency.com\/advertising-agency-in-china\/\">business opportunities in China are becoming<\/a> more important and juicier every day.<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-37557 aligncenter size-full\" src=\"https:\/\/chinesetouristagency.com\/wp-content\/uploads\/2015\/04\/BUsiness-China.jpg\" alt=\"\" width=\"4889\" height=\"2974\" srcset=\"https:\/\/chinesetouristagency.com\/wp-content\/uploads\/2015\/04\/BUsiness-China.jpg 1973w, https:\/\/chinesetouristagency.com\/wp-content\/uploads\/2015\/04\/BUsiness-China-300x182.jpg 300w, https:\/\/chinesetouristagency.com\/wp-content\/uploads\/2015\/04\/BUsiness-China-768x467.jpg 768w, https:\/\/chinesetouristagency.com\/wp-content\/uploads\/2015\/04\/BUsiness-China-1024x623.jpg 1024w, https:\/\/chinesetouristagency.com\/wp-content\/uploads\/2015\/04\/BUsiness-China-150x91.jpg 150w, https:\/\/chinesetouristagency.com\/wp-content\/uploads\/2015\/04\/BUsiness-China-250x152.jpg 250w, https:\/\/chinesetouristagency.com\/wp-content\/uploads\/2015\/04\/BUsiness-China-350x213.jpg 350w, https:\/\/chinesetouristagency.com\/wp-content\/uploads\/2015\/04\/BUsiness-China-1080x657.jpg 1080w\" sizes=\"auto, (max-width: 4889px) 100vw, 4889px\" \/><\/p>\n<h3><span style=\"color: #000000;\"><strong>II. New product and service lines in China<\/strong><\/span><\/h3>\n<p><span style=\"color: #000000;\">Digital processing has led to the adoption of all kinds of technologies from manufacturing to the marketing stage.<\/span><\/p>\n<p><span style=\"color: #000000;\">These technologies maximize the potential of each production process by precipitating multiple, high-quality by-products.<\/span><\/p>\n<p><span style=\"color: #000000;\">In addition, technological growth helps workers discover their talents more quickly, allowing them to put more effort into developing those talents.<\/span><\/p>\n<p><span style=\"color: #000000;\">In the long term, companies are able to exploit this new talent to improve their existing brands and the quality of their future products.<\/span><\/p>\n<p><span style=\"color: #000000;\">New technologies are also helping to streamline supply chain management systems.<\/span><\/p>\n<p><span style=\"color: #000000;\">Interactions with customers are improved and sales volumes increase significantly.<\/span><\/p>\n<p><span style=\"color: #000000;\">Companies that benefit from the ongoing <a href=\"https:\/\/www.mckinsey.com\/industries\/technology-media-and-telecommunications\/our-insights\/chinas-digital-transformation\" target=\"_blank\" rel=\"noopener\">digital transformation<\/a> will be able to improve the productivity of their workforce and, as a result, develop better e-commerce strategies for more effective global reach.<\/span><\/p>\n<p><span style=\"color: #000000;\">And with the arrival of new customers, the most logical thing for a company to do will be to offer more product lines and services to satisfy as many tastes as possible.<\/span><\/p>\n<p><span style=\"color: #000000;\">In addition, to have better quality and more targeted products for your customers, you&#8217;ll also need to do a lot of research to understand Chinese customers before you embark on this journey.<\/span><\/p>\n<p><span style=\"color: #000000;\">It will also be easy for you to find a trusted translation company that will help you better understand the Chinese consumer.<\/span><\/p>\n<h3><span style=\"color: #000000;\"><strong>III. A more profitable real estate industry<\/strong><\/span><\/h3>\n<p><span style=\"color: #000000;\">China now has more money market funds than it has ever had in history.<\/span><\/p>\n<p><span style=\"color: #000000;\">The emergence of marketplaces and online brokerage services in China&#8217;s real estate sector is also a key topic of discussion with regard to the digital transformation.<\/span><\/p>\n<p><span style=\"color: #000000;\">In the future, these changes will make it easier and more convenient to own and rent homes in China, which in turn will increase the demand for commercial and residential property.<\/span><\/p>\n<p><span style=\"color: #000000;\">This will certainly be an interesting time for real estate investors in China.<\/span><\/p>\n<p>Read<\/p>\n<ul>\n<li><a href=\"https:\/\/chinesetouristagency.com\/outbound-real-estate-market-china-just-becoming-crazy\/\">Real Estate industry in China is going abroad\u00a0<\/a><\/li>\n<li><a href=\"https:\/\/chinesetouristagency.com\/chinese-real-estate-buyers-investing-u-s\/\">US real Estate and Chinese investors<\/a><\/li>\n<\/ul>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-6449 aligncenter size-full\" src=\"https:\/\/chinesetouristagency.com\/wp-content\/uploads\/2016\/05\/chinese-real-estate.jpg\" alt=\"\" width=\"600\" height=\"400\" srcset=\"https:\/\/chinesetouristagency.com\/wp-content\/uploads\/2016\/05\/chinese-real-estate.jpg 600w, https:\/\/chinesetouristagency.com\/wp-content\/uploads\/2016\/05\/chinese-real-estate-300x200.jpg 300w\" sizes=\"auto, (max-width: 600px) 100vw, 600px\" \/><\/p>\n<h3><span style=\"color: #000000;\"><strong>IV. Managing important data<\/strong><\/span><\/h3>\n<p><span style=\"color: #000000;\">In recent times, important data has penetrated key sectors of the Chinese economy, including e-procurement, e-payments and Internet banking.<\/span><\/p>\n<p><span style=\"color: #000000;\">This trend will continue, in which case business options will continue to develop.<\/span><\/p>\n<p><span style=\"color: #000000;\">Outsourcing foreign talent will become increasingly easy through the Internet.<\/span><\/p>\n<p><span style=\"color: #000000;\">Paying remote workers and suppliers is already being done without difficulty thanks to the digital transformation experienced so far, which means that things can only get better.<\/span><\/p>\n<p><span style=\"color: #000000;\">Then there are the new markets that the Internet of Things is building.<\/span><\/p>\n<p><span style=\"color: #000000;\">As the number of connected devices increases and online media content becomes juicier and easier to share, more and more middle-class Chinese will join the smart world, creating a whole new demographics for marketers to tap into.<\/span><\/p>\n<h2><span style=\"color: #000000;\"><strong>V. A better corporate culture<\/strong><\/span><\/h2>\n<p><span style=\"color: #000000;\">Traditionally, CEOs and business owners focus more on technological development and largely neglect their workers and customers.<\/span><\/p>\n<p><span style=\"color: #000000;\">But today, with the digitalization of services, every company has been forced to rethink its policies and adopt strategies that promote a useful culture and working style.<\/span><\/p>\n<p><span style=\"color: #000000;\">Companies are now looking inwards and focusing on sustainable growth through employee empowerment.<\/span><\/p>\n<p><span style=\"color: #000000;\">And, of course, sustainable growth will mean more jobs and career opportunities for Chinese professionals.<\/span><\/p>\n<h2><span style=\"color: #000000;\"><strong>VI. Increased competition<\/strong><\/span><\/h2>\n<p><span style=\"color: #000000;\">Thanks to the digital transformation, growth is now based more on innovation than on the financial strength of a company.<\/span><\/p>\n<p><span style=\"color: #000000;\">Chinese consumers are now more informed than ever before; they know the qualities they want to see in a product before they invest their money in it.<\/span><\/p>\n<p><span style=\"color: #000000;\">This means that small businesses will be more likely to compete with established brands as long as they are creative and innovative in their products.<\/span><\/p>\n<h3><span style=\"color: #000000;\"><strong>Conclusion<\/strong><\/span><\/h3>\n<p><span style=\"color: #000000;\">If you&#8217;re considering expanding your business in China or becoming more established with the advantages listed above, now is a good time to do so.<\/span><\/p>\n<p><span style=\"color: #000000;\">Access to the most modern technological infrastructure, digital marketplaces, large-scale operations, and a focus on sustainable growth and innovation-based competition are all major positive developments that make China a favourable market for both start-ups and established companies.<\/span><\/p>\n<p>[\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section]<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The time has come to establish a foothold in China, thanks to technological breakthroughs China is preparing to issue a digital version of its currency, the yuan. That said, if you want to start a business in China, now is the right time to do so, as technology has given rise to professional employer organizations&#8230;<\/p>\n","protected":false},"author":11,"featured_media":48397,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_kad_post_transparent":"","_kad_post_title":"","_kad_post_layout":"","_kad_post_sidebar_id":"","_kad_post_content_style":"","_kad_post_vertical_padding":"","_kad_post_feature":"","_kad_post_feature_position":"","_kad_post_header":false,"_kad_post_footer":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[488,471,487,435],"tags":[],"class_list":["post-48350","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-digital-marketing","category-e-commerce","category-marketing","category-real-estate"],"acf":[],"jetpack_featured_media_url":"https:\/\/chinesetouristagency.com\/wp-content\/uploads\/2020\/05\/Digital-China.png","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p67DXD-czQ","_links":{"self":[{"href":"https:\/\/chinesetouristagency.com\/wp-json\/wp\/v2\/posts\/48350","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/chinesetouristagency.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/chinesetouristagency.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/chinesetouristagency.com\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/chinesetouristagency.com\/wp-json\/wp\/v2\/comments?post=48350"}],"version-history":[{"count":4,"href":"https:\/\/chinesetouristagency.com\/wp-json\/wp\/v2\/posts\/48350\/revisions"}],"predecessor-version":[{"id":49547,"href":"https:\/\/chinesetouristagency.com\/wp-json\/wp\/v2\/posts\/48350\/revisions\/49547"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/chinesetouristagency.com\/wp-json\/wp\/v2\/media\/48397"}],"wp:attachment":[{"href":"https:\/\/chinesetouristagency.com\/wp-json\/wp\/v2\/media?parent=48350"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/chinesetouristagency.com\/wp-json\/wp\/v2\/categories?post=48350"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/chinesetouristagency.com\/wp-json\/wp\/v2\/tags?post=48350"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}