Technology is a key tool to accelerate the success of the 13th Five-Year–Plan (2016-2020), said Kitty Fok, managing director of IDC China, in an exclusive interview with China Daily Website.
As a global market research firm, IDC focuses on providing specialized services in the IT sector.
"Among all the initiatives that the government has highlighted, IDC believes that 'Made in China 2025', 'Internet Plus', 'Big Data', 'Smart City', 'Belt & Road', and 'Secure & Controllable' are the six initiatives most highly related to technology," Fok said.
The company aims to make its clients successful by providing targeted interpretation of the government's policies associated with the 13th Five-Year-Plan, helping the digital transformation of the clients' business operations, organization, products and services, and enabling the adoption of appropriate technologies, including cloud computing, big data and internet of things.
The following are edited excerpts from the interview:
How do you view China's rapid economic growth and its recent slowdown? Will this affect your business development in the market?
The economic slowdown in China has affected our customers in many ways but this has only increased the value of our services as we help them plot a successful path and perhaps restructure their business to meet the new growth areas we are seeing.
The slowdown is really an economic transformation of China both regionally and globally towards a high-end industry base that will create a healthier economy and support China's long-term development.
We see the services provided by IDC as even more essential as we provide the necessary targeted analysis, insight and recommendations for our clients to help them move forward with effective strategies, investment and priorities.
At this critical moment, IDC continues to help our clients such as IT vendors to successfully penetrate China's markets.
With the Belt and Road Initiative, IDC has increased our analyst resource to further help Chinese vendors enter the overseas market by leveraging the expertise of over 1,000 expert analysts worldwide.
IDC will develop the advisory services to tech buyers across all industries to help them bring about the digital transformation journey that is so critical to China's continued growth.
What are your business strategies as you readjust to the new Chinese economic realities like the new normal?
Our business strategy is to make our clients successful in three key dimensions:
First, targeted interpretation of the government's policies associated with the 13th Five-Year-Plan - what it will mean for IT vendors.
Second, digital transformation (DX) of their business operations, organization, products, and services through change in the five key areas of leadership DX, Omni-experience DX, Information DX, Operating Model DX and Worksource DX.
Third, adoption of the most appropriate emerging technologies, including cloud computing, mobility, social business, big data, next generation security, internet of things, cognitive systems, 3D printing, robotics and AR/VR.
How do you assess the prospects of your business in China in conjunction with the Chinese market and economy?
IDC prospects in China are excellent because of the Chinese 13th Five-Year-Plan and the opportunity for IDC to provide corresponding and relevant market insights.
Technology is a key tool to accelerate the success of the 13th Five-Year-Plan. Among all the initiatives that the government has highlighted, IDC believes that "Made in China 2025", "Internet Plus", "Big Data", "Smart City", "Belt & Road", and "Secure & Controllable" are the six initiatives most highly related to technology.
IDC will continue to provide the necessary research, consulting services and go-to-market strategies to help firstly, technology companies understand the future developments as it relates to the local demand and secondly, to facilitate the transformation of traditional industries.
Do you have any plans for new investments in China in the next few years?
IDC sees China as not only an important market to the world but also one that is growing in complexity with regional and global integration.
IDC will continue to invest in our China business including new offices across the country with the development of local talent. These resources will be combined with our global analysts to bring the international perspective to our work.
To help China to become the hub of technological development, IDC will encourage both international and local companies to understand the differences between the markets, and to share ideas for their future development.
For example, IDC will continue to develop the Smart City Awards to share the best global practices and share their successful Smart City implementations.
What do you think of the opportunities and challenges facing your company amid recent supply-side structural reform in China? How does your company fit into the national strategy of Made in China 2025 and Internet Plus?
The opportunities and challenges facing our company are associated with providing the best advice for our clients to make the best of the many new opportunities and challenges that they now face.
For example, the supply-side challenges that multinational companies are facing under the new Secure and Controllable Policy is informing our advice with greater focus on the need to develop regionalized and customized integration of cyber security in China.
Furthermore, both Made in China 2025 and Internet Plus are great invitations from Chinese government, and IDC continues to provide the related research to help traditional manufacturing companies go through the digital transformation journey as well as to share best practice and bench-marking services to support their decisions.
For example, IDC's DecisionScapes are a portfolio of decision-making methodologies that enable CIOs, IT and line of business executives to make better informed strategic decisions. These comprehensive assessments, delivered in a full-length research study, and summarized in an easy-to-read graphical depiction, provide them with the critical information necessary to make their most important decisions.
Internet Plus will drive economic growth by integration of Internet technologies into industry and generate big-data challenges and opportunities. IDC will support the development of these new highly data-driven systems to support the growth for our clients.
What's the biggest difference between the China market and the other market? What are the challenges in the China market?
The government involvement through policy setting is the biggest difference in the China market. This is a challenge for most multinational companies and an opportunity for IDC to help support them as clients. The cultural differences, as well as the language challenges can be a challenge when providing advice on the China market.
What's your competitive edge with rivals in China?
IDC has a competitive edge in IT market research in China. As a global market research firm with over 53 offices around the globe it has the strongest presence in China.
We at IDC focus on building up our local expert teams where it matters most, in emerging markets and the dynamic IT sector. Fifty percent of our global analysts are based in these rapidly transforming areas.
IDC provides the most targeted global insight applied to the transforming markets in China to better help both local and multinational companies do business here. We also help Chinese companies understand and do business in the global markets.
- Light rail in Nigeria's capital opens opportunities for loc... 2018-10-08
- Researcher: B&R Initiative brings opportunities 2018-08-30
- Italian business community eyes opportunity in Belt & Road ... 2018-07-02
- Kazakhstan to play significant role in B&R amid goal to int... 2018-06-07
- Opportunities along Belt and Road to increase for going-glo... 2018-06-05