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Enterprises in China told to embrace digital transformation

Amid challenges brought by the pandemic, in 2023, enterprises in China are suggested to embrace digital transformation and build resilience to face mounting uncertainties, said global market research company Forrester Research.

The report released by Forrester on Thursday demonstrated its forecast of China, as well as the rest of the Asia-Pacific region in the coming 2023.

According to the report, in 2023, the application of digital industrial platform will be increased by 30 percent. Through digital industrial platforms, enterprises will take advantage of cloud technologies to create and offer customer value in a sustainable manner.

The scale of cross-border business in the Asia-Pacific will surge 20 percent, said the report, as main economies in the region have been actively promoting modern payment networks.

In addition, Forrester forecast that as uncertainties are mounting, the management level of enterprises are taking a more defensive attitude when making investment decisions.

Charlie Dai, vice-president and director of research at Forrester, said: "The Chinese government has been constantly optimizing its epidemic prevention and control measures, and easing influence brought on by the pandemic, geopolitical tension and global economy slowdown. With various of industrial policies being carried out, enterprises are using the power of technology to withstand uncertainties and achieve high-quality development."

Lu Guannan, an analyst at Forrester, said: "China's economy is recovering from the influence of the pandemic. To tackle the uncertainty of the market, many enterprises tend to adopt a defensive business strategy. While maintaining digital transformation, they are also considering the resilience of enterprise operation. In the coming year, it is suggested that they focus on efficiency improvement, cost control and risk mitigation."

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