Covid-19 and Business: Learning from China

When it comes to business reactions to Covid-19, many Chinese companies are ahead of us. Take the automotive industry, for example: While managers of German brands in China stare spellbound at plummeting sales figures, competitor Geely is launching a corona-safe model on the market. The entire system of the SUV Geely ICON is equipped as standard with health protection at CN95 level.

After the outbreak of the epidemic, the Geely Holding Group quickly invested 370 million yuan in the development of a car with virus protection functions, mass production started within 30 days. Chinese service providers are also reacting quickly. Because the China Automotive Technology and Research Center (CATARC) is strongly affected by the epidemic, Chinese scientists offer live webcasts to their international customers. And the B2B platform Chip Superman enables the chip industry, which is suffering greatly from travel restrictions, to conduct live inspections online.

Digital solutions are also playing an increasing role in marketing in China, while Covid-19 is playing an increasing role in marketing. For example, Jianjia Aluminum Industry executives use their personal media accounts for webcasts on product launches and training to increase the company’s reach. The well-known B2B platform Made in China not only provides companies with advertising cost subsidies of 10 million yuan, it also offers free online courses on dispute resolution and foreign trade management.

Covid-19 turns China into an innovation lab. Its companies react immediately to changing market and competitive conditions and adapt their products and services. Digital solutions play the biggest role in this process. Foreign companies should learn from them and obtain strategically relevant information, develop digital blueprints for future offers and processes from them and convert them into concrete projects. Because the transformation is continuing to accelerate.

Picture: https://www.geely.com

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