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Consulting firm riding the high-tech wave

China Daily | Updated: 2019-10-29 10:05

Neil Wang, president of Frost & Sullivan China. [Photo provided to China Daily]

China has adopted policies to further open the economy to foreign investment, to transform financial services and to promote private enterprises. How are you planning to take advantage of these policies?

China is one of the world's largest sources of outbound and inbound foreign direct investment. However, its financial market remains far from globalized. Thanks to a series of measures to open up adopted by the government, including a range of areas open to foreign investment and investment rules, we are able to offer our expertise in strategy consulting and research to help foreign companies to dive into the Chinese market to seize tremendous opportunities and accelerate growth.

What business opportunities do you see as China continues to pursue higher-quality growth, which is increasingly driven by services and consumption?

China's domestic consumption has become a pivotal force in driving economic growth in the long run. The country will use a combination of measures to increase incomes, boost capacity for consumption and use multiple avenues to increase the supply of quality products and services.

Since consumers' preferences and behaviors are constantly changing, many of them have shifted focus from basic necessities to quality products and services attributable to the increasing income level and purchasing power. In addition, some have established healthy lifestyles and become more conscious about living standards, personal welfare, and self-esteem. We believe such patterns are likely to create enormous market opportunities for sectors like healthcare, education, retail and lifestyle.

How does your company plan to take advantage of the technology transformation opportunities in China over the next decade?

The advancement of new technologies includes but is not limited to the internet of things, 5G, artificial intelligence and its widespread deployment in business, which has significantly improved products and services efficiency and created new business norms. At Frost& Sullivan, we will continue to embrace technological innovation to constantly enhance our research and execution capabilities in order to deliver optimized and high-value business solutions to our partners.

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