Top execs weigh in on post-pandemic business prospects
Sherri He, managing director of Kearney Greater China
A1: We expect government policy to stimulate the economy, especially consumption. 5G infrastructure-related policy is also important, but needs to be market-driven.
Policy that can benefit sectors hit the hardest, such as small and medium enterprises and the service industry, can subsidize and help transform export-oriented industries.
Policies to support people impacted by COVID-19 the most, such as migrant workers.
Policies to continue to attract and retain foreign investment and to protect China's position as a key supply chain market for the global economy, including continuing opening up sectors to foreign investment per World Trade Organization guidelines and reinforcement of intellectual capital.
Policies to enhance the public health sector, especially the effectiveness of monitoring mechanism, better management of "wet markets", ensure reinforcement of restrictions on wild animal trading.
A2: The consulting business has been impacted during COVID-19, due to travel restriction and cost reduction of clients. But in the meanwhile we see a rise in demand on some particular topics, such as cost or profitability-related topics, which Kearney is known for. China is one of the most important markets we want to grow. COVID-19 will slow down our growth in 2020, but won't change our growth objectives in the mid-term.
A3: We have not seen minimum post-COVID-19 subsidy policies related to my company. In the meanwhile, we do think the Chinese government is doing great in reviving the economy without risking lives. Our colleagues feel safe.
A4: There are more needs in cost reduction and profitability improvement, and many clients come to us on this topic. Globally, we had same experience in 2009, but in China we see a lot more needs on this than then, as more Chinese clients now realize consulting can help on this. We have done a lot of digital topics in China, and digital is clearly the area that has been accelerated post-COVID-19, and this is another topic where we are seeing more needs than before.
A5: Talent is the core of our business. We are doing everything to protect our talent, and trying our best to win business is the most important measure for that.
