Does Your Company Have a China Growth Strategy in the ‘Decoupling Era’? – SwedCham China Webinar
As business start to slowly rise again in 2021, it becomes important for companies to look into the situation in the growing mega market that is China.
Nordic companies have been grappling with the fallout from ongoing trade tensions and the EU-China agreement on investment. As a result, there is one critical question on the minds of most Nordic CEOs: How do we make sense of China and formalize a proper strategy for the Middle Kingdom?
As an important topic for the strategic and capital agenda of any global firm, together with Swedish Chamber of Commerce in China, Nordic Match on February 24th organized a webinar and presented an overview and strategic framework for Nordic companies who plan on expanding in China.
With attendees such as Elos Medtech, HMS, Tomra, Halton etc., Nordic Match Partner Tony Wang shared his experiences and provided CEOs with a better foundational understanding of the growth opportunities in the Chinese market, including recent trends in digitalization, manufacturing, In China for China strategy and innovation.
Tony Wang said:
“Despite the pandemic, China is leapfrogging in growth and is expected to become the largest economy in the world by 2028.
The In China for China strategy can be seen as long and short term aspects. In the short term for Nordic companies there have been harsh competition from local players as local clients start to demand for local supply chains. Previous headquarters that has been hesitant on taking a major decision on investment in China now are being asked to take a firm decision. Whether companies decide to double down or increase their investments in China really circles down to the question of whether your product is good enough to stay competitive in China for the long run or not. In the long term it is crucial that companies adapt to local business models, have local R&D and build up local management capabilities.
All in all, the importance is for companies to form their own idea of how to benefit and win the China market. It is definitely more an art than science.”
About Nordic Match
Nordic Match is a boutique M&A and Strategy Advisor headquartered in Shanghai, China. Dedicated to Sino-Nordic transactions, we have a clear vision – to support aspiring corporates and investors in search for value-creating opportunities between Nordics and China.
More about Nordic Match: www.nordic-match.com