Product differentiation holds key for success of Chinese firms

Though there are no one-size-fits-all solutions for enterprises to succeed in the marketplace, the challenges and successes involved in transformation and upgrading often offer valuable insights for companies, experts said during the 2018 China's Strategy in Business Competition forum in Shanghai on Wednesday.

In the past 40 years since China embarked on reform and opening-up, there have been several unique methodologies and experiences that have inspired other Chinese enterprises to follow and succeed, especially when transformation and upgraded consumption has become imperative, said Su Jingqin, a professor of MBA education and management case studies from Dalian University of Technology.

Huang Haisong, standing vice-chairman of China Enterprise Confederation and China Enterprise Directors Association, said: "Industrial restructuring is often accompanied by the elimination of less competitive companies. In order to survive, Chinese enterprises must find their own tactics, adapt to competition from within and solve their own problems."