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'Dual circulation' to boost growth (V)

By Jiang Xueqing, Fan Feifei, Zhou Lanxu and He Wei | | Updated: 2021-01-21 06:40
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Zhu Wei, chairman of Accenture in China. [Photo provided to]

A1: China is a key strategic market to Accenture. It is home to many excellent enterprises, as well as the most important market for many of our clients. Accenture has been operating in China for over 30 years with 17,000 people servicing clients across the region. We will continue to invest in our people and business in the market and develop deep local expertise and ecosystem partnerships.

A2: With the fast-growing digital economy in China, we believe the dual-circulation strategy presents good opportunities for companies to prioritize agile innovation, unlock the potential of digital technologies and adapt to challenging business environments.

Accenture has been relentlessly tapping into opportunities to work side-by-side with Chinese companies in practicing digital transformation and applying innovations at scale.

A3: China's actions to stabilize foreign investment and the related positive changes have brought vitality to China's economy. In the face of global economic uncertainties, we've seen Chinese companies are actively exploring digital technologies and accelerating their transformation. The opening-up of trade, investment and technology allows companies to turn their innovative ideas into reality.

A4: The speed with which China has mitigated the impact of COVID-19 – from containment to resumption of operations to bolstering business vitality - is unprecedented. Digital business models and new technologies have been playing an important role in the nation's success in safeguarding people's livelihoods. With China's quick recovery, Accenture is also pivoting rapidly from maintaining undisrupted operations to staying relevant to clients by actively exerting our industrial capabilities and contributing our tailor-made digital solutions to address the pressing digital transformation needs of local businesses from various industries.

A5: In the new development stage, digital technology has become a key driver to China's high-quality growth. With the digital economy growing fast in China, companies with top-notch digital maturity can better manage risks and navigate market changes. When applying new technologies, Chinese companies should build up digital proficiency across their core business and processes.

A6: China is now the second-largest digital economy in the world. Accenture has been leveraging our full-span digital capabilities to support local businesses to unlock the enormous value promised by the digital economy. Looking ahead, we foresee innovations led by digital technologies such as cloud, artificial intelligence, data analytics, mobility and internet of thins will play an even more important role in driving the growth of the Chinese economy as well as the global economy, helping enterprises around the world increase efficiency and agility and explore new business opportunities.

A7: As a key priority in China's 14th Five-Year Plan, the dual-circulation strategy aims to boost technology innovation, globalize Chinese enterprises and stimulate domestic demand. According to Accenture's economic model, China could unlock $1.9 trillion in new economic value in 2030 by breaking growth limits with new technologies and unchained innovation. Accenture is bringing more innovation to the business and technology ecosystems and helping Chinese enterprises to embrace digitization and enhance global competitiveness to succeed in the new era.

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