China Information Technology Q4 2020
The short-term outlook for the Chinese IT market has been lowered due to the coronavirus viral outbreak and theheightened tensions between China and the United States. The Covid-19 pandemic has caused widespread disruption to economicactivity, resulted in millions of quarantined citizens and hundreds of thousands of flight suspensions that have effectively disruptedthe global business landscape. As a result, the short-term investor sentiment and consumer confidence levels will be low, andBeijing will continue to inject capital to keep markets calm. The medium-term outlook for IT spending is generally positive and weexpect the IT market to remain on solid footing driven by a series of factors including nationwide initiatives to speed uptechnological uptake, expansion of various industries and economic verticals under the Five-Year Plans and the growing IT softwareand services bills of the enterprise market. We highlight cloud computing and the Internet of Things as being key to marketexpansion over the coming years, owing to their immense potential for industrial application. Furthermore, Beijing will remaincommitted towards fostering ICT sector growth over the coming decade and prioritise public investments to this end, especially asthe post-pandemic environment as the Chinese leadership attempts to solidify its tech leadership.
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