China is no longer content with just being the world's pre-eminent manufacturer: it is increasingly active in the development of global technology standards, Deloitte & Touche LLP finds in a study it recently released. The report, "Changing China," details how China's standards initiatives will shape global competition in the technology, media and telecommunications (TMT) sector for years to come.
China's current position as the leading consumer and producer of many technology products - along with its healthy long-term growth prospects - puts it in a strong position to influence standards in its own market, as well as the global markets. As China's standards become more widely accepted, Chinese firms will increasingly direct the global technology sector.
Deloitte identified four practical strategies for technology firms to consider as China's technology standards develop:
- Collaborate with standard setters.
- Compete selectively, focusing on areas where standards are harder to mandate.
- Innovate specifically for the Chinese market.
- Seed emerging markets to encourage growth and establish early control.
From operating systems and software applications, to storage media, wireless communications and satellite positioning, Chinese government agencies and companies are working to shape new technology standards for economic advantage. Deloitte expects Chinese manufacturers to begin by building a critical mass of support at home, then exporting their technologies to emerging markets such as Southeast Asia and the Middle East.
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