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Enforcement of cyber and data security regulations will further ramp up in 2022 and beyond as China prepares for launching its digital economy into a higher orbit. While China moves along its digital path, it also fortifies its regulatory framework, creating significant compliance and operational challenges that companies need to be keenly aware of.
By Finn Mayer-Kuckuk
Common prosperity will guide the Chinese government's policies towards a more equal society. China is expected to issue substantial policies improving workers’ benefits and providing more comprehensive social welfare while strengthening prosecution of illegal incomes of the wealthy. In 2022, the negative short-term effects for businesses caused by higher labor costs might dominate, but a growing middle-class with high purchasing power can create a new customer base in the long term.
By Finn Mayer-Kuckuk
China will selectively improve market access to keep attracting foreign investment. But “buy local” preferences will continue in sectors that China’s government sees as strategic to national security. Once in the market, companies will be bound even tighter to strictly follow China’s market rules as the government rolls out more data-driven market governance tools.
By Finn Mayer-Kuckuk
Supply chain management will continue to have hard times in 2022. Given the Winter Olympics and Party Congress, China’s government will not veer away from its Zero-Covid strategy, risking closure of production sites and delivery delays. In addition, geopolitical tensions increasingly put companies at the crossroads between complying with US/EU laws and avoiding the ire of the Chinese government.
By Finn Mayer-Kuckuk
China won 100 medals at the 2008 Summer Games in Beijing, more than any other country. The People's Republic will certainly not reach the first rank in the medal table this time at this year's Winter Olympics. However, China's athletes have been winning medals in short track and ski freestyle for years. They also have good chances in these disciplines this time. In cross-country skiing, bobsleigh and ski jumping, on the other hand, China is expected to have a hard time. Even the myriad of foreign coaches of the Chinese teams could not change that.
By Christiane Kuehl