The recently released 14th Five-Year Plan fully recognizes China’s latest achievements in the industrial sector and sets out expectations for the next stage of the development of Chinese enterprises. For manufacturers in the Chinese market, the deep integration of productive services and technology products, as well as the integration of digital solutions with traditional industries, is key to future business growth and future market leadership.

European enterprises urgently need to refer to China‘s national industrial development strategy, make full use of the company’s existing resources and teams in China, timely try new technologies, new products. It is recommended that European companies focus on gathering practical experience on new business models and make an initial attempt at valuable business opportunities. Furthermore, they could further develop the enterprise‘s business adjustment in China. Predictably, the corresponding adjustments are at least partially subversive. This is also important for the direction of its global enterprise development.

2021 is the launch year of the latest five-year plan, and when all parties in the market are on the same starting line, the company management team and talent pool will be the factors that determine the outcome. Therefore, European companies also recommend reviewing their human resources to ensure that there are people who can do things rightly and others who can do the right thing.