Industry Pulse about Business, Economy & Finance

Introduction

BritCham Guangdong connects and promotes businesses in the Greater Bay Area and bridges British business with Chinese enterprises. Every month BritCham Guangdong brings you news from our members which you may want to know about - Pulse offers you up-to-date industry insight through a 20-min read. BritCham Industry Pulse aims at joining the dots between our members and their market sectors.

Global Family Business Survey 2021 - China Report

The prevailing COVID-19 pandemic has forced family businesses to make vital strategic decisions both to survive the current crisis and to grow their business over a longer time horizon.

In the PwC Global Family Business Survey 2021, we look at family business priorities in the short and medium term and tracks corporates' progress in key areas such as succession planning and digital transformation. The study also revisits the importance of values and corporate purpose for family firms particularly in light of the current health and economic crisis. Our 2021 global survey captures the insights of 2,801 family business leaders across 87 territories. Of which, 129 executives in Mainland China and Hong Kong have also been interviewed for the China report.

The China report reveals that tomorrow's family business requires a new approach for lasting success—one based on accelerated digital transformation, prioritisation of sustainability goals and professional family governance.

For more details about Global Family Business Survey 2021, please click here.

2021年第二季度《中国经济观察》报告

总体来看，一季度我国经济开局良好，保持了持续稳定复苏的趋势。一方面，受到去年基数较低、“就地过年” 加速复工复产等因素影响，一季度经济指标同比增速普 遍大幅反弹，GDP同比高增18.3%，创历史最高季度增 速。另一方面，经济环比增速有所放慢，复苏势头逐渐回归正常化。一季度GDP环比增长0.6%，较去年四季度增速回落2.6个百分点。随着疫苗接种不断推进、疫情继续得到控制，我们预计二季度中国经济将继续复苏， 消费对经济增长的贡献也将不断提高。

一季度工业生产继续支撑我国经济增长，同比大幅增长24.5%。综合过去两年表现，工业生产平均增长6.8%，处于近5年来同期较高水平，拉动了整体经济的复苏。受生产前置、环保限产力度加大、芯片短缺以及原材料价格上涨等因素影响，3月工业增速较1-2月略有回落。但3月官方制造业PMI录得51.9， 连续13个月处于荣枯线以上，显示工业生产动能依然延续扩张态势。同时，产业加快转型升级，高技术产业和装备制造业实现较快增长。 

受去年低基数的影响，一季度中国实际GDP同比高增18.3%（图1），两年平均 增速为5%，较去年四季度下降1.5个百分点。从季调后的环比增速来看，一季度环比增长0.6%，较去年四季度的3.2%回落2.6个百分点，低于往年同期水平。 总体来看，一季度我国经济开局良好，总体处于稳定复苏过程中，但年初疫情 的局部爆发使得经济复苏步伐趋缓。随着疫情得到控制以及疫苗接种的不断推 进，我们预计二季度GDP环比增速将加快，复苏动能也将逐步从出口和生产拉 动转向消费和制造业投资拉动。 

For more details about 2021年第二季度《中国经济观察》报告, please click here.

Accelerating Digital Finance

The pandemic has been a technological catalyst. It has caused change on a greater scale and at a faster pace than any firm's planned IT strategy or any regulatory initiative. Initial lockdown measures to manage the pandemic caused years of change to take place in months, as firms moved to, and continue to operate, large-scale remote working. Some firms were better placed to handle this rapid increase in use of technology and digitalisation of services and delivery, others less so. Disruption by new technologies became more palatable during the pandemic, resulting in faster adoption and progress, but introducing risks that will outlast the pandemic and its after-effects. 

The pandemic also saw greater cooperation between industry and regulators to help consumers. And it has provided added impetus to governments' and regulators' plans to encourage moves towards digital finance, including digital currencies, and to adjust laws and regulations to reflect these new forms of finance and the widening use of technology. This paper touches on a number of key themes in the growing stream of outputs from policymakers and regulators. Developments in digital finance could transform how consumers and businesses make payments and raise finance and could assist economic recovery. Regulators recognise the benefits of new technologies and the digital society but are concerned about new and heightened risks. They are seeking to encourage market entry by new types of firms and technological tools – BigTech and FinTech – but are conscious of the need to redefine the regulatory perimeter and to avoid an unlevel regulatory playing field. They are concerned about the size and scale of infrastructure providers and the potential implications for competition and resilience. 

For more details about Accelerating Digital Finance, please click here.