What will happen in 2018 in China in other industries? Let’s see what the McKinsey.com website predicts.
Automotive: Electric vehicles
In the automotive industry, producers will be required to increase sales of electric vehicles substantially for the next five years. Regulation will order them to focus more on new-energy vehicles. The number of traditional combustion-engine vehicles should decline. If producers don’t fulfill this goal, they will have to pay to offset carbon credits.
Another aim of regulation is enhancing fuel efficiency. The government wants to dominate the electric-vehicle market by 2030. China is already the leader in both supply and demand of these vehicles.
By 2020, the industry will get USD 50 billion in subsidies. Furthermore, Chinese battery producers are hiring talent from South Korea and the US, and this industry is growing as well.
Pharmaceutical industry
We can expect an increased number of major launches, primarily by multinational companies. Patients now have better access to drugs through online services, and there are billions of dollars ready to be invested. Chinese companies are active not only in biotechnologies, but also in healthcare services and start-ups in the med tech field.
In tech and finance, major Chinese players are entering into AI and big data–based projects. They are cooperating with local governments and hospitals, trying to help deliver better care for patients. Multinational companies are active in these industries as well. Sales representatives will no longer be able to pressure doctors to sell their drugs to patients anymore.
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