China: 30 Ways Companies are Reactivating Business and Reimagining the Future Beyond COVID-19
Companies in China that acted swiftly and decisively are likely to emerge stronger out of the COVID-19 crisis, and will be better prepared to withstand the next major disruption, according to an article from McKinsey.
As the first country to suffer the outbreak of COVID-19, the Chinese economy was severely affected, with official statistics declaring first-quarter year-on-year GDP growth at negative 6.8 percent.
Leading companies across sectors responded swiftly with a range of measures aimed at protecting their employees’ health and safety, and engaged in creative ways to protect their business.
Well before the outbreak subsided and lockdowns were lifted, they worked hard to find ways to reactivate business activities, identify new platforms for growth, and position themselves to survive the crisis—and thrive beyond it.
Some firms doubled sales during the crisis, while others acquired tens of millions of new customers.
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