Strength Through Diversification: Opportunities across Asia Pacific

food e-commerce sales in China in 2022 recorded a 20.3% annual growth rate, which will only result in extra demand for additional cold storage logistics capacity. Given the changing dynamics within the global manufacturing sector, mainland China’s manufacturing corporates will need to continue to innovate and upgrade in order to remain competitive. By promoting an innovation-development strategy, China’s manufacturing corporates will then be in a position to further develop their talent, strengthen their scientific and technological research and ultimately produce and sell quality cutting-edge products. This is already yielding significant success, with China leading in 37 out of 44 key technologies [8] . Currently, across many industries in mainland China, there is evidence of cutting-edge products being produced in the country. One example of this can be found in mainland

China’s automotive sector, with the rapid growth of electric vehicle (EV) technology.

As early as the 2000s, new energy vehicle advancement in the county was first looked into. In the 2010’s, related R&D and EV adoption policies were enacted. Along with this development, mainland China’s automotive manufacturing sector has been able to make inroads into more progressive and cleaner technologies and today, mainland China has now become the world’s largest exporter of new EVs, surpassing Japan, the U.S., and Europe.

[8] https://www.aspi.org.au/report/critical-technology-tracker

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STRENGTH THROUGH DIVERSIFICATION: OPPORTUNITIES ACROSS ASIA PACIFIC