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Changes Afoot in Chinese Industry
In an interview with China Daily, the secretary general of the China Marketing Research Association has urged domestic research agencies to develop new growth areas quickly so as to adapt to changing circumstances in the sector.
According to Li Li, market research demand for the least market-oriented industries is expected to pose big risks in the coming years. This is because China must gradually open up these industries for competition now that the country has become a World Trade Organisation member.
Li Li predicts that several categories of research information will see an increase in demand, including financial services, advertising and media, equipment manufacturing and customer satisfaction.
Up until now, domestic research companies have concentrated on the manufacturing of consumer products; durable consumer products; advertising; and media, which respectively account for 19.2%, 7%, 20.1% and 15.6% of the industry's total business.
However, it is undoubtedly the case that these newer growth areas will require more professional personnel and methodology from the Chinese research industry.
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