Business ideas emerging in China during Covid-19 | Forum

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freemexy Jul 17
However, as in all known crises, a lot of new business ideas and opportunities have come out of the prevailing crisis. Online-to-offline commerce (O2O) is on the rise, the demand for 5G has increased, and the need for online education has skyrocketed.To get more shanghai latest business news, you can visit shine news official website.

New shopping preferences have necessitated mass changes in China’s labor market. Employers need to hire locals with extraordinary skills and talents; workers with the needed muscle to withstand the harsh realities of the ongoing lockdown and social distancing.

Note that these talents are needed within days, not weeks if the companies are to continue providing their services seamlessly. Foreign companies cannot pull this off without the help of an international PEO (Professional Employer Organization).

That is why PEOs are playing a key role in shaping current employment trends in China.With proper workforce management strategies, mostly through international PEO, the following business ideas are thriving across China:

1. Online entertainment

As a result of China being under lockdown, event venues and cinemas remain closed. The consequence of this is almost 600 million short online videos being recorded, shared on social media, and streamed live on different video streaming sites.

More and more artists are performing virtually and online movie premiering is quickly becoming a trend.

2. Grocery delivery apps

Chinese consumers are wary of person-to-person Covid-19 infections and as a result, they are reluctant to go to offline grocery stores.

Online grocery shopping is picking pace fast and with it, downloads for grocery delivery apps have skyrocketed. Traders who were reluctant to take their grocery stores online are now struggling for survival.

3. Online games and live webcast

With more people staying indoors now, the demand for online games and live webcast has increased by over 500 percent. The online gaming industry in China is now a billion-dollar industry, up from about $218 million.

4. Increased demand for cloud service

Remote working was not very popular in China before Covid-19 turned everything upside down. Most Chinese companies are setting up new remote teams for the first time, which explains the upsurge in demand for cloud service.