International businesses also believe that technology-related products and services will achieve their fastest growth in China, reflecting the sophistication of Chinese consumers and their demand for products that can enhance their lifestyles.
Investors noticed.
Innovative startups have taken the lead in cutting-edge technologies in China, said Xu Heping, former director of the Office of Policy Study under the General Office of the Ministry of Science and Technology.
Intense regulatory pressure and policy uncertainty are other concerns as they could mean suspension or even complete shutdown of their operations.
Initially, the JP Morgan researchers said they gauged the impact of the shutdown on demand and considered the drop in spending that would follow as social distancing expanded and lengthened in duration. Later, the economists factored in supply-side demand as more states imposed stay-at-home orders that limited production.
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Innovation wave
Inspectors check the quality of heating devices in Huaibei, Anhui province, in December. LI XIN/FOR CHINA DAILY
Instacart’s secret sauce is a lack of infrastructure — the heavy-duty stores, trucks and people needed to build out a delivery business. Instead, the company is following in the path of crowdsourcing companies like Lyft and SideCar, partnering with personal shoppers who will run to the store to pick up your orders and drop them at your house.
Inspectors check the food quality at a supermarket in Beijing's Xicheng district on Wednesday. Zou Hong/China Daily