55% executives in China would actively engage external sources to collect new ideas for applying emerging technologies compared with 64% globally. 41% executives would spend more than 15% of revenues to digital spends according to PwC’s 2015 Global Digital IQ Survey.
45% respondents in China see digital technology as being almost synonymous with IT (37% globally) and 65% see it as being incorporating all technology innovation-related activities (53% globally).
Companies were investing 34% of digital budgets on IT (32% globally) and 33% on marketing (27% globally) in 2015, far higher than sales (10%), customer service (9%), operations (8%) and enterprise functions (8%).
Business leaders in China were focusing in IT and marketing to promote revenue growth. More than half of business leaders in China (56%) were confident in their organization’s digital vision and capabilities, which were higher than the global average. However, only 49% supposed they effectively utilized all the data they captured.
Nearly nine out of ten executives (86%) in China said executives responsible for digital were involved in setting high-level business strategy (77% globally). 84% showed their digital strategy was agreed upon and shared with the executive teams and 47% would share with the whole organization.
Companies (92%) in China saw creative strategy and design skills as most critical to their business but only 68% believed their skills in this area as developed. 55% executives in China would actively engage external sources to gather new ideas for applying emerging technologies while 64% globally.
Overall, China’s executives and companies were positive and active on digital owing to ubiquitous mobile and social media with consumer spending and online behaviors. Embracing the potential of data would drive the digital strategy as a critical factor for success.