CPA Australia: Mainland Chinese businesses lead the way in technology usage in Asia Pacific

• Survey reveals Mainland Chinese businesses lead technology
  usage in region.
• 91 per cent of survey respondents expect to increase technology investment.
• Cybersecurity concerns identified as a key barrier to technology
  adoption.

BEIJING, CHINA – Media OutReach – 27 August 2021
– Mainland Chinese businesses were strong performers in technology adoption and innovation over
the past year, according to one of the world’s largest professional accounting
bodies, CPA Australia.

 

Among surveyed markets, they were the
most likely to use artificial intelligence (AI), business intelligence (BI)
software, customer relationship management (CRM) software, data analytics and
visualisation software and enterprise resource planning (ERP) software in the
past 12 months. The survey also found that high growth businesses are much more
likely to use these technologies than other businesses.

 

Further, 96 per cent of surveyed respondents
reported that their employers undertook at least one technology-related project
in the past 12 months, the highest among all surveyed markets.

 

CPA Australia surveyed 725
professionals in different industries from Mainland China, Hong Kong, Macau,
Singapore, Malaysia and Australia. The survey results
are included in CPA Australia’s Businesses Technology Report 2021.

 

“It’s very positive to see that Mainland
Chinese businesses are leading usage in almost all these technologies,” said
Tony Chan, Deputy President of CPA Australia’s South China Committee, “We are glad to see Mainland
Chinese businesses have undertaken various technology-related projects.

 

“There is a connection between
technology usage and business performance. Their strong focus on
digitalisation and innovation will enable Mainland Chinese
businesses to not only keep pace with new technology trends, but also to lead
them,” Chan said.

 

“With Mainland China’s 14th Five-Year Plan
identifying innovation and technology as a core national priority, combined
with favourable policies announced by the central and local governments as well
as the rapid deployment of 5G technology, we are confident this positive trend will continue,” Chan said.

 

Ninety-one per cent of Mainland Chinese respondents expect their
employers to increase investment in or use of various technologies in the
coming 12 months. Data analytics and visualisation software, cloud technology,
BI software and AI are the technologies that Mainland Chinese businesses will
most likely increase investment in or use of in the next 12 months.

 

Although strong technology adoption has
brought many benefits, it’s not without its challenges. According to the survey,
respondents from Mainland China were the most likely of the markets surveyed to
identify cybersecurity concerns as a key barrier to business technology
adoption.

“The survey findings show that
Mainland Chinese companies are more likely to adopt and invest in advanced
technologies such as AI and BI software that rely heavily on data. It’s therefore
not surprising that 41 per cent of Mainland Chinese respondents nominated
cybersecurity concerns as a major challenge to business technology adoption,”
said Wilson Feng, Member of CPA Australia’s East and Central China Committee.

 

“The data reveals that Mainland Chinese
businesses are taking action to meet this challenge. Forty-seven per cent of
surveyed respondents from Mainland China reported that their employers had
increased investment in cybersecurity software in the past 12 months.
Twenty-eight per cent expect their employers to increase investment in
cybersecurity software in the next 12 months,” Feng said.

“It is essential that digital transformation and risks mitigation go
hand in hand. Businesses should also plan and execute strategies that manage
potential risks to their network, data and technology tools to ensure that the
organisation is safeguarded from threats.” Feng said.

CPA Australia technology recommendations

1. Implement a long-term digital transformation
   strategy that aligns technology with your business’ culture, employees, risks
   and objectives, and embrace opportunities in the global market.
2. Take advantage of the 14th Five-Year Plan’s focus
   on technology innovation to introduce new products and services.
3. Encourage innovation by developing a
   technology talent pool and adopting innovative approaches to retain top
   technology talent.
4. Keep abreast of emerging technologies and
   utilise big data to keep improving business operations and increase international
   competitiveness
5. Review compliance with cybersecurity and relevant
   data security laws and policies in Mainland China.  
6. Commit appropriate resources to raising
   employees’ cybersecurity awareness.

Businesses Technology Report 2021 (English
only)