Opportunities Flourish in China's Lush Smart City Landscape: IDC Government Insights
14 May 2014
Singapore and Hong Kong, May 14, 2014 – In 2014, several of China's state departments are initiating centrally-led standardization policies and collaborative programs to bring about a more unified approach to Smart City developments.
This is in line with the last-stage development objectives of the national Twelfth Five-Year Plan as planned by the central government.
IDC Government Insights reports the following:
- In 2013, China's Smart City initiatives continue to maintain a rapid state of development, with increasingly more local governments playing an active role in guiding the development of their Smart City projects;
- Centrally-led guiding policies relating to a more unified and structured construction development of Smart City initiatives across the various industries and functional domains have not been issued publicly yet; and
- Nonetheless, strong central government support is evident when the Chinese Premier Keqiang Li recently voiced explicit support for the construction of Smart Cities as a means to boost China's rapid urbanization and socioeconomic growth.
Key findings in the study include the developments, policy background, and market context of China's Smart City landscape. Through a detailed market analysis of the opportunities and challenges, IDC Government Insights found that Smart City initiatives in China typically span across a wide range of geopolitical jurisdictions (e.g., local versus province versus state) as well as functional socioeconomic areas (e.g., key economic sectors and industry players).
More insights are revealed in the report, "Capitalizing On China's Booming Smart City Market: Growth Policies, Opportunities, And Engagement Activities” (Doc #CN243842)
"In 2014, national, local, and industry policies were introduced gradually to ensure China's Smart City construction, followed by a more orderly development regime. With the Smart City ecosystem gaining gradual attention and maturity in China, all participating stakeholders, especially solution providers, need to find innovative ways to work hand in hand with their public sector counterparts so as to develop a working relationship that is sustainable in the long run," says Baogui Ding, senior research manager, IDC Vertical Industry Research and Consulting Service Department, IDC China.
Gerald Wang, research manager, IDC Government Insights adds that cross-geopolitical jurisdictions and specific functional dynamics are at play with each unique Smart City initiative.
“The opportunity gaps for participation exist across all spectrums of Smart City policies, funding, and implementation focuses in China, where ICT plays a critical enabler for pervasive strategic transformations,” says Wang.
He recommends that Smart City executives meticulously align their ICT investments for the longer term with attainable socioeconomic goals rather than unfocused piecemeal programs.
For more information on obtaining this report "Capitalizing On China's Booming Smart City Market: Growth Policies, Opportunities, And Engagement Activities” (Doc #CN243842), please contact Madhura Moulik at email@example.com.
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