The nationwide lockdowns have boosted the faster adoption of cloud services in digital business operation and remote communication tools. More enterprises are also starting to adopt cloud solutions to improve operation resilience and reduce operational costs.
UOB Kay Hian analyst Julia Pan has maintained her “overweight” recommendation on the Chinese internet sector as she expects an accelerated digital transformation post Covid-19.
She noted that the Covid-19 outbreak has boosted the development in digitalisation in enterprises in multiple industries, such as retail market public services, finance, healthcare, with many others increasingly recognising the importance of digitalisation.
