China’s new leadership is setting new directions, or rumors suggest industries might but under scrutiny But the advertising industry is not one of the sectors the new leadership is likely to address, tells marketing guru Tom Doctoroff in Adage.
Incoming President Xi Jinping, Premier Li Keqiang and several other top leaders in the new administration cut their teeth in booming coastal areas where foreign investment was an important factor in the local economy. None has any ties to marketing, but the industry is expected to continue growing without much interference from Beijing, especially because advertising isn’t considered a “strategic” industry, like energy, food or infrastructure.
“The government focuses on things that directly affect the lives of groups of consumers, and advertising in that sense is not threatening, so it’s given a fairly wide leash,” said Tom Doctoroff,JWT‘s Shanghai-based Asia-Pacific CEO…
China’s economic growth is slowing, which makes marketers nervous. Local marketers are looking for Beijing to respond pragmatically, but multinationals may have more acute worries, “driven in large extent by the global anxieties of their headquarters,” Mr. Doctoroff said.
The China Weekly Hangout discussed on November 1, 2012 what direction the new leadership under Xi Jinping is likely to take, with Greg Anderson, Janet Carmosky and Fons Tuinstra.
- Is Xi Jinping ready for real change? – Zhang Lijia (chinaspeakersbureau.info)
- Starbucks: Symbol of wealth – Paul French (chinaherald.net)
- High speed train: pushing services and urbanization – Shaun Rein (chinaherald.net)