Studies have shown how Chinese businesses typically respond quickly to crises and with innovative solutions and agility. Agility is about linking hyper-awareness with decision-making and decision-making with action – all at speed. In a clear demonstration of agility, Huanxi decided to fundamentally change its distribution approach and turned to an unlikely partner: ByteDance. ByteDance is the Chinese company behind the blockbuster app TikTok along with a number of native Chinese apps like Douyin, Jinri Toutiao, Xigua Video and Huoshan Video.
Read More: World Economic Forum