With China's supply-side structural reform, the automobile and industrial manufacturing field is confronted with tremendous challenges, including declined consumption needs and decelerated growth rate. To find a way out of this difficult situation, automobile and industrial manufacturing enterprises must invest more in innovations, strengthen R&D cooperation with international companies, carry out international M&A, and expand the overseas markets.
The "Made in China 2025" strategy has been rolled out, and emerging industries are growing at a rapid pace. Driven by these changes, many new and key industries will be benefited, including the new-generation information industry, high-end CNC machinery and robots, aviation and aerospace equipment, oceanic engineering equipment and high-tech shipbuilding, advanced rail transit equipment, energy conservation and new-energy vehicles, electric equipment, agricultural machinery, new materials, and photoelectric technologies.
Along with the robust development in these fields, the demands for language services also boom. It is forecast that the scale of China's language service market will grow by 20% to 25% owing to the development. This is a huge opportunity, and it will significantly influence the LSP market pattern in China.