How COVID-19 Reshaped Tech Companies: Insights from 13 CEOs

1. Tech Companies' Situation and Response

To understand the real impact of COVID‑19 on technology firms, the Suning Retail Technology Research Institute and Jiangsu Internet Association conducted in‑depth interviews with 13 member companies across blockchain, IoT, remote collaboration and logistics.

All respondents reported project delays, supply‑demand imbalances and reduced operational efficiency.

1.1 Blockchain projects delayed, new scenarios needed

Despite strong policy support since October 2019, the pandemic halted many planned workshops, collaborations and demonstrations, slowing blockchain adoption in traditional industries.

Companies such as Suzhou Heiyun Information Technology see new opportunities in charitable applications, where blockchain ensures transparent, traceable donations.

1.2 IoT supply‑demand contradictions

IoT hardware faced hiring shortages, rising labor costs, production delays and logistics bottlenecks, while demand from sectors like automotive and smart home weakened.

Firms are adjusting supply strategies, establishing regional supply centers, and accelerating smart‑manufacturing and digital industrial solutions.

1.3 Traditional business hindered, remote collaboration issues

Enterprises reliant on offline models (hospitality, pharma, finance) suffered severe revenue drops.

Many turned to digital platforms to migrate services online, using third‑party solutions for contact‑less experiences and improving remote work efficiency.

1.4 Logistics hit by delayed re‑opening, big data & AI drive transformation

Logistics demand fell sharply as factories and trade paused; companies reported only 20% of normal volume in February.

Experts recommend leveraging big‑data analytics and AI to create “smart+” logistics, improving routing, sorting and customer experience.

2. 2020 New Growth Points for Tech Companies

2.1 Blockchain for charitable traceability

Hangzhou QuLian Technology launched the “Shanzong” platform, using consortium blockchain to provide end‑to‑end transparency for pandemic‑related donations.

Other CEOs note blockchain’s potential in governance, credit, risk prevention and medical approvals.

2.2 Accelerated IoT integration with daily life

IoT, backed by national policies, is expanding into factories, cities, healthcare, vehicles and homes, with McKinsey projecting a market exceeding $7.4 trillion by 2025.

China Unicom developed thermal imaging, home isolation control, 4G health‑monitoring wearables and real‑time medical waste monitoring to support pandemic control.

2.3 Enhanced digital collaboration to mitigate external risks

Enterprises are shifting from traditional IT to cloud‑based intelligent operations, leveraging 5G, big data and cloud computing for internal and external coordination.

Financial firms are building remote training platforms to reduce marketing costs and improve knowledge sharing.

2.4 Smart logistics transformation

Large players like Suning used global supply chains to source medical supplies, while traditional logistics firms face pressure to digitise.

Smart logistics, powered by data, aims to optimise the entire supply chain—from transport to storage and delivery.

3. Expert Opinions: Government Should Strengthen Support for SMEs

Experts argue the pandemic will filter out weaker firms, leaving resilient, innovative companies as industry pillars.

They call for increased financial, resource and scenario‑based assistance for small and startup firms, especially in blockchain and IoT sectors.

4. Reviving Momentum with “New Infrastructure”

Recent central government meetings emphasise accelerating 5G, data centres and other new‑type infrastructure to counter economic slowdown.

Economists suggest that while AI, cloud computing and industrial internet are key, traditional projects like high‑speed rail and charging stations also remain vital for balanced growth.