Business leaders say digital transformation is the future of the post-pandemic world and want collaboration between China and the US to address the uncertainties caused by geopolitical tensions.

A recent survey of more than 130 global executives based in China shows that they largely desire to engage with consumers and customers digitally and reduce costs with the help of digital transformation as they resume their operations from the COVID-19 pandemic.

The survey, conducted by the Stanford China Program, also shows that 80 percent of the responding companies, spanning many industries and representing more than $ 1 trillion in global revenue, are hurting due to the pandemic, reducing staff due to lower demand, with small companies and non-technology companies suffering more.

While the technology and online companies are twice as likely to be optimistic about opportunities and competition in the post-pandemic world, non-technology companies are pessimistic about market size and competition, said Christopher Thomas, a visiting professor of strategy at Tsinghua University, who presented the survey at a recent webinar held by the Stanford China Program.