Execs voice confidence in China's consumer market

Q3 China's economic policymakers have assured greater efforts to attract foreign capital, widen market access and ensure a level playing field for both domestic and foreign companies. In this context, what new policy measures do you expect from Chinese authorities in the near future?

TAN: China has made great achievements in economic development, but is also facing many challenges — an aging population, environmental pollution, high-tech bottlenecks and income imbalances need to be addressed.

The newly introduced policies to attract foreign environment and optimize the business environment propose 24 policy measures in several aspects — the protection of intellectual property rights, the improvement of investment and operation facilitation, and the improvement of foreign investment promotion methods. These measures have played a significant role in inspiring us and giving us more confidence in investing in China.

SUN: China's State Council issued a guideline this year, regarding further optimizing the foreign investment environment and intensifying efforts to attract foreign investment. The guidelines to improve the overall balance between domestic and international investments and foster a world-class business environment that is market-oriented, law-based and internationalized are good moves and a step in the right direction. Hugo Boss will continue to actively pursue its development in China and maintain its relationship with various Chinese stakeholders.

BOZEC: We look forward to collaborating with more local partners and investing in the Chinese market to bring new innovations to China's fashion industry, promote high-quality products and new experiences, and inspire better lifestyles for our Chinese consumers.

MACHADO: China has made efforts to continue its high-standard opening-up and create a better business environment for foreign companies. In August, China issued a 24-point guideline to improve the environment for foreign investment and attract more capital. From this, Suzano sees China's commitment to expanding foreign investment and promoting its economy. We believe that Suzano will continue stable development in China in the long term.

Like other big economies in the world, China faces challenges and we cannot deny or underestimate them. But this is not the first time that China has experienced challenges. However, China's ability to overcome is excellent. China has the tools and means to continue to thrive. Our commitment to investing in China, improving customer service, and fostering local partnerships underscore our confidence in the country's economic strength.

ZHAI: As of now, China's economic development does face some challenges — economic growth is still recovering. As the economy returns to normal, there are still challenges facing the rapid recovery following COVID-19. From the international market, China's economy is moving from high-speed growth to high-quality development. Thus, seeking a new driving force becomes increasingly important.

We have received support from local governments in market access and project construction. From the full effect of the RCEP(Regional Comprehensive Economic Partnership), the group's factories have not only obtained the RCEP certificate, but also effectively saved operating costs and achieved operational efficiency through policy facilitation this year.

In the future, we hope that relevant policies and measures can be more detailed and implemented, benefiting more regions and industries to provide a better business environment for multinational enterprises and provide more convenience for our investment in China.