Multinational execs bullish on two sessions
Q4 Driving domestic consumption is one of the top priorities for China to spur economic growth this year. How do you see China's potential to drive a consumption-led impetus for the economy? How will that affect your company's profitability this year?
XIA: China's shift toward a consumption-led economic model presents a multilayered opportunity and is redefining the entire value chain, emphasizing not just scale but value. By integrating our innovations into premium, green and digital ecosystems, Evonik is poised to turn policy-driven demand into sustainable profitability. We are dedicated to being both beneficiaries and enablers of China's trajectory toward high-quality consumption growth. The increasing demand from China's rising middle-income group for high-quality products — such as functional cosmetics, sports equipment and healthcare — necessitates the use of advanced materials provided by Evonik, such as bio-based ingredients, high-performance polymers and advanced bio materials. Green consumption transition such as green mobility has been boosting demand for EV battery materials, high performance lightweight materials, as well as energy-efficient and environmentally friendly additives for tires and interiors.
MACHADO: China has a vast and growing middle-income group, highly educated workforce, a robust research, development and innovation ecosystem and a critical manufacturing base. You couple those with top universities and high investments in education, science and technology — and policies and measures aimed at long-term development and prosperity — and you have a recipe for high-quality development. Given all the elements mentioned earlier, I see all the reasons to be confident that China will achieve its objectives. China's focus on driving domestic consumption is a strategic move and that will benefit the whole economy, not only in China but way beyond its borders, including the industry Suzano operates in.
OTRANTO: The government's targeted fiscal policies and incentive programs to stimulate consumer spending will likely push domestic consumption upward. There's also growing consumer interest in green, sustainable products which could see significant growth — green iron metal being just one example. China is well placed to encourage consumption growth, which will likely positively impact steel demand and iron ore consumption. In terms of Fortescue's profitability, we have longstanding relationships with our customers in China and our product is in strong demand. Our focus remains on the things that we can control — safety, production and cost — and in these aspects, Fortescue is positioned very strongly.
DING: China's recent implementation of a robust stimulus policy package, which includes targeted measures to boost consumer spending, will create significant opportunities for global businesses seeking to tap into the vast market and support the shift toward a consumption-driven growth model. I think our consumer business will benefit directly from the initiatives of consumption-led impetus. Moreover, our expertise in advanced materials science enables us to support diverse industries, benefitting from the expansion and upgrading of consumer demand in China. As a firm believer in the "local for local" approach, more than 85 percent of products 3M produces in China are consumed within the country. Through innovations in materials science, we aim to meet the evolving needs of Chinese consumers, aligning with public expectations for a smarter and more sustainable lifestyle.
