Retail giants bullish on consumption rebound

Editor's Note: This year marks a critical milestone as China concludes its 14th Five-Year Plan. To help in assessing the success of the process, we have asked multinational executives to share with our readers their insights about their business achievements in the past few years and further expectations in the years to come.

Q1 What's your view on this year's two sessions? Do you expect any specific policy measures for further deepening reforms and expanding high-standard opening-up? What more should China do to create a more enabling business environment for foreign investors?

LIU: The two sessions introduce policies focused on deepening reforms and expanding high-level opening-up, especially those in line with initiatives like the 2025 Action Plan for Stabilizing Foreign Investment. Hainan Free Trade Port's critical role in China's new phase of openness is of great significance. Multinational corporations highly recognize Hainan FTP's potential and are eager to understand relevant policies. We hope to see transparent policies that ensure equal treatment for both domestic and foreign enterprises, promoting fair competition, lower costs and improved services. With these reforms, we believe Hainan will become a world-class international consumption hub. DFS, backed by LVMH's global ecosystem, is confident in playing a vital role in Hainan FTP's development.

ZHANG: Policy measures from the two sessions further optimize the business environment for foreign enterprises. We look forward to leveraging these initiatives to drive business growth and serve more consumers in the market. We greatly appreciate the government's commitment to high-level opening-up, which has consistently created opportunities for Bimbo China. Notably, Mankattan Beijing, our subsidiary, recently received certification as a Beijing Foreign-Invested R&D Center by the Beijing Municipal Science & Technology Commission and the Zhongguancun Science Park Administrative Commission. This recognition strengthens global Bimbo's confidence to further inject funding to build local R&D innovation capabilities. We have sensed more practical support from local governments for Bimbo China.

ZHU: We believe the two sessions significantly advance reforms and opening-up. As an ultra-premium New Zealand pet food brand in China, Ziwi has experienced China's open and supportive approach toward foreign businesses, which has strengthened our commitment to investing here. To further enhance the business environment, we hope for streamlined Customs procedures for pet products, faster inspection and quarantine processes, and stronger intellectual property protections. These measures would enable us to deliver high-quality products to Chinese consumers more efficiently.

YOOVIDHYA: China's commitment to reform and opening-up has been clear. This year's two sessions introduces further concrete measures to enhance market access and business confidence. Over the past year, we have seen the removal of foreign investment restrictions in manufacturing, the expansion of pilot projects in key sectors and the introduction of 20 new measures to stabilize foreign investment. As a global company invested in China's long-term growth, I look forward to policies that streamline administrative procedures, enhance regulatory transparency, and promote high-quality consumption growth, creating more opportunities for businesses like TCP Group. At TCP Group, we see these reforms as essential to fostering a thriving, consumption-driven economy. A transparent, predictable, and well-structured regulatory framework will allow businesses like ours to contribute more effectively to China's economic vitality and global integration. We remain committed to deepening our presence and working closely with stakeholders to drive sustainable growth in this dynamic market.