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Business / Economy

Executives survey the prospects for China's future prosperity

(China Daily) Updated: 2016-03-16 09:54

Executives survey the prospects for China's future prosperity

Stephen Maher, President, Mondelez China. [Photo provided to China Daily]

A1: I think the growth range sends a positive signal to business. It means China will balance the need to stimulate the economy, while implementing wide-ranging economic reforms. A range target provides this flexibility and a high degree of predictability. We need to remember that China is as large as a continent and is the world's second-largest economy. This continued and yet flexible focus on growth will unlock vast opportunities throughout different regions at the city level for businesses such as Mondelez.

A2: The western region and the hinterland provinces represent real opportunities for us. We can modify our proven models from our previous expansion in the coastal cities over the past 20 years. While the government is encouraging urbanization and job creation in the hinterland region, we will experience a lot of synergy. The Chinese government knows very well how to unlock the potential and deliver urbanization, manufacturing and infrastructure jobs.

A3: Internal consumption is increasingly becoming a key driver of the Chinese economy. Companies on the supply side need to innovate and transform to provide products that meet the changing need of Chinese consumers. This is not unlike the situation in large economies such as the United States, Europe and Australia. For our company, innovation, premiumization, distribution and accessibility of our snacks to the consumers are more important than ever before. It is an exciting time for us, as we are meeting a true challenge of transforming our business model to meet the new consumption-led model of China and the accelerating growth of e-commerce.

A4: We welcome the government policy of easing taxes, as it will be a very positive signal of support to the business community and encouragement to further invest in China. Mondelez has been operating in China for more than 30 years. We have consistently received government support and encouragement for our business. We will continue to focus on the fundamentals of the marketplace, and transform and evolve with the Chinese economy. Our mission is to manufacture high-quality and safe snacks and bring delicious moments of joy to consumers. The direction and leadership the Chinese government is providing to manufacturers will help drive further consumption growth at all city levels.

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