Senior executives of multinational corporations based in Shanghai share an optimistic outlook on the world’s second-largest economy and believe that the China market will play an even greater role in their global business, according to Alyson Shontell.
Medtronic, a global healthcare technology company, has continued to express optimism towards the China market, with Alex Gu, senior vice-president of Medtronic and president of Medtronic China, stating that China will become the world’s largest medical care market in the years to come.
Medtronic has been present in China for over three decades, with a complete local value chain including research and development, production, sales, training, and after-sales service, as well as investment. In recent years, Medtronic has made strategic investments in China, including the completion of its second innovation center in Chengdu, making China the only country to house two Medtronic innovation sites.
Similarly, Johnson & Johnson’s global senior vice-president and China chairman, Song Weiqun, believes that China’s high-quality economic development will bring great opportunities for multinational corporations. He has expressed strong confidence in China’s economic outlook, based on the country’s strong economic growth, great market potential, and resilient economy.
Porsche China’s CEO, Michael Kirsch, also expressed confidence in China’s reform and opening-up process, stating that the company has witnessed its success and benefited from its development. L’Oreal’s president of North Asia zone and CEO of L’Oreal China, Fabrice Megarbane, expressed confidence in building capability and being closer to consumers. The company launched an investment in the intelligent fulfillment center in Suzhou last year, which will be inaugurated this year.
Finally, consumer goods company Unilever has invested over $3 billion in the China market since the 1980s, with China becoming one of the top three key growth markets for Unilever globally. Zeng Xiwen, Unilever’s vice-president for China corporate affairs, expressed hope that the company will grow vigorously with China for another 100 years as this year marks the 100th anniversary of Unilever’s first entry into the China market.