There is great potential in China's market

Editor's Note: The Communist Party of China will hold its 19th National Congress on Oct 18. In the runup to the meeting, China Daily interviewed business leaders from major multinational companies for their views on economic developments here and the country's global leadership role.

Q&A: Curt Ferguson, president of Coca-Cola Greater China and South Korea.

How do you view China's role in the world today?

The country has played a crucial role in the global recovery with sustained prosperity. We are happy to see that China has become better integrated into the world economy and now plays a more (active) role in global affairs.

For Coca-Cola, we continue to believe that China's market will serve as a driver for our business.

As one of the first companies based in the United States to return here in the 1970s, we are committed to creating long-term value for our stakeholders by contributing to the future development of the country.

What is your impression of President Xi Jinping?

It could be a daunting job leading the second largest economy of the world. But President Xi is a visionary leader.

Under his leadership, China has maintained stable economic growth and played an increasingly important role globally. We remain optimistic about China's economic and market growth in the future under President Xi's leadership.

What three words describe China today?

Globalization. As the second largest economy of the world, China has become a champion of globalization. As a multinational corporation operating here, Coca-Cola is very pro-trade and embraces open markets. We are fortunate to have had the opportunity to forge a strong, local partnership and to serve our Chinese consumers. Also, we have shared our experience of managing a truly international business in more countries and regions than there are members in the United Nations.

Innovation. China is emerging as a global leader in many aspects. Innovation has been the driving force as China becomes a more consumption-based economy. Aiming to satisfy the changing consumer landscape, we have made innovation a top priority to ensure sustainable growth. Our innovation and development center in Shanghai is our largest outside the US.

Confidence. China's economic growth during the past several decades has been among the highest in the world. It is expected that China will maintain a medium-to-high level growth rate with domestic consumption one of the key drivers of the economy. I feel confident about China's development, and at company level, we see great potential in this market.

Could China's experiences and practices be used to solve global problems?

In recent decades, China has seen rapid economic growth and has built a moderately prosperous society.

These have provided valuable policy experiences and tools for economic development, which many countries could learn from.

Now, China is gradually changing to a consumption-fueled and innovation-led economy, while keeping growth steady. An economically stable and growing China not only contributes to the global recovery, but also offers models for other developing nations.

As a Fortune 500 company, which sectors do you think offer the most opportunities for development?

The world is connected more closely than before and economic globalization is the dominant trend. China will pursue its development by adhering to its vision of innovation, sustainable growth, and coordinated and shared development in the global arena.

China's consumer landscape is evolving and that offers more opportunities. We are (also) evolving into a total beverage company for our consumers with (multiple) choices and easy-to-access nutrition information. Our research and development center in Shanghai is the largest outside the US and signifies our commitment to China.

Sustainable growth (is another important area). Under the 13th Five-Year Plan (2016-20), China has been pursuing a low-carbon model and lifestyle to promote green development and protect ecological systems. This is aligned to our sustainable strategy to build a culture of environmental innovation. We strive to promote a broad range of sustainable programs together with suppliers, local communities and other stakeholders. And we will remain committed to these because like our mantra, "We are here, and we care".