World CEOs optimistic about China's economic outlook
Jean-Paul Agon, Chairman and CEO of L'Oréal Group
We are deeply impressed by the determination, speed and pragmatism of the Chinese government to contain the epidemic, as well as the discipline, solidarity and heroic spirit of the Chinese people.
We are proud to make a contribution of 5 million yuan as an expression of our most profound solidarity with the Chinese people, especially people in Hubei province. And we will make continuous efforts to support epidemic containment as well as for the recovery. As a foreign company that feels close to China, L'Oréal will always be fully supportive and united with China and Chinese people especially at such a special moment.
In the past few years, China has made great efforts to make the Chinese market more stable, transparent and predictable, as well as fairer in terms of competition. It has also been a force of prosperity and stability -- from streamlining administration and delegating power to reducing taxes and fees, and from continuous integration with the international community to localization and innovation. As the pace of reform in recent years has sped up, its execution has become more efficient, and China has opened its doors even wider. The more the business environment improves, the more confidence we have in the Chinese market. China is not only set to become the world's largest economy and L'Oréal's biggest market – it is the laboratory of the future.
