MNCs keen to grow amid further opening-up

Q4 This year marks the 45th anniversary of China's famed reform and opening-up policy. In this context, in which areas do you expect more progress? How is your business likely to benefit?

XU: The aviation industry, with its explosive growth, is both a witness and a beneficiary of China's 45 years of reform and opening-up. Before the pandemic, China had already become the world's second-largest aviation market after the United States. As of today, China is the largest single-country market for Airbus commercial aircraft and represents over 20 percent of Airbus' total deliveries in recent years. With a fleet size reaching over 3,900 at present, China is forecast to increase its air traffic by 5.3 percent annually over the next 20 years, significantly faster than the global average of 3.6 percent, and is expected to become the world's largest aviation market in 2030.

The supply chain in China has shown great industrial resilience and competitiveness during the past three years as there have been no major disruptions in operations even in harsh situations, which demonstrates its strong capability to grasp future opportunities in Airbus' ramp-up plans.

WU: China's four decades of reform and opening-up have created huge opportunities for companies of various sizes, yet China is facing new challenges. To succeed in China over the next decade, and to effectively manage risks, foreign companies will need to craft more sophisticated strategies. And BCG can help them understand the structural shifts underway in China and adapt their strategies accordingly.

JUANG: Having been a participant and beneficiary of China's economic development, HP has earned the trust of millions of Chinese customers not only by providing reliable and high-quality products and services, but also by ensuring we make an impact in local communities. Climate change, for example, is one of the most urgent issues demanding our collective attention and action.

HP fully supports China's efforts to peak carbon emissions by 2030 and reach carbon neutrality by 2060. We have introduced in China a comprehensive set of energy-efficient products with sustainable materials that help our customers to decarbonize in their own business operations.

CHUNG: China's reform and opening-up have brought the Chinese economy into a whole new phase of development. For 30 years, Nippon Paint has grown and developed together with the Chinese market, sharing the huge dividends brought about by China's reform and market opening, and has achieved tangible development. Nippon Paint China is headquartered in Shanghai, with over 70 production and supply chain bases and over 10,000 employees nationwide. Due to reform and opening-up, Nippon Paint has not only gained market capacity, but also attracted a lot of talent and promising opportunities for future development.

LECLERC: As the first international consumption brand that re-entered the Chinese mainland in 1979, we have greatly benefited from this market. In 1979, we had only one Coca-Cola product. Today we have brought a total beverage portfolio with more than 20 brands offering around 100 beverage choices to Chinese consumers. The Chinese market has now become our third-largest in the world. We expect to see a more prosperous and vigorous business environment. Our determination and commitment to growing together with the Chinese market are unwavering.