Food firms hungry for place at China's big table

Q3 China's economic policymakers have assured greater efforts to attract foreign capital, widen market access and ensure a level playing field for both domestic and foreign companies. In this context, what new policy measures do you expect from Chinese authorities in the near future?

CHEN: China's economic development faces a pivotal challenge in transitioning from traditional manufacturing to innovation-driven quality development. This transition requires additional investment in scientific and technological innovation to upgrade technical strength and overall business competitiveness, and ultimately drive green and low-carbon digital transformation.

LDC has actively responded to China's policies, most recently building its global R&D center in Shanghai, which serves as the focal point for LDC's product innovation and R&D activities in China.

We are committed to investing in innovative agriculture-related technologies, techniques and solutions, contributing to the industry's digital transformation, green energy adoption and more sustainable supply chains.

The recent new policies introduced by the Chinese government promise development across a series of areas — market access, tax incentives, intellectual property protection, financial support and simplified administrative procedures. These favorable conditions reduce the burdens and barriers that foreign enterprises face when entering the Chinese market and enhance business competitiveness, encouraging further technology- and innovation-driven investments and activities.

The implementation of these measures confirms our confidence to continue investing in and growing with China, playing an active role in the Chinese market, and pursuing initiatives that promote mutual prosperity for both LDC and the Chinese economy.

ZHU: From a pet food brand perspective, as the Chinese economy continues to develop, it brings challenges to the pet food industry. More and more brands are entering the Chinese market, providing consumers with a wider range of choices. To compete effectively in the market, brands need to remain agile, constantly innovate, adapt to market changes, and proactively respond to consumer demands. Furthermore, establishing a strong brand reputation and providing transparent product information are key factors in maintaining a competitive edge. We are looking forward to having more policies that will support the development of the pet food industry.

VAN KARNEBEEK: In the post-pandemic world, we are faced with the same challenges — boosting confidence and attaining economic recovery. China's GDP grew 5.5 percent year-on-year in the first half of 2023 and the Chinese economy has demonstrated strong resilience, enormous potential and great vitality. The State Council recently issued a document about opinions on further optimizing the foreign investment environment and intensifying efforts to attract foreign investment, which is exciting news for us. We will continue our investments in China to achieve business growth and long-term development.

COURTNEY: As an exporter from a small country, we are acutely aware that to operate successfully in the global trading environment and within any of the large economies of the world, we need certainty. Certainty comes from the consistent application of rules and policies that give us the confidence to invest in building a market through nurturing our customer relationships, building our brand and investing in our people to bring our business strategy to life. It is not for us to comment on specific policy changes in any of the markets we do business in, other than to say if policy changes are in line with an open trading system that allows us to conduct our business with confidence and certainty, then we welcome them.