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Executives share expectations for 2023 market

China Daily Updated: 2023-02-23
(from left to right) Jan Craps, CEO and co-chair of Budweiser APAC;Wu Dongming, CEO of DHL Express China; Bijoy Mohan, executive officer and executive vice-president of LIXIL Corp; Hiroshi Hamaguchi, chairman and president of Astellas China; Wan Shiping, general manager of Aveva China.

Editor's Note: China Daily is publishing interviews with senior executives of major foreign enterprises to gauge their outlook for the Chinese economy, their operations in China and their business plans for 2023.

Q1 Given the backdrop of a feared global economic recession, threats to global supply chains and the deep impact of the COVID-19 pandemic, what's your outlook for China's economy and your company's operations in China in 2023?

CRAPS: China's economy has shown strong resilience and vitality with a recovery trend stronger than market expectations despite challenges and difficulties. We are very optimistic about the future of China, and we see great potential in the Chinese market because we believe in continued high-quality growth in China. As a leading brewer, we have made solid progress in China despite the complex environment in 2022. In the first half of last year, our revenue grew 2.7 percent. We'll continue the growth momentum driven mainly by premiumization, digitalization and expansion, which will be further boosted by favorable government measures.

WU: Despite the challenges and uncertainties, we believe China's economy will further recover and grow in 2023. Meanwhile, we remain confident in the development of China's cross-border logistics sector thanks to the Chinese government's rollout of favorable policies and measures to stabilize and promote foreign trade. This year, we will continue to invest to strengthen our logistics infrastructure in China and launch intercontinental cargo routes and add flights to further improve our logistics network resilience and service capability. In January, our DHL Wuxi gateway was put into operation and the DHL Shenzhen gateway is also under expansion, as well as other new facilities in the pipeline. All aim to provide faster possible transit times and easier access to international markets for local businesses.

MOHAN: COVID-19 has indeed brought uncertainties and challenges to the world's economy and the business operations of various organizations. However, with China's outstanding capability in controlling the spread of the pandemic and stabilizing economic and social development, we are very confident that 2023 will be a year of accelerating growth with booming opportunities. China continues to be a key region of strategic significance for LIXIL globally, as well as an important engine to achieve sustainable growth. It is expected to become one of LIXIL's largest markets in the next decade. With our strategy and a strong commitment to China, we are confident that we will achieve our goals and deliver on our corporate purpose of making better homes a reality for everyone, everywhere.

HAMAGUCHI: With China's continued efforts to boost its economy and expand high-level opening-up, I believe that China will see more vitality in its economy in 2023, which will also make contributions to global economic recovery despite headwinds. With regard to the pharmaceutical industry, China presents us with great market potential with tremendous unmet medical needs for high-quality innovative solutions, particularly in our areas of focus — oncology, innovative drugs and therapies.

WAN: Aveva remains confident in the Chinese market and growth potential in 2023, as the country has been committed to high-standard opening-up and high-quality development. From the Belt and Road Initiative to the signing of the RCEP trade pact, China is actively pursuing a mutually beneficial strategy of economic development. Digital innovation remains at the core of China's modernization drive. As an industrial software company operating in China for nearly 30 years, Aveva has witnessed the great achievements made by China's industries in digital transformation. We will continue to work closely with our ecosystem in China to inspire industrial innovation and ingenuity.

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