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Foreign execs bullish on 2023 business climate

China Daily Updated: 2023-03-02
From left to right: Eddy Chan, senior vice-president of FedEx Express and president of FedEx China; Liu Jie, president of Carestream Health Inc China;  Ye Fei, president and CEO of Michelin China; Willie Tan, CEO of Skechers China, South Korea and Southeast Asia; Xu Yang, president of Danfoss 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?

CHAN: China has the potential to be an active and leading force in the global economy and will play a more prominent role in driving global economic recovery and growth in the coming year as it has made significant efforts to address some regional challenges. China will be a key contributor to the global economy over the next decade, and it is an important market in FedEx's global strategy. FedEx has confidence in the country's potential and will continue to support the connectivity between China and the world by leveraging our network and capacity to empower global economic growth.

LIU: Against the backdrop of the global pandemic, China has made progress while ensuring stability and constantly stepping up to a new level, demonstrating the strong resilience and great vitality of its economy. The country has provided significant support for global industrial and supply chains, creating a stable and sound environment for growth for multinational corporations.

Carestream Health has witnessed the vigorous development of China's economy and has been involved in the development of China's healthcare industry for a long time. We have full confidence in China's future and healthcare undertakings. We will continue to increase our investment in healthcare innovation, support the Chinese path to modernization, promote the high-level development of the healthcare industry, and create a solid health foundation for common prosperity.

YE: In 2023, the world economy is still feeling the frost, but it is anticipated that the Chinese economy will turn around sooner, which will energize both regional and global recovery. China's economic and social vitality will be further liberated with the gradual recovery of domestic demand and the synergy of policy effects. In the Year of Rabbit, cities nationwide have seen a consumption surge as the factors limiting people's offline consumption were lessened. The robust resilience and enormous potential of China's consumer sector are demonstrated by the booming holiday economy. More significantly, consumer confidence has returned.

TAN: I am optimistic about Skechers' growth in 2023. Investing in China is investing in the future. With a population of over 1.4 billion, China has a large market size with room for expansion. China's economy has been growing resiliently and has a strong production capacity. With the economy's growth, the diversified and personalized consumer demand also makes us optimistic about the Chinese market.

I believe Skechers' ever-improving infrastructure investments will improve operational efficiency for our partners and bring a better experience to Chinese consumers.

XU: We maintain a positive outlook for China's economy and our businesses in China in 2023. As the second-biggest economy in the world, China needs green transformation for high-quality development, while Danfoss has proven solutions that are in perfect match to support China's green transition. One of the main drivers for our continued and strong growth is the strong momentum of green investment unleashed by China's pledge to reach its dual carbon goals.

With ongoing investment projects, we have robust growth aspirations for the China market and we have high hopes that our China business will continue to be a strong engine for our global growth.

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