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Voices of the world: How will world economy benefit from strong Chinese consumption?

(Xinhua)    11:20, March 07, 2014
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BEIJING, March 7 -- China's strong consumption is a boon for world economic growth, especially at a time when the shadow of the financial crisis still lingers.

People from all walks of life in various countries shared their experiences and opinions on the "Chinese consumption" with Xinhua reporters during what's known as China's "two sessions" - the annual sessions of the country's top legislature and political advisory body.

They believe that strong Chinese consumption can help start the process of global economic rebalancing by promoting industrial transition and upgrading, and have a positive impact on employment and growth worldwide.

The highlights of the interviews are as follows.

DIALOGUE 1

Xinhua: What does the Chinese market mean for local employment and people's livelihood? What impact does it have on your life?

Karl Ye, Managing Director at GMP Pharmaceuticals, New Zealand, said that his company used to focus on the East Asia market, on countries such as Japan and South Korea, but now China has become their VIP customer and some of the company's products are developed and made especially for Chinese people.

"For me, China means opportunities and future," Ye said, explaining that his company provides premium health products for Chinese people, and that they hold the key to the company's survival and growth.

Sandra Liu, Marketing Program Manager at Fortescue Metals Group, Australia, said her company has a huge Chinese customer base. "You can imagine what Chinese consumption means for me as ninety percent of our company's iron ore will be transported to China."

"In fact," said Liu. "The Chinese are not only consumers but also investors."

Liu said that over the last decade, China's demand for iron ore brought many employment opportunities, promoted local infrastructure construction and stimulated the development of many other industries such as consultation and financial services.

DIALOGUE 2

Xinhua: Are you well prepared to make the most of the "Chinese dividends" as more and more Chinese travelers are heading overseas? In what way can you benefit more from the Chinese tourists?

Gary Crokett, President of the Accommodation Association of Australia, shared his views with Xinhua at a hotel in Beijing.

"If this hotel could provide guests with bread and cheese and English-speaking attendants, then foreign hotels could also offer Chinese food like fried dough sticks and soybean milk and services in Chinese."

Crokett said it is a shame the service standard in some countries still fell short of the demand of Chinese visitors. "It is important for Chinese visitors to 'do as the Romans do' at other countries, but to do business you have to respect and care for your customers first."

Crokett thinks it is necessary for overseas businesses to get some systematic training of the diet and living habit of Chinese tourists, and adjust their business strategy to it. They could also enhance their cooperation with Chinese tourism to share the dividends, suggested Crokett.

In fact the Chinese have already started their investment in overseas tourism, which might lead to the restructuring of the tourism industry in some countries, said Crokett.

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(Editor:SunZhao、Gao Yinan)

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