Economic Reforms Help Foreign Firms Better Develop

A report from chinadaily.com.cn on Aug. 14th, 2024:

The latest data from the General Administration of Customs shows that the trade volume of China’s cross-border e-commerce reached 1.22 trillion yuan ($170 billion) in the first half of 2024, up 10.5 percent year-on-year.

China’s deepening economic reforms and faster pace of innovation will create a more vibrant market for foreign companies to grow in the country, said a top executive of a leading global consumer information company.

Tracey Massey, chief operating officer of NielsenIQ, said that China is one of the company’s most important strategic markets globally, and “in China, for China” has been the company’s unchanging strategy since it entered into the Chinese market 40 years ago.

“China’s commitment to high-quality development will provide more opportunities for the companies in the country. The Chinese path to modernization means a higher level of openness, more competitive innovation, a more dynamic market and more sustainable development,” Massey said.

“As the economy grows and reforms take hold, consumer behavior will continue to evolve. Meanwhile, economic reforms will also create a more vibrant market for consumer goods and services,” she added.

Massey said the company has witnessed firsthand how the Chinese economy has grown, how policies have improved consumer confidence, and how China has opened up to markets.

“And we continue to see those changes coming,” she said. “The country’s advancements in e-commerce and digital innovation are not only benefiting local markets, but also providing valuable insights for global clients.”

“We believe it will bring us more opportunities for investment and cooperation as well as growth potential,” she added.