Yang Baoyan, President of Coach China: The Chinese market has recovered more than expected

Beijing, May 5 (ZXS) -- Yang Baoyan, president of Coach China: The Chinese market has recovered beyond expectations

China News Agency reporter Liu Liang

Since the beginning of this year, China's economy has stabilized and improved, and market vitality has been continuously released, which has been favored by global investors.

Data show that in the first four months of this year, China's actual use of foreign funds reached nearly 5000 billion yuan, an increase of 2.2% year-on-year. According to a recent survey by the China Council for the Promotion of International Trade, more than ninety percent of the foreign companies surveyed said that China's position in their global investment decisions has not declined. These facts show that China's economic prospects are good, and the enthusiasm to attract global investment is not decreasing.

Against the background of weak global economic and trade growth potential, why does the Chinese market continue to gain "votes of confidence" from foreign capital? Recently, Yann Bozec, president of Tapestry Asia Pacific and president and CEO of COACH China, shared his view of the "magnetic force" of the Chinese market through the perspective of foreign enterprises in an exclusive interview with China News Agency.

The Chinese market recovered more than expected

With the steady turn of China's epidemic prevention and control, the economy and society have rapidly returned to the right track, and the operating income of Taipei Siqi Group in China has undergone gratifying changes.

According to the latest performance report of Tapex Group, in the third fiscal quarter of fiscal year 2023 (ended April 2023, 4), the Group's performance was strong and far exceeded expectations. "On constant currency terms, global operating income increased 1% year-over-year; The Chinese market recovered more than expected, increasing by about 9%. Yang Baoyan said.

As China's epidemic prevention and control enters a new stage, he said that since the beginning of this year, the customer flow and revenue momentum of the group's brand stores have increased significantly. "From the strong consumption momentum of the Spring Festival holiday to the May Day holiday just past, consumer enthusiasm is very high, fully demonstrating the resilience and vitality of the Chinese market."

Continue to expand investment in China

Since the beginning of this year, many senior executives of global foreign-funded enterprises have come to China to inspect and actively layout their business territory, and the global senior management of Tai Pei Siqi Group is also in the "inspection team".

According to Yang Baoyan, during the visit to China in April this year, Joanne Crevoiserat, CEO of Tapex Group, and some global management teams visited China, they were deeply impressed by the strong resilience of the Chinese economy, the vigorous vitality of the market and the enthusiasm of consumption.

"The Chinese market is a key market for the global business segment of the Group." He said that after more than 20 years of cultivation in the Chinese market, the Group has witnessed the continuous improvement of China's business environment, and after this high-level visit to China, it is more determined to further expand investment in China in the future.

According to him, the three major brands of Tapex Group have more than 90 stores in more than 380 cities in China. According to the Group's latest plan, the Group plans to add 2023 stores in China in 30 and 2025 stores by 100; Continue to expand the layout of first-tier to fourth-tier cities.

Optimistic about the growth prospects of the Chinese market

"Rooted in the Chinese market for more than 20 years, we have seen many remarkable achievements in China. The attractiveness and creativity of China's economy continue to increase, and the level of openness continues to improve, bringing new development opportunities and vitality to the development of foreign-funded enterprises in China. Yang Baoyan said.

He further emphasized that especially with the emergence of new consumption growth points in the Chinese consumer market, Chinese consumers with continuous upgrading of demand are becoming an important force driving the development and transformation of the global fashion industry.

Consumption is inseparable from the support of a good macroeconomic environment. This year, international institutions are optimistic about China's economic growth prospects. Yang Baoyan said that with the introduction of various policies to boost the economy and promote consumption, China's economy is accelerating its recovery, and consumer confidence and vitality are constantly improving.

"With the orderly implementation and advancement of a series of favorable policies to benefit enterprises, and the continuous injection of momentum into market development, we are full of confidence in our business growth prospects." Yang Baoyan said. (End)