Interview: China a market one cannot afford to miss, says CP Group China vice chairman

This photo taken on Nov. 3, 2023 shows the south square of the National Exhibition and Convention Center (Shanghai), the main venue for the 6th China International Import Expo (CIIE), in east China's Shanghai. (Xinhua/Liu Ying)

SHANGHAI, Nov. 8 (Xinhua) -- The Chinese consumer market has continued upgrading and expanding, presenting unlimited business opportunities for all companies, said James Ye, vice chairman of CP Group China.

"We're quite upbeat about the prospect of the Chinese market," Ye told Xinhua at the ongoing sixth China International Import Expo (CIIE).

The company was among the over 3,400 exhibitors to register for this year's CIIE, which attracted participants and guests from 154 countries, regions and international organizations, amounting to a full recovery to pre-pandemic levels.

Having participated in all six editions of the CIIE held thus far, the company has seen its sales rocket in the Chinese market over the past six years, with those of Thai products like durian, mangosteen, coconut and coconut water expanding by three to four times, Ye said.

The company's 500-square-meter booth, the largest at the expo's food and agricultural product exhibition area, was crowded with visitors eager to have a taste of Thai food.

"There are a lot more visitors at this year's expo, and we've been well-prepared," he said, adding that the company is showcasing nearly 500 products at this year's expo, compared with a bit more than 300 last year.

The company's parent group, Thai conglomerate CP Group, was among the first foreign companies to enter China after the country adopted its reform and opening up policy in the 1970s. Benefiting from the expansion of the Chinese market, it has established over 600 enterprises in the country, involving nearly 100,000 employees.

China has grown into CP Group's largest overseas market, accounting for more than one-third of its business revenue. The group remains committed to the Chinese market, despite the complex situation both at home and abroad that is putting the Chinese economy under pressure, according to Ye.

"For CP Group, China is a market we cannot afford to miss. We're quite sure that China has sufficient resources and capability to overcome these short-term economic challenges," he said.

"China's policies toward opening up are consistent and stable. The CIIE has been held for six consecutive years, and Belt and Road cooperation has proceeded for 10 years in a row," he said.

"With the country's comprehensive national strength growing and its economy further prospering, we believe China will only open wider to the outside world," he said.

Looking forward, Ye said the group plans to further tap into the country's agricultural and pasture food market, while extending its businesses to the downstream industry of food processing.

"For all companies, their businesses will thrive as long as they keep up with the pace of China's economic development and cater to Chinese consumers' needs for products and services," he said.