Representatives of several international enterprises operating in China said on Friday that they were encouraged by the just-concluded Central Economic Work Conference.
Held on Wednesday and Thursday, the conference set out China's clear path to boost economic development and won praise from business leaders who pledged greater investment in China.
Peddy Wang, head of corporate communication at the China branch of fashion giant Tapestry, expressed her company's excitement with signals from the conference that consumption will be further boosted next year.
"We're very excited about this meeting and its outcome, because we read the signals that the government really would like to hold the hands with our enterprises to boost the consumption. As a retailer in the fashion industry, we really want to embrace this confidence," Wang said, adding that Tapestry will continue to expand in China and double its market investment in the next three to five years.
Jiang Hao, a Shanghai-based partner at Roland Berger, a global consultancy, enumerated the highlights from this year's conference.
"Here are some of the key highlights I think I take away from the meeting is that first of all, a more proactive fiscal plan, moderately loosening monetary policy and also the strengthened unconventional counter-cyclical adjustment, and also expand domestic demand in all dimensions, and also stabilize the real estate and stock markets. Of course if you look at those policies, some of the wording haven't already been mentioned in the past, so I think it's a very strong signal to the marketplace," he said.
"I think that one of the main purposes of this meeting is to give everybody confidence, to give consumers more confidence to spend, give enterprises more confidence to invest, give local government more confidence for economic, and also give our global business partners, to show the determination that China will continue for the growth of economy," he added.
Kelvin Li, Managing Director for East China at Cushman and Wakefield, a leading global real estate services firm, said the conference sent positive signals for the real estate sector, which will benefit real estate companies, local governments and residents.
"As a foreign company, we are very happy to hear the good news. Because the meeting proposed stabilizing the property market and stock market, once again sending a positive signal to stabilize the real estate market. Since the beginning of this year, the government has introduced a number of policies to promote the stable development of the real estate market. The government's introduction of further policies to stabilize the property market in next year will not only help improve the financial situation of real estate companies and local governments, but also play a positive role in improving the wealth of residents, families, and restoring residents' consumption confidence," said Li.
Foreign companies encouraged by China's Central Economic Work Conference
