Nestlé CEO lauds China's pro-consumption plan as "best news" for consumer goods industry

Nestlé CEO Laurent Freixe praised China's new consumption-boosting action plan as "the best news for the consumer goods industry" and see China as "a prime location" for initating innovation. 

The plan was issued last week by the General Office of the Communist Party of China Central Committee and the General Office of the State Council, aiming to vigorously boost consumption, stimulate domestic demand across the board, and increase spending power by raising earnings and reducing financial burdens.

It is the latest effort by the world's second-largest economy to make domestic demand the main engine and anchor of economic growth.

During an exclusive interview with China Global Television Network (CGTN) on the sidelines of China Development Forum 2025, Freixe said China's consumption-boosting action plan presents a significant opportunity for the consumer goods industry, especially for Nestlé as a market leader. 

"I think it is great news for the industry. China is a huge consumer market and has a lot of potential supporting consumption. Certainly the best news for the consumer goods industry. We are the leaders in this industry. So we will take advantage of that great opportunity that the government package will be offering to our industry," said Freixe.

Nestlé, the Swiss food giant, has been present in China for nearly 40 years. China currently stands as Nestlé's second-largest market globally, generating over 40 billion yuan in annual revenue.

Since 2020, the company's new investment in the Chinese market has exceeded 2 billion yuan and it plans to further increase investment in pet food, coffee, and infant formula.

Freixe underscored China's dynamic consumer landscape and its openness to innovation.

"So exciting about China, the size of the consumer market, the fact that the consumer is very open to innovation, new flavors, new products. So that's exciting. But it's also demanding because we have to move at the pace of the Chinese consumer. We see China as a prime location for developing new products, new services and taking advantage end to end, from farm to fork, of AI technology," he said.

Nestlé CEO lauds China's pro-consumption plan as "best news" for consumer goods industry

Residents in Port-au-Prince, the capital of Haiti, are demanding that the government take action to combat the escalating gang violence.

The Caribbean country's security situation has deteriorated sharply in recent months, as escalating attacks against civilians are eroding the few areas that remain free from gang influence.

In February alone, the escalating violence in Port-au-Prince has forced nearly 60,000 people to flee their homes.

Currently, over 1 million people are displaced across Haiti -- a figure that has tripled in the past year.

Armed gangs are seizing control of more neighborhoods, raising fears that the capital could fall at any moment.

Half of the country's population is facing acute food shortages, and many displaced people have sought refuge in makeshift shelters, where access to food, water and medical care is severely limited.

Meanwhile, gang violence is intensifying, with kidnappings, extortion and killings plunging the country, especially the metropolitan area of Port-au-Prince, deeper into turmoil.

"We have nowhere to go. All of those sleeping at the gas station have nowhere to go. I just have one thing to say to the government: they have to do something for us," said Laurie Evanie Felix, a local vendor.

Inflation is soaring, basic services are collapsing, and food insecurity is worsening.

Amidst this turmoil, the rise in gang violence persists, even with the presence of UN-backed international forces led by Kenya.

As conditions worsen, millions are wondering when they will see any sustainable relief.

"Help! Government of my country! Help! We can't run anymore! Government of my country, do something," said Kettia Sylvain, another vendor.

Desperate Haitians urge gov't to take action amid escalating gang violence

Desperate Haitians urge gov't to take action amid escalating gang violence