Execs optimistic about China's growth
A1: For companies seeking longer-term development in China, this is a very exciting signal. This represents a better business environment, better policies and system, and a broader market prospect. Of course, it also poses higher requirements and greater challenges for the development of companies.
For Michelin, these changes will only make us more determined to plant its roots more deeply in the Chinese market, take the path of high-quality development, and focus on a sustainable future in China, for China. We will take active part in and enjoy the new dual-circulation development paradigm.
A2: This year is the beginning of China's 14th Five-Year Plan period (2021-25). It will foster a new development paradigm with domestic circulation as the mainstay and domestic and international circulations reinforcing each other. Under this new paradigm we will endeavor to seize opportunities.
Chinese consumers will not easily be satisfied with only high-quality products and services, but will more concentrate on their life experiences. By innovating daily mobility Michelin can present consumers with a unique and joyful lifestyle.
Michelin has made considerable progress in China thanks to Chinese economic reform over the past few decades. The current development of the international circulation means that more open markets and business environment optimization adds more confidence to Michelin's future development. Michelin will also continue to bring more cutting-edge technologies and products to China, including interconnected smart solutions and hydrogen mobility.
A3: Pursing high quality growth in China requires more innovation, scientific-based and technology-focused approaches. After 132 years of continuous innovation, Michelin has deeply realized that innovation is the core element for companies and countries to stay ahead and achieve sustainable development. In the journey of promoting innovation and cooperation, Michelin hopes to become a " pioneer" and "advocate".
Since entering the Chinese market, Michelin has been committed to introducing the cutting-edge technologies and products into the Chinese market. We have established a tire research and development center in Shanghai more than 20 years ago, through which based on the characteristics of the Chinese market. By doing so, it not only enhances its own strength, but also continually provides support for the development of local partners and customers, and actively promotes the development of sustainable mobility in China.
We believe that innovation cannot only bring about its own progress, but also inject impetus into the development of the entire industry and society. Through a series of innovation incubation projects, Michelin China provides domestic start-ups with rich industry knowledge and skills, and promotes the realization of sustainable mobility innovation solutions.
A4: We found that China is opening its door wider to welcome foreign investment. Over the years, the open-up initiatives have been constantly updated and upgraded. The updated negative lists in China's FTZs is the best proof. China's openness and welcoming attitude allows foreign companies to come to invest more conveniently and confidently. This will enable companies, China, and the world to achieve a win-win situation.
The pandemic is not over, and the world economy strives to get back to normal. China, as the only major economy in the world that has achieved positive economic growth in 2020, will inject strong impetus into the global economic recovery by opening wider to the world in an all-round way.
As the Chinese market enters a high-quality development stage and market potential continues to be tapped, companies in China will get broader access to the market and new development opportunities. We will seize this opportunity to allow consumers to share a safer, smarter, greener and more joyful sustainable future.
A5:"All sustainable" is the strategic vision of the Michelin Group, and "Planet" is one of three key pillars. We strive to make the planet greener through continuous innovation globally and in China.
From sustainable materials to factory production, from the usage of tires to the recycling of end-of-life tires, the entire life cycle of tires is more environmentally friendly. In February, Michelin announced that it would achieve 100 percent sustainability of tire production materials in 2050, including the use of renewable, recyclable, and bio-sourced materials. This is not just our ambition but reflects in our action.
The Michelin Group has been committed to hydrogen mobility for more than 15 years, promoting this greener and low-carbon energy and accelerating its research and development. Michelin China is also promoting the implementation of related businesses.
We also promote sustainable concepts in the catering industry. In last November, the Michelin Guide Beijing 2021 unveiled the Michelin Green Star for the first time in China, which aims to highlight exemplary establishments at the forefront of a more sustainable approach to gastronomy.
