Multinational consumer plays keen on China
A1 Thanks to the great leadership of the Communist Party of China and the concerted efforts of all Chinese people, the country is vigorously implementing an innovation-driven strategy with technological innovation at the core, thus forming a new source of growth.
In combination with the international environment, China has proposed a dual-circulation development paradigm to promote rapid and stable economic growth. We are aware that the government has paid heavy attention to balanced regional development and people's well-being.
A2 Reform and opening-up is China's national policy, peaceful development is a long-term goal, and high-quality development is a new requirement. These three points work together and have great practical significance to the smooth operation of the Chinese economy.
Skechers China is full of confidence regarding business development in the Chinese footwear market. We believe that there will be a better business environment in China. The open market will drive us to invest more in China, and we will establish roots in China and serve the country. We firmly believe that within a sound domestic market environment, we will be able to achieve mutual benefit and win-win results in China and achieve greater success here.
A3 The demographic dividend in China brings business opportunities. Both youthful consumers and senior citizens increasingly enjoy growing spending power, and all demographics are willing to accept new things. With the improvement of people's living standards, consumer demand has surged, and the market has great potential.
The innovation of the business environment and stability of the Chinese market are really encouraging. We see a bright future. With the deepening of reform and opening-up, and the dual-circulation development paradigm, the economy of China will develop rapidly.
Moreover, there is a complete infrastructure and a comprehensive supply chain in China. For foreign companies, this is very attractive. China has promulgated and implemented a number of policies to encourage foreign investment in recent years, which has also greatly increased Skechers' confidence in increasing investment in China.
We are optimistic regarding the Chinese market. In the past two years, we have invested in the Taicang Logistics Center and the Dongguan Asia-Pacific R&D Center to provide better service in China. We will continue to introduce high-quality products in China, and offer a rich and diversified product line to meet the one-stop shopping needs of Chinese families.
A4 In China, a growing number of companies are committed to ESG(environmental, social and governance) efforts. Skechers links the development to ESG factors along with business operations and brand strategy to further development.
We will continue to invest in China, and bring a rich product line to Chinese consumers, focus on local infrastructure development and introduce comfortable experiences from our footwear technology.
A5 Further strengthening the legalization of foreign investment and promoting orderly commercial activities to protect foreign investors are both welcome developments. China has also shortened the negative list for foreign investment access, built pilot free trade zones and a free trade port. These steps will help build a more attractive business environment in the country.
