Local innovation crucial to meet local customer needs: Amazon

Elaine Chang, vice-president of Amazon and president of Amazon China. [Photo provided to China Daily]

Q. What do you think of China's economic growth target of about 6.5 percent this year, amid the sluggish global recovery? What business opportunities do you see coming from sectors that will be opened to wider foreign investment, such as services, manufacturing and mining?

A: We remain optimistic about China's economic prospects this year, and believe cross-border e-commerce will play an increasingly important role in the country's economic growth. The "importation" of international brands and products through cross-border, online shopping platforms greatly supports the Chinese government's supply-side reform, which is injecting new power and energy into the national economy. Meanwhile, Chinese manufacturers are trying to grow their businesses and build their brands globally through cross-border e-commerce platforms. All these are great opportunities, and we need to focus on customers' demands and drive local innovations to provide better support.

Q. How do you assess the role of the Chinese market in your global business strategy and layout? What are your views on China's efforts and extended preferential policies to further attract foreign investment? Do you plan to increase investment or expand your presence in the Chinese market this year?

A: China is one of our strategic markets and we are committed to growing our business here. We have invested to build a comprehensive presence in China, including cross-border e-commerce, Amazon reading, Amazon Logistics+ and Amazon Web Services. We will continue to innovate in response to the demands of local customers, sellers, developers and enterprises.

Q. What business opportunities do you expect to see as China promotes the Belt and Road Initiative? Have you participated in, or do you plan to participate in any projects linked with the initiative? How do you think infrastructure investment can contribute to global growth?

A: The Belt and Road Initiative has injected new energy into cross-border e-commerce. Guided by the initiative, an increasing number of quality Chinese enterprises are expanding their overseas businesses. Through Amazon Global Selling, tens of thousands of China-based sellers now can sell on overseas Amazon marketplaces in nine countries. In addition, Amazon's global logistics network across 185 countries and regions has helped to establish an effective "Online Silk Road" for Chinese enterprises "going out".

Q. This year, China will continue to implement supply-side reform. What does the reform mean for your business, and how will you adjust your business strategy in China to deal with it?

A: Last year, we launched several innovations tailored for Chinese customers, including Amazon Prime China, and expanded selection from Amazon UK to Amazon Global Store to better meet consumers' demands for cross-border online shopping.

Q. What is your opinion of China's efforts to upgrade its manufacturing capabilities and promote innovation? Will China's innovation-driven campaign spur the vitality and competitiveness of the economy?

A: China is encouraging innovation and the digital economy to spur economic growth and drive industrial upgrades and transformation. China doesn't lack the innovative spirit, and the examples from Chinese enterprises in Amazon Global Selling and Launchpad serve as strong evidence of that. Our mission in China is to innovate on behalf of customers' needs. For example, we launched Amazon Global Store and Amazon Prime China, which provides unlimited, free cross-border delivery. We hope our innovative spirit and how we innovate will help to elevate China's innovative environment.