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Business / Economy

Executives survey the prospects for China's future prosperity

(China Daily) Updated: 2016-03-16 09:54

Executives survey the prospects for China's future prosperity

Doug Gurr, President, Amazon China. [Photo provided to China Daily]

A1: China has the largest middle-class population in the world, which has massive consumption power and strong demand for high-quality products. With such a huge market and unmatched consumption power, which I believe will be further stimulated by supply-side structural reform, I am optimistic about China's economy. The GDP growth range set by the government is still an amazing rate.

A2: Cross-border e-commerce is booming globally, but especially in China, and represents the most dynamic driving force of China's e-commerce development. It will maintain its booming momentum in 2016. Meanwhile, among the heated discussions in this year's two sessions, the reform of the supply side has become a core subject. My observation is that supply-side structural reform will also inject new power and energy into China's economy, stimulate the consumption engine and boost sustainable development.

A3: China's huge middle class has strong demand for high-quality products. We launched Amazon Global Store in 2014, which provided Chinese customers with millions of high-quality international selections. Our data indicate that Chinese customers have shown tremendous enthusiasm. During the 2016 Spring Festival, the number of orders Chinese customers placed on Amazon Global Store was eight times that in 2015.

With such a huge market and unmatched consumer power, which I believe will be further stimulated by supply-side reform, I am optimistic about China's economy. Tasked with providing Chinese customers with authentic, high-quality products and convenient experience, Amazon China will continue to play a positive role in response to China's supply-side reform, and carry on our cross-border e-commerce strategy.

Meanwhile, we help bring international brands to the Chinese market, which in turn cultivates the purchasing behavior of Chinese customers and stimulates their demand for high-quality and authentic international products. This forms mature and healthy consumption patterns and drives domestic demand, which benefits the development of China's economy.

International brands also provide references for Chinese brands, which are learning how to build up their own brands and expand overseas. Those Chinese brands have won recognition from overseas customers and created tremendous value for the Chinese economy, prompting the building of global brands, which will further elevate the reputation of Chinese brands in the transition from "Made in China" to "Brand from China".

A4: We are encouraged by the government's measures.

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