E-commerce benefits China, international brands: business leaders

2019-11-06 09:22:18 source: CCTV Plus客户端

  

E-commerce will help promote consumption in China and also benefit international brands by allowing them to access the huge Chinese market, but rules are needed, said business leaders and experts at the ongoing second China International Import Expo (CIIE) in Shanghai. 


At the Hongqiao International Economic Forum Tuesday, an important part of the six-day CIIE, the guests agreed that with emerging business models driven by new technologies like cloud computing and big data, e-commerce will serve the interests of both China that is promoting opening-up and international brands eager to enter the Chinese market.


 "I think that e-commerce is the greatest revolution in commerce in several hundred years. And I think it's right at the right moment for China because China wants to develop consumption, China wants to open up its borders and e-commerce is the perfect thing to maximize this because e-commerce can help consumption, because it makes consumption easier for all Chinese consumers in the country," Jean-Paul Agon, Chairman and CEO of L'Oréal, said in an interview with China Central Television (CCTV) on the sidelines of the forum. 


"I think it interesting to see the rise of the platform model, particularly, and that the fact that the platform models in China, particularly are creating a great opportunity for international brands to actually access the China market, this huge growing consumer market in China. The platform would allow our businesses to access it in a way that they possibly never thought was possible. So I think that's really exciting, but also seeing, on those platforms, a lot of innovation, probably a lot of innovations that we may be not even seeing in some of the other platforms in the U.S. and other markets. So, I think there's an exciting opportunity for bringing international brands into China," John Meacock, Global Chief Strategy Officer for Deloitte, told the CCTV. 


Still, facilities need to be enhanced to promote e-commerce and rules are required for its sustainable healthy development, said Arancha González, executive director of the International Trade Centre (ITC). "We need to focus on fixing the ability of everybody, not just to buy but also to sell. Logistics, payment systems, quality infrastructure [are] extremely important. Thought number three, this new form of commerce requires global rules, just like commerce in the 20th century, just like analog commerce required rules, e-commerce requires rules," she said at the forum. 


The Hongqiao International Economic Forum is a parallel event of the six-day CIIE which kicked off earlier on Tuesday.  It has drawn a host of world-renowned dignitaries to discuss critical issues related to the global economy.

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E-commerce will help promote consumption in China and also benefit international brands by allowing them to access the huge Chinese market, but rules are needed, said business leaders and experts at the ongoing second China International Import Expo (CIIE) in Shanghai. 


At the Hongqiao International Economic Forum Tuesday, an important part of the six-day CIIE, the guests agreed that with emerging business models driven by new technologies like cloud computing and big data, e-commerce will serve the interests of both China that is promoting opening-up and international brands eager to enter the Chinese market.


 "I think that e-commerce is the greatest revolution in commerce in several hundred years. And I think it's right at the right moment for China because China wants to develop consumption, China wants to open up its borders and e-commerce is the perfect thing to maximize this because e-commerce can help consumption, because it makes consumption easier for all Chinese consumers in the country," Jean-Paul Agon, Chairman and CEO of L'Oréal, said in an interview with China Central Television (CCTV) on the sidelines of the forum. 


"I think it interesting to see the rise of the platform model, particularly, and that the fact that the platform models in China, particularly are creating a great opportunity for international brands to actually access the China market, this huge growing consumer market in China. The platform would allow our businesses to access it in a way that they possibly never thought was possible. So I think that's really exciting, but also seeing, on those platforms, a lot of innovation, probably a lot of innovations that we may be not even seeing in some of the other platforms in the U.S. and other markets. So, I think there's an exciting opportunity for bringing international brands into China," John Meacock, Global Chief Strategy Officer for Deloitte, told the CCTV. 


Still, facilities need to be enhanced to promote e-commerce and rules are required for its sustainable healthy development, said Arancha González, executive director of the International Trade Centre (ITC). "We need to focus on fixing the ability of everybody, not just to buy but also to sell. Logistics, payment systems, quality infrastructure [are] extremely important. Thought number three, this new form of commerce requires global rules, just like commerce in the 20th century, just like analog commerce required rules, e-commerce requires rules," she said at the forum. 


The Hongqiao International Economic Forum is a parallel event of the six-day CIIE which kicked off earlier on Tuesday.  It has drawn a host of world-renowned dignitaries to discuss critical issues related to the global economy.

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international;China;E-commerce;platform;rules