From left to right: Denis Depoux, global managing director of Roland Berger; Nancy Wang, country manager at LinkedIn China; Bernard Sim, general manager for China at Scoot; Martin Xu, general manager of Chinese Mainland, Commercial and Operations at Cathay Pacific. [Photo provided to chinadaily.com.cn]
Editor's Note: This year marks a critical milestone as China concludes its 14th Five-Year Plan. To help in assessing the success of the process, we have asked multinational executives to share with our readers their insights about their business achievements in the past few years and further expectations in the years to come.
Q1 What's your view on this year's two sessions? Do you expect any specific policy measures for further deepening reforms and expanding high-standard opening-up? What more should China do to create a more enabling business environment for foreign investors?
DEPOUX: China's economic resilience has been noteworthy, particularly given the global headwinds such as geopolitical tensions and inflationary pressures in the past few years. Yet, resilience is not enough — growth is also a crucial objective for the Chinese economy and society. In the two sessions, policies were established to find a new balance between resilience and growth.
We expect China will further address industrial modernization and technology-driven productivity, decarbonization and consumption. It will continue to reaffirm commitment to openness and predictability for foreign investment. By balancing self-reliance with openness, China can solidify its role as a stabilizing force in global supply chains and climate action, driving sustainable growth.
For foreign investors, predictability and confidence are key: clearer rules and regulations, further opening of market access, strengthened enforcement of intellectual property rights laws and regulations, and stronger incentives for research and development partnerships would attract and retain foreign investment and bridge global best practices with China's innovation ambitions.
WANG: The two sessions represent a pivotal moment for China's continued commitment to high-quality opening-up and reform. At LinkedIn, we're particularly attentive to policies that will shape the business landscape for both foreign enterprises operating in China and Chinese companies expanding globally.
LinkedIn has witnessed China's unwavering support for enterprises "going global". Since formally entering the Chinese mainland market in 2014, we've served as a bridge connecting Chinese businesses with international opportunities, helping them recruit overseas talent and develop global marketing strategies. This decade of experience gives us confidence in China's dedication to fostering a vibrant, internationally integrated business environment.
SIM: This year's two sessions hold great significance amid the rapidly evolving local and global landscape. This year is also the final year of the 14th Five-Year Plan period (2021-25), presenting opportunities for reviews and further enhancements.
As an airline connecting Chinese travelers to Singapore and beyond, we look forward to initiatives that will enable freer travel and push for the development of inbound and outbound tourism.
The year 2025 also marks the 35th anniversary of diplomatic relations between China and Singapore. As an "aerial bridge" between the two countries, we will continue to support and facilitate connections to boost tourism and the economy.
XU: At Cathay Pacific, we are closely aligned with China's 14th Five-Year Plan (2021-25), particularly the dual-circulation strategy and commitment to high-quality opening-up. The focus on enhancing Hong Kong's position as a world-class international aviation hub and the integration of the Guangdong-Hong Kong-Macao Greater Bay Area present significant opportunities for us. As visa processes are simplified, we see growing potential in international tourism and cross-border trade. Cathay believes that a more open and welcoming environment will drive economic growth and strengthen cultural ties between China and the world, allowing us to better connect people and goods globally.
Q2 "New quality productive forces" is widely seen as key to helping China achieve industrial upgrade and "high-quality development". How can your company help cultivate such forces in China?
DEPOUX: Roland Berger has been proud to be a bridge linking global expertise with China's aspirations for the past four decades, and it is a role we'll continue to play in the next chapter of China's growth. There are a few key drivers: we help our clients improve industrial and commercial efficiency and the quest for enhanced operational performance, in a context of margin volatility across all industries, and high pressure in consumption-driven businesses. We also help Chinese clients to globalize, to find new outlets for domestic production capacity and engage in the next phase of globalization. By blending global best practices with China's unique ecosystem, we enable clients to transform innovation into sustainable, high-value growth — turning "new quality productive forces "into competitive advantages, on a global scale.
WANG: The concept of "new quality productive forces" introduced at previous sessions particularly resonates with LinkedIn's observations of global labor market trends. We believe cultivating new quality productive forces requires empowering professionals with future-ready skills. Our data show that 70 percent of global job skills will change by 2030, with AI-related competencies becoming essential, particularly in emerging fields like artificial intelligence and digital technology. This aligns perfectly with China's focus on developing new productive capabilities through technological innovation and industrial upgrading, which in turn facilitates knowledge-based talent exchanges. To address this transformation, LinkedIn provides comprehensive solutions helping Chinese enterprises enhance their workforce capabilities and adapt to evolving skill demands. Our learning platform offers 24,000+ courses, including 600+AI modules, while generative AI-powered coaching enables personalized skill development. By connecting Chinese enterprises with global technical talent and providing data-driven insights on emerging skill requirements, we help bridge talent gaps and drive industrial upgrading through human capital empowerment aligned with China's innovation-driven growth strategy.
SIM: Technology is no longer just an enabler, it is also a competitive differentiator. As the airline industry continues to recover and evolve, leveraging cutting-edge innovations will be essential to enhance efficiency and customer satisfaction, and help future-proof our operations against industry challenges.
Innovation has been part of Scoot's DNA since its establishment in 2011. We continuously invest in digital enhancements and automation to drive greater service capabilities and efficiencies across all touchpoints.
We've adopted a completely localized mobile application specifically tailored to the Chinese market to provide a more user-friendly experience.
XU: Cathay Pacific is committed to supporting the goal of industrial upgrade by fostering innovation and sustainability in aviation. We utilize cutting-edge technologies to improve operational efficiency and enhance customer experience. Our commitment to sustainable development, including the use of sustainable aviation fuel and carbon reduction initiatives, directly supports China's dual-carbon goals. Moreover, by collaborating with Chinese mainland institutions and encouraging local talent to join the aviation industry, we foster global insight and sustainable growth, facilitating the country's industrial transformation.
Q3 DeepSeek has been a buzzword and surprised the world starting this year. AI technology has been deeply integrated with various industries around the world. What opportunities do you foresee for your business from AI technology? What's your view on China's ability to sustain innovation in breakthrough technologies in the coming years?
DEPOUX: In the past decade, we have seen Chinese companies leapfrogging globally in many industries. China has made rapid progress in the development of AI technology, becoming one of the global leaders, and the pace will further accelerate. AI will unlock massive opportunities for our business. We can help our clients harness AI with their operations, such as predictive supply chain optimization, autonomous manufacturing, and hyper-personalized customer engagement, ESG (environmental, social and governance) compliance and risk management. There is no doubt AI will continue to bring huge opportunities, yet the misuse of AI technology is also capable of creating serious worldwide risks and challenges. As one of the technology leaders, China should also take more responsibility to promote sustainable development of technology and tackle challenges for all human beings through global collaboration on governance.
WANG: As Chinese enterprises accelerate their global expansion, with overseas talent demand growing by 35 percent last year, the integration of AI technology presents unprecedented opportunities for workforce transformation. At LinkedIn, we're witnessing how AI can enhance talent acquisition and development while maintaining human-centric values.
LinkedIn is leveraging AI technology responsibly to help Chinese companies connect with global talent more efficiently. For instance, our Recruiter 2024 has improved candidate response rates by 44 percent and accelerated hiring processes by 11 percent. Our recently launched LinkedIn Hiring Assistant automates repetitive recruitment tasks, allowing recruiters to focus more on valuable activities like building relationships with candidates.
SIM: The airline industry is shifting from rigid customer service frameworks to more dynamic, personalized approaches enabled by AI. We are seeing a move toward predictive service models and seamless omnichannel experiences. The key challenge is balancing automation with human interaction.
Since July 2024, we have incorporated generative AI into MARVIE, our virtual chatbot, which enables it to address a wider range of complex queries. We are working to streamline the repetitive tasks done by customer service agents by further leveraging generative AI.
China's investment in technological innovation is impressive. The government's support, coupled with its vast market, provides a solid foundation for technological breakthroughs.
XU: China's focus on technological self-reliance and strategic emerging industries provides a robust foundation for innovation. As an international aviation service provider deeply rooted in China, Cathay is fully committed to embracing digital transformation through generative AI and various digital initiatives to enhance our services. These digital technologies improve customer experience and boost operational efficiency. With strong government support, a vast talent pool, and a large-scale market, China is fostering a powerful innovation ecosystem, and we are confident in China's continued leadership in AI and we believe the emerging technologies will enable us to remain at the forefront of the aviation industry.
Q4 Driving domestic consumption is one of the top priorities for China to spur economic growth this year. How do you see China's potential to drive a consumption-led impetus for the economy? How will that affect your company's profitability this year?
DEPOUX: There is still large, untapped potential in consumption. Despite China's rapid initial recovery from the COVID-19 pandemic, consumption and consumer confidence have remained fragile. Boosting consumption and making it a stable and sustainable contributor to China's economy are a long-term endeavor. It relies on the ongoing transformation of the economy.
The focus has to be shifted from volume to value by higher productivity to generate more disposable income, in turn, driving up confidence and mass market spending. Profitability is crucial for business and companies. There is no quick fix; policymakers and market participants must move past the old China narrative and embrace a new growth model. Restoring confidence and ensuring a social safety net are crucial to addressing long-term challenges. The government should focus on strengthening the social safety net by enhancing existing measures, such as promoting and regulating long-term savings through financial services, accelerating the development of public and private pension programs, and improving the density and quality of the healthcare system.
WANG: China's vast consumption potential offers robust momentum for economic growth. As consumption upgrades and digital transformation accelerate, Chinese enterprises are expanding globally through innovative products and localized strategies. At LinkedIn China, we've observed remarkable achievements from Chinese manufacturing, photovoltaics, and new energy enterprises in international markets. As Chinese enterprises expand internationally, LinkedIn is uniquely positioned to support their talent acquisition and brand-building efforts in overseas markets. By leveraging our global network of over 1.1 billion professionals and AI-powered solutions, we help Chinese companies cultivate culturally attuned local teams — a critical factor in winning consumer trust abroad.
SIM: Despite a challenging global economic landscape, the Chinese government's determination to boost domestic consumption is encouraging and instills confidence in foreign enterprises like Scoot that have been deeply rooted in the Chinese market for many years.
Since the introduction of visa-free travel for Chinese travelers to several Southeast Asian nations, we have observed a sizable increase in demand from Chinese travelers for more spontaneous, short-haul trips to the region. Meanwhile, China's visa facilitation policies for foreign visitors have attracted a growing number of international inbound travelers to explore the country's breathtaking natural landscapes.
XU: China's potential for consumption-led growth is immense, driven by the rapid expansion of its e-commerce sector and rising demand for travel. With the surge in both inbound and outbound travel, Cathay Pacific is well-positioned to meet the growing demand for passenger travel by offering premium experiences and a variety of options to meet the demand. Simultaneously, the growing demand and the changing market situation for cross-border e-commerce present significant opportunities for our logistics services. By offering efficient and professional solutions, Cathay is contributing to the development of China's digital economy. This evolving consumption pattern creates positive momentum, driving growth in both passenger travel and air cargo sectors for our business.
Q5 As China continues to pursue high-quality development along a Chinese path to modernization, what opportunities do you anticipate for your business as this process gains more traction? Will you increase investment in China in the coming years? How will you further expand your footprint in China?
DEPOUX: China is, and will remain, an important market for our company. Today, China is not only a manufacturing powerhouse, but also a global innovation powerhouse driving trends in digitalization, sustainability, and high-tech industries. We believe that as management consultants we have an important role to play in China's economic transformation and high-quality development. We will further adapt, localize and develop our offerings in China — blending our global expertise with China's agile innovation. We will continue to work with our Chinese clients and multinationals alike to tackle the opportunities and challenges around business models, value and supply chains, and technologies.
WANG: China's pursuit of high-quality development and modernization presents vast opportunities for LinkedIn to empower Chinese enterprises in global talent acquisition, international brand building, and AI-driven skill development. Over the past decade, LinkedIn has supported over 2,000 Chinese enterprises, with 76 percent of China's top 100 outbound companies deeply collaborating with us. We remain committed to increasing investment in China, leveraging our global network of 1.1 billion professionals and AI-powered solutions to address evolving labor market needs. China remains LinkedIn's fastest-growing market globally, and we're dedicated to supporting workforce upskilling and cross-border business connectivity through responsible, insights-driven innovation.
SIM: The continued push for both domestic and international tourism will boost the confidence of the aviation industry.
We maintain a flexible approach to our network in China, scaling up capacity in line with demand recovery while ensuring we are positioned to support the market's needs, while balancing the company's commercial strategy and operational excellence.
This year marks the 13th anniversary of Scoot's entry into the Chinese mainland market. We remain confident and committed to the Chinese market, and we look forward to enabling more connections for Chinese travelers to Singapore and the rest of the world.
XU: To reinforce our commitment to China's high-quality development, Cathay Pacific has announced an investment of over HK$100 billion ($12.87 billion) in the coming years, focusing on fleet modernization, network expansion, service enhancement, digital transformation and sustainability. With the unique positioning of "deep roots in Hong Kong, proudly part of China, connecting the world", Cathay Group plays a vital role in offering seamless flight connections for passengers from 19 cities in the Chinese mainland to around 100 destinations worldwide in 2025. Furthermore, by actively contributing to the Belt and Road Initiative, we will strengthen our presence in the Chinese mainland, and reinforce Hong Kong's critical role as a leading international aviation hub in terms of both passenger and cargo movements.
