China: AB InBev sees promising future in China

After optimizing its COVID-19 response, China's unleashed growth potential has made it an unrivalled magnet for global business leaders. The unwavering confidence of the world's second-largest economy in its future prospects has resulted in droves of visitors, Xinhua reported on February 25.

Among the trendsetters is Michel Doukeris, chief executive of the world's largest brewer Anheuser-Busch InBev, who met Wang Wentao, China's Commerce Minister, on February 24.

Speaking to Xinhua, Michel said China's booming consumption is a great business confidence booster for the world.

Noting that China has the largest beer market and beer industry in the world, Doukeris rejoiced at seeing the country's economy and consumption recovering from the impact of COVID-19.

"At the country level, consumption is rebounding very fast and we see this in the number of restaurants and bars that are open, as well as the consumption turnover in the supermarkets and key accounts that we serve," he said.

The senior executive described China's booming consumption as "a big engine of economic development," and expressed his confidence in the company's reaching for a more promising future in the Chinese market.

"We need strong consumption and economy to have a good business, and we are optimistic about what is happening in China," Doukeris said.

He remarked that China is fully committed to development and growth, and its quality growth is extremely important for the company.

China boasts a fast-growing, premium and innovation-oriented market, which attracts global players like AB InBev to continuously expand investment, he said.

"We always use the Chinese market as a source of inspiration and learning for other markets and operations that we have globally, and it is definitely an important market for our growth as a company globally," he said.

With long-term, large-scale investments of over 30 billion yuan (about 4.35 billion U.S. dollars) since 1984, the brewer optimized its value chain in China and made great progress in the construction of new breweries, facilities and warehouses, as well as establishing localized teams and talent.

"China's economy is thriving, its communities are growing, and people are enjoying more consumption; our business needs to catch up," said the chief executive, brimming with confidence. "We need to continue to invest."

Thanks to China's growing economy and burgeoning market, the beer giant sees its products getting more and more distribution and being present in more regions of China, he added.

"We have operations across the entire country, with a very open environment to invest and to develop our business," he said, impressed by China's sound business environment.

Moreover, Doukeris highlighted the company's policies on sustainability and carbon neutrality, which are contributing to China's green development.

In China, the company built its first carbon-neutral brewery and its best globally in terms of water consumption, he said.

"We continue to invest, in accordance with the directives of the countries where we operate, in our own goals in sustainability, to become an even better company each and every day," said Doukeris.

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