Growth Plan for Business in Mainland China
Planning:
Chow Tai Fok:
Looking ahead, they are confident that in 2013, they can achieve sustainable growth for their business in Mainland China, Hong Kong and Macau where they have spent decades building up their reputation. During the past 5 years, Mainland China has been amazing macroeconomic growth, and recently it has enjoyed a relatively more favorable macro-economic environment compared to the uncertain and complex macroeconomic conditions globally. Mainland China’s twelfth five-year plan, unveiled in 2011, will continue to reinforce domestic consumption as a strategic focus. Expanding domestic demand is expected to be a pillar of economic growth for the next five years as it is playing an increasingly important role in economic growth in Mainland China. Rising income levels and improving living standards amidst rapid urbanization of the middle class, as well as favorable policies including tax reforms, all contribute to stimulation of domestic consumption. Continuous growth in the retail revenue of jewellery in Mainland China is the realization of a trend in which Mainland China may surpass other large jewellery consuming countries. However, its consumption per capita is less than that of the world average and less than one tenth of that in the United States, which implies huge potential. Against the current macro environment backdrop in Mainland China and a successful implementation of our strategies as outlined below, we aim to double our revenue in three years’ time.
Lok Fok:
Looking ahead, Year 2012 is a challenging year as the global economic conditions are now becoming more and more complex and volatile due to the debt deterioration crisis in Euro zone. This Year is also an Election Year of major economic giants, which may add uncertainty to the global economic outlook. However, the Group believes that China economy will still has a stable and healthy growth with stimulation on consumption and construction.
The
Chow Tai Fok:
Looking ahead, they are confident that in 2013, they can achieve sustainable growth for their business in Mainland China, Hong Kong and Macau where they have spent decades building up their reputation. During the past 5 years, Mainland China has been amazing macroeconomic growth, and recently it has enjoyed a relatively more favorable macro-economic environment compared to the uncertain and complex macroeconomic conditions globally. Mainland China’s twelfth five-year plan, unveiled in 2011, will continue to reinforce domestic consumption as a strategic focus. Expanding domestic demand is expected to be a pillar of economic growth for the next five years as it is playing an increasingly important role in economic growth in Mainland China. Rising income levels and improving living standards amidst rapid urbanization of the middle class, as well as favorable policies including tax reforms, all contribute to stimulation of domestic consumption. Continuous growth in the retail revenue of jewellery in Mainland China is the realization of a trend in which Mainland China may surpass other large jewellery consuming countries. However, its consumption per capita is less than that of the world average and less than one tenth of that in the United States, which implies huge potential. Against the current macro environment backdrop in Mainland China and a successful implementation of our strategies as outlined below, we aim to double our revenue in three years’ time.
Lok Fok:
Looking ahead, Year 2012 is a challenging year as the global economic conditions are now becoming more and more complex and volatile due to the debt deterioration crisis in Euro zone. This Year is also an Election Year of major economic giants, which may add uncertainty to the global economic outlook. However, the Group believes that China economy will still has a stable and healthy growth with stimulation on consumption and construction.
The