CGTN BOSS TALK | Experian bets on China’s further opening up
During the Two Sessions, Experian was exclusively interviewed by CGTN BOSS TALK and shared our views on hot topics such as the new Foreign Investment Law and China’s economic outlook in the post-epidemic period.
Leading international information service provider Experian believes that China’s new Foreign Investment Law will not only benefit the country’s long-term economic development, also will boost foreign companies’ willingness to invest continuously in China, said Huang Jian, Managing Director of Experian Greater China.
The UK-listed company is confident that China’s economy will see a rebound in the second half of 2020, and the company also quickly adjusted its business strategy in light of the pandemic, launching initiatives to help small to medium companies to help the country’s economy recover quickly.
In an interview with CGTN, Huang shared his views on some populists’ anti-globalisation talk and his outlook on China’s economy in 2020. Huang also calls for countries to work together to fight the pandemic—like many crises we have experienced before, it requires solidarity.
CGTN: What’s your take on China’s new Foreign Investment Law?
Huang: In recent years, China has further opened its financial sector and released a series of policies to support foreign companies, improving business environment and delivering a strong positive signal. It will attract more foreign companies like Experian.
We believe the new Foreign Investment Law has highlighted that we foreign companies will be treated the same as the Chinese state-owned companies and private companies. More importantly, we know that intellectual property will receive more attention and protection, which are very critical to us.
The launch of the Foreign Investment Law will provide us with the legal guarantee and some beneficial conveniences to our core business like commercial credit services, decisioning & analytics and identification fraud management solutions. We will continue to invest in China in the coming years, and we will work together with the Chinese government, our partners, our suppliers, to continue to grow the market together.
CGTN: Any room for improvement regarding the current new Foreign Investment Law?
Huang: Considering the execution time for the Foreign Investment Law is not that long, it’s about five months ago, we have not felt any fundamental changes so far. However, to some extent, this law will protect foreign companies to equally compete in the domestic market with the private owned companies, public-listed companies in China and the state-owned companies. It will not only benefit the long-term development for China’s economy, but also provide foreign businesses like Experian with the flexibilities, opportunities and possibilities to invest continuously.
As for the room for improvement, I think according to our recent observations, the Foreign Investment Law can do more optimisations to ensure the actual implementation, such as to further clarify some of the rules and its execution.
CGTN: Is your company still confident on China’s economy in light of the coronavirus pandemic?
Huang: Everyone knows it has impact on China’s economy. However, we have the confidence. Under the leadership of the Chinese government, we will all win this together. We believe in the second half, the economy will recover quickly and our suppliers, our partners, our customers, we’re all working together to make sure we recover quickly and smoothly.
We will also adjust our strategy accordingly, especially to help the small to medium companies recover quickly. I think that’s the government’s priority and it’s also our priority moving forward in a short term.
Over the last 40 years, the world has witnessed the miracle of China. China has grown its business in all sectors. And more importantly, more Chinese companies are going internationally to expand its business footprint. Experian has our mature technologies and solutions. We believe we can help Chinese companies locally and internationally.
CGTN: Some believe that globalisation as we know it will be over after COVID-19, and supply chains will be restructured, what’s Experian’s take on this?
Huang: No. I don’t think the globalisation will be terminated. COVID-19 is just like the crises we’ve experienced like climate change and 2008 financial crisis, it requires all countries to work more closely together. Only if we work together closely, we can beat the COVID-19 quickly and smoothly. We’re committed to continuously investing in China and growing our business. And we’re confident in the China market. It will bring us the opportunities and we’re also committed we will continue to bring our global resources and experience to help our partners and customers to grow together in the China market.
China Global Television Network, or CGTN, is an international media organisation launched on December 31, 2016. It is the international division of CCTV, which – along with CNR and CRI – will collectively be known as the China Media Group.
As a multi-language and multi-platform media organisation, CGTN operates in television and online. It also incorporates a video news agency CCTV+. CGTN’s six TV channels are available in more than 170 countries and regions worldwide.
CGTN, a pioneer of media convergence in China, also delivers content through digital platforms. CGTN Digital is accessible via CGTN.com, CGTN mobile applications, YouTube, Facebook, Twitter, Weibo and other social media platforms, with over 150 million followers across the globe.
The CGTN media convergence center endeavors to create a world-leading news content brand, integrating various media assets, technologies and management resources. From multimedia journalism to news cloud sharing, from tailored production to multiple delivery channels, it’s designed to maximise the efficiency of content production.
About BOSS TALK
Boss Talk is a business show founded by CGTN in March 2019 that airs across all channels of CGTN, traditional TV channel and new media platforms all included. All channels and new media platforms combined; the show can reach over 100 million of CGTN’s viewers. Boss Talk focuses on conducting exclusive interviews with domestic and international business leaders to decipher China’s economy based on global business leaders’ insights. Since founded, Boss Talk has already interviewed over 40 business leaders from the global top 500 and China top 500 companies, such as Lego, Airbus, and Rockwell. The average views of one episode are around 70,000 times.
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