Gillian Tans CEO of Booking.com
A1China is undergoing structural reform to pursue quality and sustainable growth. Even with moderate economic growth, China contributed more than 30 percent of global growth last year. This year, China has set a growth target of about 6.5 percent amid global economic uncertainty, which should continue to stabilize the world economy and give confidence to the markets. Chinese consumer spending continues to rise, with a growing desire for diverse and quality technologydriven travel services.
A2China has long been an important international market for Booking.com, and it is playing a key role in our global business strategy for continued growth. Since entering China in 2010, we have experienced fast growth by bridging Chinese consumers and accommodations with the world. Last year, China’s outbound market posted strong growth, with more than 120 million Chinese traveling overseas. We are optimistic about recent efforts to open-up and ease the tax burden on multinationals to create a fair and favourable trading environment. This allows companies to continue to invest with confidence in technology, people and service upgrades.
A3The Belt and Road Initiative is driving regional connectivity at an unprecedented scale through infrastructure development. Intraregional travel will grow and cross-Asia travel will be more attractive to global tourists as transportation barriers are taken down. As an online travel platform connecting people with their ideal places to stay, we are wellpositioned to capture this round of travel trend and help build a strong regional travel market. With more than 1.1 million diverse accommodations resources, Booking.com is continually looking to make accommodations more accessible throughout Asia. Our 24/7 service in 43 languages will also make communication easier for travelers in the region.
A4Supply-side reform is driving a profound change by urging all businesses and companies to improve competitiveness and develop in line with the market and consumer demand. Our philosophy is to focus on innovations to meet and exceed consumers’ needs for high-quality products and services. This defines our market strategy in line with China’s developing needs, driven by the reforms. Behind every product and service we offer in the China market, we innovate, experiment and improve to capture the mobilized tendency.
A5China’s innovation drive is turning consumers into supporters of innovation. Indulged by customized new products and services, Chinese consumers are now seeking and valuing innovative ideas and the companies behind them, presenting great opportunities for technology companies. We’re excited to see the Chinese consumer market becoming one in which innovation and pioneering new technologies can drive business success. Our continuous efforts to innovate and customize products are a response to the demand for innovation, and they have contributed to our business success in China.