Franz Jung CEO and president of Porsche China
A1We have no comment about the government’s growth target, but considering the slow pace of recovery and the uncertainty in global business, this seems a reasonable target. It shows the potential for Porsche to grow our business in a consistent, sustainable and healthy macroeconomic environment.
A2China plays a strong role in our global business strategy. Last year, we delivered 65,246 units and China once again became our single-biggest market. There is still potential for us to grow here. We want to develop new and existing business models — such as financial services, the used car business, our parts business and after-sales formats. We have 96 Porsche Centers here, and an estimated 12 new centers will be opened next year, most of them in third- or fourth-tier cities. We will continue our investment in this strategic market by bringing new and innovative retail formats and customer-experience centers, and by further professionalizing our network.
A3China’s Belt and Road Initiative will significantly impact global economic development. This will offer a lot of opportunities, hopefully, a reduction in transportation costs. China can expect much more business. With increased economic growth and consumers with more purchasing power, we believe we will have more customers. We will benefit from the infrastructure — it is important to ensure easy connectivity and promote global growth.
A4China’s supply-side reform aims to balance supply and demand by encouraging innovation and new technology, and by improving quality and cost efficiency.
We constantly strive to improve our products to keep up with our customers’ evolving tastes. We embrace sustainability and innovation with new technologies. Our business strategy thrives on new technology and innovation. We will continue to focus on that.
A5China has emerged as a manufacturing powerhouse. It has seen tremendous growth, and along with that growth there is rising consumer sophistication. Having discerning and refined tastes, consumers’ preferences are shifting to the new, the innovative. China is heading in the right direction by aiming for manufacturing excellence, which comes with innovation and new technologies. I believe efforts to upgrade manufacturing capabilities and the innovation-driven campaign will provide the necessary stimulus for economic growth and promote healthy competition.