STORY: Business professional optimistic about China's innovation-led economy
SHOOTING TIME: March 26, 2024
DATELINE: March 29, 2024
LENGTH: 00:01:42
LOCATION: BOAO, China
CATEGORY: ECONOMY

SHOTLIST:
1. various of Boao Forum
2. SOUNDBITE 1 (English): BEN SIMPFENDORFER, Partner of Oliver Wyman, Asia Pacific Head of Oliver Wyman Forum
3. various of general views in China
4. SOUNDBITE 2 (English): BEN SIMPFENDORFER, Partner of Oliver Wyman, Asia Pacific Head of Oliver Wyman Forum

STORYLINE:

Ben Simpfendorfer, a partner at leading international management consulting firm Oliver Wyman has said the long-term prospects of China's economy are very exciting as the country moves towards innovation-led growth.

Simpfendorfer made the remarks at the Boao Forum for Asia Annual Conference 2024 in China's Hainan Province. 

SOUNDBITE 1 (English): BEN SIMPFENDORFER, Partner of Oliver Wyman, Asia Pacific Head of Oliver Wyman Forum
"China's long-term prospects are very exciting. The country has a 40-year track record of success in terms of reforming and developing its economy.
It's moving beyond exports and real estate and towards domestic consumption, as well as innovation-led growth. That's very exciting."

Simpfendorfer noted that China's focus on innovation-led growth will not only enhance its own development but also foster global innovation.

SOUNDBITE 2 (English): BEN SIMPFENDORFER, Partner of Oliver Wyman, Asia Pacific Head of Oliver Wyman Forum
"China is already a global innovation hub across a range of products. And that focus on quality growth rather than just quantity growth will be very important to laying the foundations for the country's long-term success, but also the growth of its exports to the rest of the world. And its innovative successes, particularly in the clean tech sector, will be very important to tackling some of the biggest challenges of our time.
China matters to the global economy. It is a source of global growth. It is a source of global innovation. That isn't about to change. We need to remain very collaborative. We need to find or develop bridges between China and the rest of the world to ensure that that exchange of innovation continues."

Xinhua News Agency correspondents reporting from Boao, China.
(XHTV)