STORY: PepsiCo Greater China CEO confident in long-term development of Chinese market
SHOOTING TIME: June 25, 2024
DATELINE: June 26, 2024
LENGTH: 00:03:22
LOCATION: DALIAN, China
CATEGORY: ECONOMY

SHOTLIST:
1. various of PepsiCo's plant
2. various of the Summer Davos
3. SOUNDBITE 1 (Chinese): ANNE TSE, CEO of PepsiCo Greater China Region and Chief Consumer Officer of PepsiCo APAC
4. various of China
5. SOUNDBITE 2 (Chinese): ANNE TSE, CEO of PepsiCo Greater China Region and Chief Consumer Officer of PepsiCo APAC
2. various of ground-breaking ceremony of PepsiCo's food production base in Xi'an
3. SOUNDBITE 3 (Chinese): ANNE TSE, CEO of PepsiCo Greater China Region and Chief Consumer Officer of PepsiCo APAC

STORYLINE:

CEO of PepsiCo Greater China and Chief Consumer Officer of PepsiCo APAC Anne Tse has expressed her company's commitment to the long-term development of the Chinese market.

In an interview with Xinhua during the 15th Annual Meeting of the New Champions, also known as the Summer Davos, Tse says China has become an increasingly important market for PepsiCo, which entered the Chinese market more than 40 years ago.

SOUNDBITE 1 (Chinese): ANNE TSE, CEO of PepsiCo Greater China Region and Chief Consumer Officer of PepsiCo APAC
"We were one of the first foreign enterprises to enter China and have been in the country for 43 years. Due to the immense size of the Chinese market, we have taken a long-term approach to our development. Over the past 40 years, we have continued to invest in the market, which is very important to us. We are pleased to see that the Chinese market has indeed become a significant growth engine for us within the entire PepsiCo system, and it is also a strategic market for us."

China's mega-market continuously unleashes new demands and growth vitality.

The country reported a faster-than-expected economic growth of 5.3 percent in the first quarter of this year.

From January to April, the number of newly established foreign-invested enterprises in China rose 19.2 percent year on year to 16,805.

The sheer size and potential buying power of Chinese consumers continue to be a major draw for global multinational companies, including PepsiCo.

Tse says that as the Chinese market and consumers change, they are ramping up their research and development efforts to stay abreast of market and consumer trends.

SOUNDBITE 2 (Chinese): ANNE TSE, CEO of PepsiCo Greater China Region and Chief Consumer Officer of PepsiCo APAC
"China is a very large single market with great potential. The per capita consumption of our products in China is still relatively low compared to some of the most developed markets, which means we still have room to grow. The large market itself provides us with significant opportunities. Additionally, the demand of consumers in this market is constantly changing and upgrading. We are collaborating with universities and research institutes to carry out research and development, which helps us to develop our products and find new opportunities in the market."

Earlier this month, PepsiCo broke ground on its first food production base in Xi'an, northwest China's Shaanxi Province.

With a projected total investment of 180 million U.S. dollars, the new facility is designed to meet international "net-zero emissions" standards.

SOUNDBITE 3 (Chinese): ANNE TSE, CEO of PepsiCo Greater China Region and Chief Consumer Officer of PepsiCo APAC
"Whenever we construct a new factory, we always integrate the latest technologies, as technology is constantly evolving. In Shaanxi, geothermal energy is available as a local energy source. Thus, we are actively researching how to utilize this green energy as our option, for it is specific to the region."

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