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Don’t expect to see a slowdown in consumer activity in China, Blackmores CEO Christine Holgate says, as there’s no shortage of demand from the country’s rapidly growing middle class.
"Why would you restrict yourself when just up the road is [China]?"
Christine Holgate, Blackmores CEOSpeaking to BlueNotes on video, Holgate said the surging consumer populations right across the Asian region would continue power spending.
“China is going through a major transformation, from an industrial society to a consumer-led society,” she said. “With that will come a huge growth in the middle class.”
“[And] as the middle class grows they demand more things.”
Holgate said health, education and financial services were key demands from this consumer subset.
“I don’t see that slowing down and I really encourage Australian companies to take action now,” she said.
Holgate said she couldn’t understand why some Australian companies were investing more money in New Zealand than they are in some Asian nations.
“Why would you restrict yourself to less than 2 per cent of the world’s economy when just up the road is [China]?” she asked.
Watch the video above to find out more.
Anna Green is CEO at ANZ Laos
The views and opinions expressed in this communication are those of the author and may not necessarily state or reflect those of ANZ.
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