by Martina Fuchs
GENEVA, Oct. 29 (Xinhua) -- Nestle, one of the world's largest food and beverage companies, will continue to actively invest in the Chinese market despite challenges brought by the COVID-19 pandemic, and hopes that the China International Import Expo (CIIE) starting next week could "drive a new tide of consumption".
"CIIE signals that China is further opening up its domestic market... It shows China's determination to drive a new tide of consumption," Bernie Stefan, Nestle's vice president for the Regional Management Zone Asia, Oceania, and Africa, told Xinhua in an interview.
The CIIE is a trade fair held annually since 2018 and will take place for the third time in Shanghai in early November. It serves as a platform for foreign companies to expand their business into China and aims to support trade liberalization and economic globalization.
China is Nestle's second-largest market in the world, where it operates 28 factories, four innovation centers, three R&D centers and employs more than 36,000 staff, according to the company.
"Despite the significant challenges brought about by the COVID-19 pandemic, the Chinese economy has shown a high degree of resilience and has been leading the global economic recovery," Stefan said.