Foreign tourists visit Qianmen Street in Beijing on June 14. CHEN QIANG/FOR CHINA DAILY
With China's services economy continuing to expand, multinational companies are introducing innovative products and creating diverse consumption scenarios to tap into new growth opportunities, said business executives.
They said the country's evolving consumer market, rapid digital adoption and expanding trade in services are prompting companies to localize services, accelerate digital transformation and deepen long-term investment in the world's second-largest economy.
One such company is The Hong-kong and Shanghai Hotels Ltd. The Hong Kong Special Administrative Region-based operator of 12 Peninsula hotels worldwide sees the Chinese mainland as a long-term strategic market, supported by its vast consumer base, rising affluence and growing appeal as an international travel destination.
Julien Munoz, the group's chief commercial officer, said China's expanded visa-free policies, improved payment accessibility and a technology-enabled travel environment are helping accelerate inbound tourism.
