SINGAPORE, April 6 (Xinhua) -- China's initiatives will stimulate trade and investment in Asia, President and Group Chief Executive Officer (CEO) of CapitaLand Lim Ming Yan has told Xinhua.
Lim made the remarks in a written interview before departing for the Boao Forum for Asia, scheduled to be staged in China's southern Boao city from April 8 to April 11.
Over the past five years, China has rolled out initiatives like the Belt and Road, Asian Infrastructure Investment Bank and has increased its investment in the world's least developed countries including markets in Asia, Lim said, adding that these initiatives will stimulate trade and investment in the region.
As one of the first foreign developers in China 20 years ago, "we have seen first-hand the rapid social and economic transformation of the country" and are well-poised to contribute to and benefit from the economic growth of China and the region as a whole, Lim said.
In his opinion, China's opening up continues to attract foreign players inbound. While Chinese companies value tapping on CapitaLand's extensive global network to expand overseas, they have also helped international companies including the Singaporean retailers enter China through their malls.
Moreover, China stands as a leading force of innovation in Asia as it now pursues high-quality growth over high-speed growth. To ride on China's innovation-driven growth, CapitaLand has leveraged digital tools and partnered with leading disruptors to reach out to customers, embraced smart building technologies, and harnessed data to enhance shopper experiences at their malls, said the CEO.
To date, CapitaLand owns or manages 23 integrated developments in China, including eight Raffles City developments, seven of which are operational to provide one-stop live-work-play experiences. Raffles City Chongqing, CapitaLand's single largest investment in China, is on track to open next year.
Founded in 2000 and headquartered in Singapore, CapitaLand's business includes integrated developments, shopping malls, serviced residences and funds.