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China is more than a market for us. It is increasingly a major innovation hub. Partnership and innovation underpin our strategy of "In China for China" and "In China for the World".
China is now the world's second-largest catering market after the United States, with total revenue topping 4.2 trillion yuan (6.5 billion) last year.
China is forming a new development pattern known as "dual circulation," which takes the domestic market as the mainstay while allowing domestic and foreign markets to boost each other, and the new pattern will be conducive to keeping the country's current account generally within the reasonable range, Wang said.
China is about 10 percent of the group. We strongly believe there is a clear potential to double the market. Now, we have only been in China for 10 years. With double-digit growth each year, we are also planning double-digit growth for the five years to come. So, there's a huge potential in China if you know how to activate that market through digital retail experience. Product innovation, marketing localization, and omnichannel strategies will be the key for success. We're really excited about it.
China is a friend indeed in Africa's fight against diseases and disasters.