The 7th China International Import Expo will be held in Shanghai from November 5th to 10th. On November 6th, Xu Min, Chairman and CEO of Procter&Gamble Greater China, delivered a speech. Xu Min stated that Procter&Gamble will embrace the original intention of serving Chinese consumers, use digital and intelligent technology as the "propeller", continuously improve the quality of innovation, lead category growth, and create value for Chinese consumers, industries, and markets.
Xu Min stated that as an important platform for continuously releasing the dividends of China's opening up, building exchanges, cooperation, and mutual benefit with the world, Procter&Gamble always feels the "new opportunities" of the Chinese market here, including: Chinese consumers' higher pursuit of beauty, health, and high-quality life; The industry scale in which Procter&Gamble operates will surpass trillions in the near future, from today's 700 billion; The new opportunity means that Procter&Gamble has long-term confidence and strategic determination in the Chinese market.
Xu Min said that in the face of new opportunities, Procter&Gamble proposed a new strategy of "leading category growth" two years ago, aiming to put consumers at the center and tap into the potential of category development. By comprehensively upgrading the five core advantages of each category and strategic brand, including product, packaging, brand communication, retail experience, customer and consumer value, Procter&Gamble not only drives its own business development, but also works with retailers and upstream and downstream partners to achieve win-win and value creation, leading the growth of categories and markets, and thus driving the development of China's consumer goods industry.
Xu Min introduced that this year, the theme of Procter&Gamble's exhibition is "Innovation for the Future, Original Aspiration for Consumers", which will comprehensively showcase Procter&Gamble's achievements in improving innovation quality in the three major fields of products, technology, and sustainability. "Procter&Gamble has been rooted in China for 36 years, adopting a localized innovation strategy, combining global deep technological reserves and resources with insights into consumers, providing high-quality innovative products for Chinese consumers, and coordinating with global innovation.
At the same time, Procter&Gamble actively embraces digital and intelligent technological means, constantly accelerating the quality improvement of innovation. Xu Min stated that in the field of research and development, Procter&Gamble utilizes big and small data to more accurately explore potential demand in emerging subcategories, improving innovation success rates while significantly reducing product development cycles from the previous 18 to 24 months to within 6 months, greatly accelerating the speed of product iteration. For the first time at this CIIE, Procter&Gamble has established an "Intelligent Instrument Exhibition Area" to showcase how intelligent technology empowers us to enhance innovation quality from consumer testing, product design and production to quality control.
Xu Min stated that as early as 1956, Procter&Gamble had already released its first environmental safety report. Since 2008, Procter&Gamble has set its long-term sustainable development goals as phased goals every ten years, and completed its "Mission 2020" in 2020. Currently, it is steadily advancing towards its "Mission 2030" and latest "Net Zero 2040" goals by actively implementing measures at the levels of itself, consumers, and the industry, striving to achieve operational carbon neutrality by 2030 and net zero greenhouse gas emissions from production to sales by 2040. This year, we will also continue to use the platform of the CIIE to release Procter&Gamble's practices and achievements in the field of sustainable development