China's consumption growth continues to show resilience, with millions of new restaurants opening last year, underscoring robust demand in the domestic catering sector, said Zhang Yichen, a member of the 14th National Committee of the Chinese People's Political Consultative Conference (CPPCC).
Zhang, who is CEO of CITIC Capital and chairs the master franchise of McDonald's China, told China Global Television Network (CGTN) that 3.5 million new restaurants opened across the country last year, including about 1,000 new McDonald's outlets annually.
At this year's "two sessions," Zhang urged policymakers to introduce measures that would encourage dine-in consumption, linking the restaurant boom to broader efforts to sustain domestic demand.
"This is the amazing resilience of the Chinese economy and Chinese enterprises overall. It's that you have another 3.5 million restaurants, new restaurants, opened," he said.
Zhang believes the key challenge now is reviving in-person dining and shopping to sustain long-term consumption growth.
"In the short term we're actually gaining from that. But in the long run, I believe overall the industry will suffer and the economy will suffer. That's why I brought up the issue and I'm so glad that the government is clearly agreeing with my views. The fact that we're (McDonald's China) opening 1000 restaurants a year and the fact that there are new restaurants still doing very well, it's a clear indication there is consumption power, you just have to find them," he said.
The "two sessions" are the annual meetings of China's supreme organ of state power, the National People's Congress (NPC), and the top political advisory body, the CPPCC. Both bodies serve five-year terms and hold a plenary session each year.
The fourth session of the 14th NPC and the fourth session of the 14th National Committee of the CPPCC opened in Beijing on March 5 and March 4, respectively.
Zhang’s remarks underscore both the resilience of China's consumer market and the need for policies to secure sustained demand, a key focus of this year’s "two sessions."
CPPCC member seeks measures to boost dine-in consumption as China's demand stays resilient
Chinese Foreign Minister Wang Yi said on Tuesday that the key to preventing further escalation of the situation regarding Iran lies in the United States and Israel halting their military operations, adding that China does not approve of attacks on Gulf countries and condemns all attacks on civil facilities and innocent civilians.
Wang, also a member of the Political Bureau of the Communist Party of China Central Committee, made the remarks in a phone conversation with Pakistani Deputy Prime Minister and Foreign Minister Mohammad Ishaq Dar.
Dar briefed Wang on Pakistan's position on the current situation in Iran and called on all parties to exercise restraint and resolve the current crisis through peaceful negotiations.
Pakistan commends China's efforts to de-escalate the situation and is willing to enhance coordination and cooperation with China through platforms including the United Nations (UN) to jointly seek effective ways to achieve peace, Dar said.
For his part, Wang said that China and Pakistan, as all-weather strategic cooperative partners, have a fine tradition of communicating and coordinating on major international and regional issues.
Both sides had promptly stated their firm positions on the situation in Iran, demonstrating a responsible attitude and compliance with the purposes and principles of the UN Charter, Wang said, adding that the war against Iran lacks legitimacy and legality, and prolonging it will only bring more senseless casualties.
China appreciates Pakistan's mediation efforts, and is willing to maintain close multilateral and bilateral coordination and cooperation with Pakistan, support its continued constructive role and jointly promote an early restoration of peace and stability in the region, said Wang.
The two sides also discussed recent border clashes between Pakistan and Afghanistan. Wang noted that China's special envoy on Afghan affairs is actively shuttling between the two countries to promote dialogue and reconciliation, and stressed that the urgent task is to prevent further escalation and return to negotiations as soon as possible.
China firmly supports Pakistan's fight against terrorism and hopes that Pakistan will continue to take all possible measures to ensure the safety of Chinese personnel, projects and institutions in the country, Wang added.
Dar thanked China for its mediation efforts, stressing that Pakistan attaches great importance to and will fully ensure the safety of Chinese personnel and institutions.
U.S., Israel halting military operations key to preventing escalation: Chinese FM
