HIGHLIGHTS - Speakers at World Economic Forum in China
TIANJIN, China, Sept 13 |
TIANJIN, China, Sept 13 (Reuters) - Executives from the world's biggest companies have gathered in the Chinese port city of Tianjin this week for a meeting of the World Economic Forum. Here is what they were saying about the state of business and the global economy:
ZHU HONGJIE, EXECUTIVE VICE GOVERNOR, THE EXPORT-IMPORT BANK OF CHINA
"At this moment, the export sector is doing quite well; our business is also good."
"The prospects for the U.S economy are not very clear now. Initially we thought the US was already recovering but now the situation has changed -- it remains to be seen if there will be a definite recovery in the U.S. economy."
C.P. GURNANI, CHIEF EXECUTIVE OFFICER, MAHINDRA SATYAM (SATY.BO)
"I see 2010 as a year of recovery. Yes, the U.S. and Europe have gone through ... a speed breaker on the road but my belief is that the emerging economies are growing so strong, and none of the American companies today depend only on the domestic market -- 70 percent of their business comes from the emerging and fast-growing markets. So overall my belief is ... the recession is almost behind us."
MARTHA BEJAR, PRESIDENT GLOBAL SALES AND OPERATIONS, WIPRO (WIPR.BO)
"Our customers are spending a lot more time making decisions. They want to make sure they bring value to them. But we're not seeing any cancellations or delays."
ED CHAN, PRESIDENT, CEO, WAL-MART (WMT.N) CHINA
"Wal-Mart's business in China has been good. The country's many policies and the investment environment in the manufacturing industry are conducive to the retail market.
"We have stores in 103 Chinese cities, many of the stores are already in the second- and third-tier cities. Now, no matter it is the first-tier or second-, third-tier cities, there is a lot of opportunities for the development of the retail sector."
LIU RUIQI, CHAIRMAN, HENGYUANXIANG GROUP
Speaking about potential yuan appreciation: "It's all a game. There's been no effect on us. Everyone has already factored this into their business. For anything like this there will always be upsides and downsides." (Reporting by Doug Young, Kelvin Soh and Aipeng Soo; Editing by Muralikumar Anantharaman)
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