City Party secretary Chen talks consumption upgrade with Kering CEO

Ti Gong

Chen Jining, Party secretary of Shanghai, met Fran?ois-Henri Pinault, chairman of the board and chief executive officer of Kering, in Shanghai on Wednesday for talks on consumption upgrade and cultural exchanges.

Kering, a French-based multinational corporation specializing in luxury goods, boasts a slew of world-renowned brands like Balenciaga, Bottega Veneta, Gucci, Alexander McQueen and Yves Saint Laurent.

During the conference, Chen introduced the basics of Shanghai's economic and social conditions to the French delegation.

"The 20th National Congress of the Communist Party of China pointed to us the Chinese path to modernization. We're fulfilling President Xi Jinping's vision of Shanghai, to build the city into a world influential socialist modern metropolis as well as to improve the livelihoods of our people," Chen said.

"Kering's vision to meet consumers' aspiration toward a better life agrees with Shanghai's goal of building itself into a global consumption center. We hope the two sides will launch deeper cooperation in consumption upgrade," he added.

Chen welcomed Kering to increase its investment in Shanghai, while sharpening its edges in research and development and management in the city.

"We also encourage cultural exchanges between youths from China and France, and learn from each other in aspects like innovation, fashion design and low carbon operation.

"Shanghai will create a more market-oriented, legalized and internationalized business environment for the company to develop."

Pinault introduced Kering's global vision and its development status and future plans in Shanghai, saying the company has strong confidence in the Chinese and Shanghai markets.

It will increase investment in Shanghai following its sustainable development concept and through digitalized transformation measures.

Kering will hold more global cultural and fashion exchange events in Shanghai, while better using the China International Import Expo for launching new products, technologies and services, to contribute to Shanghai's rise as a global consumption center, Pinault added.