British conglomerate expresses confidence in China's long-term growth

By Global Business

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01:48

British conglomerate Swire Group, which has a large presence in Asia, including property and beverage businesses, is confident that China will overcome the "short-term challenges" caused by the COVID-19 epidemic and will continue its strong growth, said Merlin Swire, chairman of the company's Hong Kong-based branch.

The deadly coronavirus that first broke out in central China in December has developed into a major crisis disrupting not only people's normal life but also many businesses. As the growth of new infections has stabilized in the last few days, the country has been struggling to resume its business operations in a bid to maintain people's livelihoods and the economy.

"Despite these short-term challenges, I am sure that China will continue its strong long-term growth and remain the engine of the Swire Group's growth," Swire said.

Swire Group is a 200-year-old British conglomerate with deep ties with Asia. It owns airline companies like Cathy Pacific and Cathy Dragon, and runs a joint business with Coco-Cola.

"My family has been doing business in China under the Taikoo name for over 150 years," Swire said.

He reaffirmed that the company is deeply committed to China and will stand "shoulder to shoulder" with Chinese people to fight the battle.

"Since the outbreak of the virus, we at Swire have been watching with great admiration the calmness and self-sacrifice of the Chinese people in response to this most worrying crisis," the chairman said.

Besides 10-million-yuan (about 1.4 million U.S. dollars) donation to support the purchase of medical supplies, its Coca-Cola beverage business has donated over nine million bottles of water to hospitals and medical staff working on the front lines.

"Whilst our airlines Cathay Pacific and Cathay Dragon have supported the transport of much needed surgical masks and other daily necessities to cities across China. We are keen to help in any way that we can," he added.

Meanwhile, the chairman says that Swire's businesses in China have resumed operations "in order to support the continued normal functioning of society." The company will continue to provide a safe workplace and support its 37,000 employees in China, he said.

"The Chinese government and its people have adopted the most rigorous preventive and control measures to combat the virus," he told CGTN. "I have full confidence that under the able leadership of the central government and with the support of tens of thousands of hardworking and brave medical professionals and volunteers, China will overcome this challenge."