On June 24, the "China Investment Dialogue" event was launched in Beijing, co-hosted by China Media Group (CMG) and the China Council for the Promotion of International Trade (CCPIT). Attendants included Shen Haixiong, vice minister of the Publicity Department of the Communist Party of China (CPC) Central Committee and president of CMG, Ren Hongbin, chairman of CCPIT, Xin Guobin, vice minister of Industry and Information Technology, Ling Ji, vice minister of Commerce and Deputy China International Trade Representative, Zhao Zenglian, deputy chief of the General Administration of Customs, Pu Chun, vice minister of the State Administration for Market Regulation and director of the National Certification and Accreditation Administration, and Steven Barnett, International Monetary Fund's Senior Resident Representative for China, and others. Representatives of a dozen international organizations and directors of nearly 50 multinational enterprises attended the event. The event aimed to build a communication platform between multinational enterprises, the Chinese government, international organizations and Chinese domestic enterprises and the media, and together witness the stories of foreign-funded enterprises taking root and growing in China. Saravoot Yoovidhya, Vice President of Thai Chamber of Commerce in China and CEO of TCP Group, the founding company of Red Bull, was invited to attend the event.

“China Investment Dialogue” Launched in Beijing

China Investment Dialogue: Deepening Exchanges, Sharing Policies, and Building a Bridge of Confidence for Foreign-funded Enterprises' Investments

At the event, representatives from the Ministry of Industry and Information Technology (MIIT), the Ministry of Commerce (MOFCOM), the General Administration of Customs (GAC), and the State Administration for Market Regulation (SAMR) released authoritative information from their respective departments, affirming their commitment to unwaveringly expand high-level opening-up and create better conditions for the development of enterprises from all countries in China. The MIIT stated that it will fully implement policies for high-level opening-up, pushing for the comprehensive removal of foreign investment access restrictions in the manufacturing sector and strongly supporting the growth of multinational enterprises in China. MOFCOM expressed its intention to continue building the "Invest in China" brand, further liberalizing foreign investment access, reasonably reducing the negative list for foreign investment access, increasing the catalog of industries encouraged for foreign investment, and further expanding the space for foreign investment. The SAMR pledged to continuously optimize the market environment for foreign investment, comprehensively enhance the level of intellectual property law enforcement protection, strengthen full-chain protection of intellectual property rights, and gradually promote the improvement of unified basic rules for market supervision such as registration management and fair competition.

Saravoot Yoovidhya, Vice President of Thai Chamber of Commerce in China and CEO of TCP Group, was Invited to Attend the Event

Speaking about his experience and feelings to the event, Yoovidhya said, "This 'China Investment Dialogue' has undoubtedly established an efficient two-way communication bridge, enabling us to stay instantly informed about the latest policy developments in China's efforts to optimize its business environment. Moreover, this event provided an opportunity for direct dialogue between businesses and government officials, which clearly demonstrates China's commitment as a vital component of the global open economy to support the growth and development of foreign-funded enterprises. It has given us a deeper understanding of China's investment climate and policy direction, charting a clear course for the development of our operations in China."

As the Vice President of Thai Chamber of Commerce in China, Yoovidhya stated that China's proactive measures to encourage foreign investment will further bolster the confidence of the Thai business community, inspiring more Thai enterprises to explore new opportunities in the Chinese market, thus further promoting commercial exchanges between China and Thailand. As a representative of the Thai company investing in China, TCP Group will continuously deepen its roots in the Chinese market. Through its Red Bull operations in China, the company aims to invigorate Sino-Thai economic and trade exchanges, injecting additional momentum into the upcoming 50th anniversary of the establishment of diplomatic relations between China and Thailand next year.

Seize New Opportunities in China's Market Development and Deepen Roots in China with Investment

As the world's second largest economy, China serves not only as the "world factory" but also as the "global market", playing a crucial role as a stabilizer and powerhouse of global economic development. Yoovidhya noted, "In recent years, China’s development has transitioned into a stage of high-quality growth, serving as a key driver of global economic expansion. We can explore more opportunities in the market."

Red Bull Brand has Entered the Chinese Market for over Thirty Years

For TCP Group, China is also the most significant overseas investment market for TCP Group. Since establishing the first Red Bull factory in Hainan in 1993, the group has been committed to deepening its roots in this vibrant land. Over the past two years, the group has invested in total about 3.3 billion RMB, setting up two Red Bull factories in Sichuan and Guangxi provinces respectively. In July 2023, construction officially began on the TCP Group Red Bull Beverage (Guangxi) Production Base, with a total investment of around 1.3 billion RMB. Given its location at the crossroads connecting the Chinese and ASEAN markets, the investment in Guangxi marks a new chapter in the group's commercial map in China. In December 2023, the TCP Group Red Bull Beverage (Sichuan) Production Base, with a total investment of 2 billion RMB, was put into production. The project covers a total area of about 400 mu, boasting an annual production capacity of 1.44 billion cans. The initial two production lines are dedicated to producing the classic gold can product, Red Bull® Vitamin Flavored Drink. The western region of China, with its extensive trade cooperation prospects with Thailand and the ASEAN, is a key strategic market for TCP Group in China. The Sichuan factory primarily serves the western region of China, representing one of the significant steps taken by the group to expand its production in China and meet the diverse needs of Chinese consumers.

TCP Group Red Bull Beverage (Sichuan) Production Base

Today, the facts that China keeps improving the business environment and promoting fair competition as well as the service-oriented measures, lay a robust foundation for TCP Group's endeavors in the Chinese market. Yoovidhya remarked, "I’m encouraged by the efforts from the China government, are taking to create a more friendly and stable business environment. This undoubtedly strengthens our determination to root ourselves ‘In China, For China' through sustained long-term investment in the country. As a brand that has been deeply engaged in the Chinese market for over three decades, we will continue to deepen our investment here. Through concrete actions, we aim to play the crucial role in the supply chain and drive the development of upstream and downstream partners, fostering an environment that benefits the entire industry." Looking ahead, TCP Group remains steadfastly to carry out it long-term investment plans in China.

TCP Group Red Bull Beverage (Guangxi) Production Base

New-Quality Productive Forces Drive High-Quality Development, Embarking on a New Chapter of In-Depth Engagement in China

In discussing the company's future road map for China, Yoovidhya mentioned that "New-quality Productive Forces" has become a particular hot topic this year, opening new horizons for businesses and bring new vitality to the food and beverage industry. TCP Group firmly holds the belief that enhancing technological innovation, digital and intelligent upgrades, and sustainability across the entire F&B industrial chain is crucial for achieving high-quality development. This will not only contribute to the high-quality development of China's economy but also set a global benchmark in the food and beverage sector.

Saravoot Yoovidhya, Vice President of Thai Chamber of Commerce in China and CEO of TCP Group, was Interviewed by CCTV.

Yoovidhya believes that: " China's market is developing with fast speed but also with high quality, which is unique in the world. This opens up a broader horizon of opportunities in the Chinese market for us, particularly those emerging from the advent of 'New-quality Productive Forces. TCP Group is actively embracing this trend, and integrating digital technologies from production to sales to enhance efficiency and ensure sustainability. For example, we will embed more advanced technologies like all those artificial intelligence to make sure that our operation is more effective in the future.”

This year marks the 31^st anniversary of the Red Bull brand's entry into the Chinese market. TCP Group has witnessed the rapid growth of the Chinese market and is committed to further deepening its presence and growth in China. At this pivotal juncture, TCP Group looks forward to embarking on the next thirty-year chapter in the Chinese market, continuing to be driven by innovation, committed to quality, and aiming for sustainable development. Together with the Chinese market, we anticipate ushering in an even more prosperous future.