China Resources Group (“CR”) Chairman Wang Xiangming virtually attended the "China Development Forum 2021" from Shenzhen and addressed the forum with a keynote speech on "Release the New Consumption Potential" at the economic summit on 20 March 2021 morning. Themed "China’s New Journey of Modernization", the forum was hosted by the Development Research Center of the State Council in Diaoyutai State Guesthouse in Beijing in both online and offline formats during 20-22 March 2021.

In his keynote speech, Wang said in 2020, the economic condition and trade landscape were disrupted by COVID-19 pandemic, while domestic demand had become the ballast and decisive force for China’s economic development. However，the vast market space and strong consumption capacity of the country will provide unrivalled development opportunities for CR and other domestic and foreign companies. CR is a state-owned enterprise focusing on livelihood-related sectors. Looking ahead, it will focus on the increased consumption driven by four areas, namely, continuous urbanization, improvement of supply capacity, optimization of consumption structure, and new technology and business formats. It will work with different parties to promote the establishment of a long-term mechanism of expanding consumption and enhance innovation in technological research and development, in a view to provide more and better products and services to consumers in China and the world.

The meeting was hosted by Zhang Jun, Dean of the School of Economics of Fudan University. David Taylor, Chairman of the Board, President and CEO of P&G; Song Xiaowu, Director of the Academic Committee of the China Society of Economic Reform, Dean of the China Institute for Income Distribution of Beijing Normal University; and Daniel Zhang, founder of Wumart Group and Chairman of Dmall made their speeches and shared their views at the meeting.

Adhering to the objective of "Engaging with the World for Common Prosperity", the China Development Forum has defined a professional and high-level distinctive occasion. It is a significant communication platform for senior Chinese officials, global business leaders, international organizations, and Chinese and overseas scholars. Since its inception in 2000, the annual forum has been organized for 21 consecutive years.