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Forbes China CEO: Promoting International Consumption in a Natural Way

By ZHAN CHENDENG ZHANGICHONGQING|Jul 24,2022

Chongqing-“International consumption is actually a very important mission, which is to promote Chinese culture to foreigners through a relaxed and comfortable consumption environment,” said Sherman Lee, Chairman and Chief Executive Officer (CEO) of Forbes China Group, during an exclusive interview on July 23. 

“I was a bit surprised when I came to Chongqing this time. It’s totally different from the last time I came to Chongqing almost 20 years ago,” he said and found that Chongqing already has a great ability to develop consumer industries. 

The 2022 Forbes China Urban Consumption Development Forum was held on July 23 in Chongqing during the Fourth Western China International Fair for Investment and Trade (WCIFIT). With the theme of “New Vitality of Consumption, New Dynamics of Cities,” elites from industries shared their insights on consumption and urban development, including international high-end consumer brands and enterprises from different urban conglomerations. 

Promoting local features and consumption ability

In the eyes of Sherman Lee, consumption is a natural way for people in different places to communicate with each other. “For example, when foreigners come to Chongqing, they will eat hot pot. They understand Bayu culture from this type of mass consumption,” he said.

Due to the international level of international consumption, he suggested that Chongqing could cooperate with foreign media to promote the city with its local features and consumption ability, especially in basic necessities. 

Forbes

Sherman Lee, Chairman and CEO of Forbes China Group, delivered a speech at the 2022 Forbes China Urban Consumption Development Forum on July 23. (Photo provided to iChongqing)

He said it was his first time attending the Fourth Western China International Fair for Investment and Trade (WCIFIT). He pointed out the development of western China as an important development strategy for the country, where Chongqing is a critical city in the west as the only municipality in southwest China. 

“The WCIFIT once again told the international community that the country adheres to open up to the world and conduct international cooperation,” he said. 

For Sherman Lee, developing international consumption is not only for Chongqing; other Chinese cities also have this mission. “The WCIFIT can make other cities in China pay attention to the west, come with Chongqing to work together,” he added. 

Forbes

Sherman Lee, Chairman and CEO of Forbes China Group accepted an exclusive interview on July 23. (iChongqing/ Chen Zhan)

Hoping to land in Chongqing

Sherman Lee has high expectations for the city. “We hope that Forbes China and Chongqing will find some cooperation in the international consumption sector, playing a role in Chongqing’s development of international consumption center,” he said. 

He also shared the development strategies of Forbes China in the last few years. “We will choose to locate local offices in different cities and work with the local government to develop different industries,” he said. 

He hoped that Forbes China would land in Chongqing shortly to conduct deep cooperation, boosting international consumption together. They have planned the industry development center related to international consumption, where both offer one-stop service to overseas companies and take local companies abroad.   

Raffles City Chongqing

Raffles City Chongqing is a symbol of cooperation between Singapore and Chongqing. (iChongqing file photo)

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