Thai's CP Group backs Shanghai as an investment destination
Super Brand Mall, considered a pioneer in the development of one-stop shopping experiences on the Chinese mainland, has remained one of Shanghai's trendiest venues throughout the last two decades.
The mall, in Shanghai's famous Lujiazui in the Pudong New Area, is owned by Thailand's Chia Tai Group, commonly known as Charoen Pokphand Group or CP Group – Thailand's most well-known international conglomerate with interests ranging from agriculture, food, telecommunications, finance, to automobiles, pharmacies and manufacturing.
Shanghai has been a vital link on CP Group's global business map since it started investment in China in 1979 after China opened its doors to foreign investors.
At a meeting of the International Business Leaders' Advisory Council for the Mayor of Shanghai (IBLAC), Dhanin Chearavanont, senior chairman of CP Group, once said that "Shanghai is a place that investors can't miss if they come to China."
In Shanghai, CP Group opened its first supermarket CP Lotus in the Pudong New Area in 1997, and Super Brand Mall in 2002. Aside from retailing, the group formed a joint venture with SAIC in 1985 and established SAIC Motor-CP Co Ltd, which has an annual production capacity of 100,000 units. The corporation has been exploring options for exporting the MG brand to Southeast Asia as part of the Belt and Road Initiative.
Soopakij Chearavanont, chairman of CP Group, received the Shanghai Magnolia Gold Award in 2008 and is an IBALC member.
On various occasions, Soopakij has confirmed CP Group's commitment to the Chinese market.
"CP Group will continue to increase its investment in China, provide better and more economic goods and services for Chinese consumers, and make new contributions to China's social and economic development," he said.
Michael Ross, senior vice chairman of CP Group who is leading the Chinese team, said he will keep innovating on new business models and make Super Brand Mall a vanguard at the bank of Shanghai's iconic Huangpu River.
With a strong presence in Shanghai, CP Group exemplifies how Thai investors may expand alongside with the Chinese market.
Last month, a delegation from the Thai Consulate-General in Shanghai paid a visit to the Shanghai Federation of Industry and Commerce, seeking additional cooperation opportunities in the context of the Belt and Road Initiative and the Regional Comprehensive Economic Partnership (RCEP).
The move is a strong response to President Xi Jinping's call made during his November trip to Thailand to attend the APEC Economic Leaders' Meeting, in which he said that China and Thailand should seek greater synergy between their development strategies and jointly advance high-quality cooperation to achieve new results.