SHKP Quarterly

as Shanghai IFC, Shanghai ICC and ITC, have established new standards in the market and further consolidated the Group’s leading position on the mainland. In Northern China, the latest general city plan for Beijing, which confirmed the capital as a centre of international exchanges and its new positioning as an ‘international rendezvous’, will also provide the Group with new investment opportunities. Continuous improvement, embracing change In view of the constantly evolving retail market and consumption patterns on the mainland in recent years, Albert said that the attitude towards market changes and challenges is crucial to the Group’s mainland retail business in providing a smart shopping experience leveraging innovative technology. “To stand out from the competition, it is essential to adapt to the ever-changing market environment and establish a foothold.” While many think that the rise of online shopping will have a negative impact on the physical retail industry, Albert views it in a positive light. He pointed out that consumers can benefit from the additional online shopping channel; and for the Group, it is a mere change of competitors, from other shopping malls to today’s online shopping platforms. Albert said he firmly believes that progress comes from competition: “From another angle, competition exists all the time. Instead of avoiding new competitors, we should act positively to face them, study how they operate and compete with them. The way to survive is to embrace the prevailing trend of technological innovation and find the position best suited to us. If you can’t beat it, join it, as the saying goes.” In an ongoing quest to explore new directions, the Group’s mainland malls continuously incorporate cutting-edge technologies with diverse marketing c amp a i gns to c reate t rend - s e t t ing , interactive leisure shopping experiences. During the coronavirus outbreak, the malls took full advantage of online platforms, offering customers a chance to interact with key online influencers while expanding the online sales channels. According to Albert, only by maintaining an open mind and embracing change can we advance with the times in this new consumption era. shopping malls, office buildings and hotels, is part of the service industry essential for consumption; second, our prime properties are held and operated on a long-term basis. This business development model complements the national policies by helping to stimulate consumption.” Albert emphasized that the Group takes into full consideration the national policies and development blueprint when making investment decisions. This allows the Group to plan future developments and leverage high-quality projects to boost regional retail consumption, promote economic development and create jobs. Although the mainland economy was slowed by the recent pandemic, Albert remains highly confident in the long-term prospects of the mainland property market. Valuing communication, achieving a win-win situation with an open mind A Hong Kong citizen working and living on the mainland for many years, Albert established his own family in Shanghai and has developed a deep connection with the mainland. On the issue of cultural differences, he said frankly that communication is the best solution. In a senior management role, Albert likes to talk with his colleagues and share his experience. He said he believes that communication is a core part of team building: “Communication helps bridge cultural differences and strengthen the relationship among colleagues,” he said. “It also enables us to deepen our understanding of the mainland market, policies and concepts with a more accurate analysis, and take our work forward.” In addition, he suggested that regular and close dialogue can ensure alignment with the team’s goals and concepts, which enhances the operating and execution efficiency of the company. He also mentioned that chatting with colleagues gave him opportunities to practise Putonghua and other local dialects and express himself more comfortably. A lb e r t s ai d he a l way s emb r a ce s new experiences and environments with an open mind. After years of working and living in the mainland, he realized that we should not try to tackle a problem or judge a city or region with a subjective, outsider’s perspective; we have to be ‘down to earth’, as people say in Putonghua, and accept one another. In a burgeoning market, a win-win situation can be achieved only by recognizing its progress, becoming part of its development and growing together. A quality brand established through Building Homes with Heart Regarding the Group’s strategy of establishing a unique brand character in the mainland market, Albert put it in a nutshell – Building Homes with Heart. This dedication to excellence is all the more valuable in a market where most players are seeking short-term profits and quick returns. According to Albert, the Building Homes with Heart philosophy nicely encapsulates the Group’s business philosophy and commitment to society. “In our meetings with the government, I interpret this philosophy as the Group’s longstanding belief that we do everything with the greatest sincerity and sense of responsibility,” he added. The principles of Building Homes with Heart, which include a good corporate conscience, the pursuit of quality and excellence, and the fulfilment of its commitment to its customers, are all applied to the Group’s products. Albert believes that the Group’s approach of holding and operating premium integrated projects over the long term will bring substantial benefits to society, as it continuously contributes to regional quality improvement, economic development and employment, as well as steady economic returns and tax revenue, thus helping to create a stable economic environment. Complementing national policies Albert also offered a clear, in-depth explanation of how the Group’s mainland investment strategy is intertwined with national policies: “Mainland China’s early extensive processing and manu f a c t u r ing i ndus t r y ha s b e en transformed into a high-tech, high-value-added industrial structure over the past 20 years, with innovative national policies and strategies providing new space for development. Only by identifying the changes in policies and the business environment can we seize the market opportunities that arise.” Amid the official measures to boost domestic consumption and retail spending in the mainland’s latest round of economic growth, Albert noted that the long-term, sustainable development of the Group’s large -scale commercial complexes falls exactly in line with both government guidance and market needs. Albert stressed that economic impetus can be maintained only by projects operated and enhanced over the long term. “Sustainable development is much needed in a fast-growing economy,” he explained. “Under the current environment and policies, the Group’s integrated developments have significant advantages. First, our main business, which comprises luxury 17