Leading the Tide: The 2024 Frost & Sullivan New Consumer and Food & Beverage Industry Investment Summit Forum Has Concluded Successfully

On August 30th, Frost & Sullivan's (Frost & Sullivan, abbreviated as: Frost & Sullivan) 18th Frost & Sullivan China Growth, Innovation and Leadership Summit & 3rd New Investment Conference (abbreviated as '2024 Frost & Sullivan New Investment Conference') - The New Consumer and Food & Beverage Industry Investment Summit was grandly held at the Shanghai Jing'an Ruiji Hotel.

Consumption is an important engine of economic growth. In 2023, China's final consumption expenditure drove economic growth by 4.3 percentage points, highlighting the fundamental role of consumption even more. 2024 has been designated as the 'Consumption Promotion Year' by the Ministry of Commerce. At this year's National Two Sessions, the 'Government Work Report' made arrangements for implementing an expansion of domestic demand strategy, promoting a virtuous cycle of the economy, and facilitating stable consumption growth. The term 'consumption' has been mentioned multiple times. The core trend of consumer recovery as an important engine for future economic development will not change. This means that the retail and consumer goods industries will embrace a new round of development opportunities.

The forum, themed 'Leading Innovation & Co-creating Trends', invited more than forty heavyweight guests and industry experts. It brought together a diverse group of forces including experts, industry leaders, innovative enterprises, investment institutions, and professional service providers from the new consumer industry, especially the food and beverage catering industry. Together, they discussed core topics of new consumption and the food and beverage catering industry, looked ahead to the diversified needs of consumers in the future, and explored new trends and driving forces for industrial innovation and development. The industrial investment summit forum successfully concluded on the afternoon of August 30th.

Mr. Wang Chenhui, Managing Partner and President of Frost & Sullivan Greater China, delivered a welcome speech at the New Consumption and Food & Beverage Investment Summit.Wang Chenhui stated that consumption is an important pillar of the national economy. It is not only related to the improvement of people's living standards but also an important driving force for the sustained and healthy development of the economy. Frost & Sullivan pays attention to multiple latest industry development trends such as category innovation in the mass consumer sector, brand globalization, the rise of national trendy brands and rejuvenation of domestic products, breakthroughs in emerging production technologies, healthy and green consumption trends, supply chain upgrading, and efficiency improvement. Therefore, they have specially organized the New Consumption and Food & Beverage Industry Investment Summit with the theme of 'Leading Innovation & Co-creating Trends'. Through keynote speeches, roundtable discussions, and the release of white papers, they will engage with participating guests to jointly explore the future development path of the new consumption field.Meanwhile, the New Consumer Brands Working Committee of the China Advertising Association, with Frost & Sullivan as the lead preparatory unit, has officially launched its preparations today. In the future, under the guidance and supervision of the China Advertising Association, the sub-committee will organize various forums, exhibitions, and other activities around the 'new consumer' sector, publish industry reports, and award honorary titles to outstanding enterprises in the industry..

Professor Wang Yu, President of the China Hepatitis Prevention and Control Foundation and former Director of the Chinese Center for Disease Control and Prevention, said,In recent years, China's total food consumption and per capita expenditure have been continuously increasing. People have moved from the initial stage of eating for filling their stomachs to a phase where they pursue more nutritious and healthy diets. At the same time, he shared the connection between diet and people's daily lives from a health perspective. Diet largely determines people's lifespan and health, and with the improvement of diet and medical standards, the number of long-lived individuals has gradually increased. From the perspective of disease prevention and control, research shows that eating well can reduce the occurrence of one-third of tumors, and certain daily foods can promote health and prevent diseases. Finally, Professor Wang Yu stated that China's dietary pattern is constantly changing in the process of economic development. It is hoped that this summit can lead the way in exploring new consumer trends in food and catering, achieve fruitful results, and promote the development of the country's healthy catering industry.

Mr. Guo Yujin, Executive Vice President of the China Chain Operation Association, stated that the contribution of food and beverage industries to the economy cannot be underestimated, and in the past two years, catering enterprises have demonstrated very strong market vitality.However, while developing, the challenges faced cannot be ignored. For example, some catering enterprises have experienced a phenomenon where they increase revenue without providing profits, and catering brands have faded into obscurity. When discussing how catering enterprises can break through challenges and develop healthily and orderly, Guo Yujin proposed that it is first necessary to return to the essence of the catering enterprise itself. The enterprise needs to focus on delicious, healthy, and distinctive cuisine, promote large-scale, standardized chain operations. In addition, he also mentioned that small formats have obvious advantages in terms of business innovation, such as snacks, fast food, beverages, bread, etc., and have a considerable number of stores. Moreover, Guo Yujin mentioned that against the backdrop of the country continuously introducing favorable policies to support the healthy development of catering enterprises, it is recommended that enterprises thoroughly understand and utilize the policy dividends to better empower enterprise growth. Finally, he proposed that enterprises need to return to their essence, to the most basic customer needs, and to do a good job in R&D, supply chain, organizational systems, etc., continuously unleashing the initiative of grassroots employees. He also suggested that enterprises attach importance to differentiation, pay attention to quality, and be able to create unique qualities belonging to their own brand.

Mr. Liu Xu, Vice President of the China National Association for Light Industry Investment and Development, stated,In recent years, the food industry has thoroughly implemented the decision-making arrangements of the Central Committee, adhered to the new development concept, and vigorously implemented the "Three Products" strategy. Generally speaking, the trend in the food and beverage industry is that the concentration of industry leaders is intensifying, and profit growth rates are slowing down. This year, enterprises have returned to the "essence of business" in their operational strategies, paying more attention to value and returns. The domestic consumer market has become more rational, with stratified development among consumer groups. Most consumers' expectations for products have shifted from "cost performance" to "quality-price ratio," leaving products that can provide emotional value with a certain profit margin. Consumption changes vary across regions; some offline cities have seen rapid development in formats such as chain discounts, catering chains, night markets, and scenic spots, leading to a slight upgrade in consumption. Additionally, from the research visits of over 50 enterprises, Liu Xu found four obvious changes in consumer-oriented businesses: refined category innovation, new channel expansion, supply chain improvement, and new paradigms for going global. Finally, he also mentioned that in the next step, the country will cultivate and strengthen new forms and models of consumption, enrich and expand consumption scenarios, expand the scope of inclusive policies, create a favorable industrial development environment, and promote the continuous improvement of the light industry economy.

At the summit site, the appointment ceremony for the Frost & Sullivan New Consumer Experts Committee was held in grand style.

Mr. Aroop Zutshi, Global Managing Partner and Executive Director of the Board at Frost & Sullivan; Dr. Wang Xin, Global Partner and Chairman of the Board at Frost & Sullivan; Mr. Wang Chenhui, Managing Partner and President of Frost & Sullivan Greater China; and Mr. Shivaji Das, Partner at Frost & Sullivan and Managing Director for Asia-Pacific, took the stage to present letters of appointment and crystal commemorative cups to the members of the Frost & Sullivan New Consumer Experts Committee.

List of New Consumer Experts of Frost & Sullivan

Chairperson of the New Consumption Committee

Mr. Yang Mingchao, Chairman of Potouquan and Chairman of Huading Cold Chain

Member of the New Consumption Special Committee

• Mr. Jiang Nanchun, Founder and Chairman of ZDM Media

• Mr. Liu Zhi, Founder and Chairman of Chengdu Dalongyi Catering Management Co., Ltd., and Founder of Yuanfang Yuntian Food Technology

• Mr. Yan Dongsheng, Founder and Chairman of Pei Ge

• Mr. Wang Cheng, Founder and Chairman of Xintian Hotpot Oil Plate

• Mr. Yang Yong, Founder and Chairman of Chongqing Yangji Yucheng Brand Management Co., Ltd.

• Mr. Wu Gang, Chief Producer of "Great Power Brands"

• Mr. Liang Jian, Deputy General Manager of Huatong Yunshang and CEO of Food Industry Headlines

• Dr. Fan Renda, Founding President of the Hong Kong Independent Non-executive Directors Association and Chairman of the Asia Independent Non-executive Directors Association

• Ms. Yang Sulan, Managing Director and Co-Chair of the Consumer Group at CICC's Investment Banking Department

• Mr. Zhang Zhiqiang, Partner of Beijing Jingtian Gongcheng Law Firm

• Mr. Li Zhiguang, Managing Partner of EY's Audit Services Market in Central China and Zhejiang Province

• Mr. Chen Weihao, Partner of Dazheng Capital

• Ms. Cheng Yan, a member of the Beijing Municipal Political Consultative Conference and the chairman of Boyu Capital Management Co., Ltd.

The opening ceremony of this 'Leading Innovation & Co-creating Trends' New Consumer and Food & Beverage Industry Investment Summit was attended by Mr. Aroop Zutshi, Global Managing Partner and Executive Director of Frost & Sullivan; Professor Wang Yu, President of the China Hepatitis Prevention and Control Foundation and former Director of the Chinese Center for Disease Control and Prevention; Mr. Guo Yujin, Vice President of the China Chain Operation Association; Dr. Wang Xin, Global Partner and Chairman of Frost & Sullivan; Mr. Jiangnan Chun, Founder and Chairman of Dianzhong Media; Mr. Yang Mingchao, Chairman of Gouquan and Chairman of Huading Cold Chain; Mr. Liu Xu, Vice President of the China Light Industry Enterprise Investment and Development Association; Mr. Wu Gang, Chief Producer of 'Great Brands'; Mr. Liu Zhi, Founder and Chairman of Chengdu Dalongyan Catering Management Co., Ltd. and Founder of Yuanfang Yuntian Food Technology; Mr. Zhang Zhiqiang, Partner of Beijing Jingtian Gongcheng Law Firm; Ms. Yang Sulan, Managing Partner of Investment Banking Consumer Group at CICC; Mr. Li Zhiguang, Partner of Zhejiang Province; Dr. Fan Renda, Founding President of the Hong Kong Independent Non-executive Directors Association and Chairman of the Asia Independent Non-executive Directors Association; Mr. Wang Chenhui, Managing Partner and President of Frost & Sullivan Greater China and Co-founder and President of LeadLeo; Mr. Shivaji Das, Partner of Frost & Sullivan and Managing Partner of Asia-Pacific Region, all took the stage together to press the button and light up the device for the summit, marking the official opening of the 2024 New Consumer and Food & Beverage Industry Investment Summit.

Mr. Jiangnan Chun, Founder and Chairman of FocusMedia, shared his keynote speech titled "Breaking Through Cycles and Achieving Resilient Growth to Build High-Quality Chinese Brands".Mr. Jiangnan Chun has conducted an in-depth analysis of the current changes in China's consumer market, pointing out that despite the impact of the pandemic, the consumer market has begun to warm up, but the overall recovery is still weaker than expected.He emphasized that brand building remains crucial in an uncertain market environment, proposing that effective media mix strategies, such as coordinated online and offline promotion, can truly enhance brand assets. In addition, he discussed the key role of brand advertising in long-term market share growth and proposed a marketing strategy for balancing product effectiveness. Mr. Jiangnan Chun believes that in today's market environment, strong brands should seize opportunities to launch offensive campaigns, increase market share, and achieve resilient brand growth.

Mr. Yang Mingchao, Chairman of Kouquan and Chairman of Huading Cold Chain, shared the theme 'Don't Panic! An Old Hand in the Food Service Industry Looks at the Current Situation'. Mr. Yang emphasized the industry characteristics and coping strategies in the 'roll-up' era..He pointed out that current high-quality productivity is concentrating towards leading enterprises, while small and medium-sized enterprises are facing increasing pressure and challenges.Against this backdrop, Mr. Yang proposed the strategy of 'breaking the volume barrier', including achieving endogenous growth through deepening market segmentation, improving structural efficiency, and enhancing repurchase rates and supply chain efficiency. He also emphasized the importance of low-cost high-efficiency operations, pointing out that companies should focus on digitalization, talent output, and rapid expansion to adapt to the rapid changes in the market. Mr. Yang Mingchao believes that by focusing on core businesses, building strong brands and products, China's catering industry can create 150 million-store chain brands in the future and achieve new heights of development.

Mr. Li Wenliang, Founder and CEO of Zhihangyi Group, shared the theme 'Zhihangyi: Strategies for Responding to Market Changes'. Mr. Li analyzed in detail the current situation of the Chinese market, pointing out that although demand has stagnated, there are still huge opportunities.He proposed that enterprises should attach importance to user operations, focusing on cultivating user activity and long-term loyalty. By innovating product strategies, setting reasonable price positions, and implementing omnichannel promotion methods, enterprises can achieve stable brand growth and an increase in market share. At the same time, he also mentioned that in a market environment full of variables, brands should maintain keen market insight, seize every opportunity for transformation and upgrading, and respond to uncertain challenges.

Ms. Meng Yajuan, Director of Legal Services at the China Advertising Association, conducted an in-depth analysis on the theme of "Understanding Advertising Compliance Risks." She introduced changes in current advertising regulations and policies, especially the implementation of the "Internet Advertising Management Measures" and the "Interim Measures for Combating Online Unfair Competition," which further clarified the definition and scope of internet advertising.Ms. Meng pointed out that advertisers and publishers need to strictly comply with advertising regulations to avoid false advertising, misleading users, and other violations such as failing to fulfill relevant review obligations. In addition, she mentioned that advertising compliance not only involves legal responsibilities but also concerns brand trust and image, as non-compliant advertisements can lead to serious negative social impacts or even legal litigation. Therefore, businesses must ensure that their advertising content is true and compliant when placing ads to maintain the long-term development of their brands.

Mr. Liang Jian, Deputy General Manager of Huatong Yunshang and CEO of Food Industry Headlines, shared the theme 'The Turning Point of the Great Food Era'.He pointed out that the current food industry is undergoing a transformation, with consumers increasingly demanding high-value-for-money products. Mr. Liang analyzed consumer trends, emphasizing that the future market will be dominated by quality improvement, diversified scenarios, and differentiation in consumption and channels. He proposed that companies need to provide precise product solutions based on the needs of different scenarios and demographics, to meet different demands for cost-effectiveness, value-for-money, and emotional value. In addition, Mr. Liang Jian also pointed out that China's new national brands are accelerating their rise, and these brands are gradually gaining competitive advantages in the global market by improving product quality, establishing new brand consumption relationships, and strengthening brand cultural confidence.

Mr. Liu Zhi, Chairman of Sichuan Yuanfang Yuntian Food Technology Co., Ltd., delivered an analysis of market trends and opportunities in the Chinese compound seasoning market under the theme of 'Market Trends of Compound Seasonings'.He pointed out that in 2023, the national catering revenue exceeded 5 trillion yuan, a year-on-year increase of 20.4%. With the diversification of consumer demand, the markets for compound seasonings and ready-to-eat dishes are developing rapidly. Mr. Liu mentioned that the future seasoning market will focus on innovations in taste, quality, convenience, etc., to meet consumers' needs for efficient, healthy, and high-quality dining. In addition, he also mentioned that against the backdrop of accelerated population mobility and smaller families, personalized and regional-characteristic seasonings will gain more market opportunities, thereby promoting the overall upgrading of the industry.

Ms. Lu Yang, the ace innovation partner, introduced successful cases in global brand building under the theme of 'Discussion on the Successful Overseas Expansion Cases of Wanglaoji and Yuanqi Forest'.She pointed out that since 2022, Ace Innovation has assisted many Chinese companies in successfully expanding into the US market and creating influential global brands. For example, through collaboration with Yuanqi Forest, they have successfully made it the first Chinese food and beverage brand to enter the global Costco, starting from the Chinese-American market and covering 24 million Asian-American markets across the US. In addition, Ace Innovation is also committed to promoting the Chinese beverage brand MetaVita globally, aiming to gain a leading position in the sugar-free tea sector. Ms. Lu Yang stated that through precise market positioning and brand strategy, Ace Innovation is helping Chinese brands achieve rapid growth in the global market.

Mr. Wan Yong, Chairman of SULLIVAN TELE-TREND CLOUD TECHNOLOGY and Chief Executive Officer of TradeGo, on the topic of "The Road to Listing in Hong Kong and New Developments in the Secondary Market"The paper analyzes the challenges faced by current Chinese consumer enterprises listing on the A-share market and explores the trend towards listing in Hong Kong. Mr. Wan Yong pointed out that due to the tightening of A-share IPOs, especially restrictions on the consumer industry, many consumer enterprises face high difficulties in going public, making Hong Kong an important trend for listing. The Hong Kong market, with its shorter listing cycle, lower financial and market value requirements, and more flexible market mechanisms, provides an ideal financing platform for mainland consumer enterprises. In addition, Mr. Wan Yong also mentioned that although the Hong Kong stock market has relatively low liquidity and valuation, its global financing platform's advantages make it outstanding in attracting international capital, especially for consumer enterprises seeking long-term development and international expansion.

The summit specially set up four roundtable forums where leaders and experts from multiple companies shared their experiences and insights on hot topics such as going global, breaking through internal competition, and supply chains.

Roundtable Discussion: Catering Enterprises Going Global

In the past two years, as the 'involution' within the domestic catering industry has continued to intensify, overseas markets have become a direction for domestic brands to break through. 2023 has even been defined by the industry as the 'first year for Chinese cuisine to go global'. Against this backdrop, at the event site of this year's Frost & Sullivan New Consumption and Food & Beverage Industry Investment Summit, a roundtable forum themed 'Catering Enterprises Going Global' was held. The roundtable was chaired by Ms. Song Wenbo, Chief Reporter of Hotpot Meal See, and invited Ms. Yin Yi, President and Co-founder of Liu Yishou Group, Mr. Yang Ou, Vice President of Happy Sheep International Catering Chain Brand, Mr. Zhuo Jiawei, General Manager of Guangshunxing, and Mr. Geng Jianhui, Founder of Chenzhi Big Data, to conduct in-depth discussions on topics such as the motivation for catering enterprises to go global, overseas planning, prospects and opportunities for overseas development, competitive state in overseas markets, how to build overseas supply chains, and localization of catering operations abroad.

Roundtable Discussion:How to Plan the Supply Chain and Consolidate the Fortress Wall of the Catering Brand

Over the past year, there have been significant changes in both the macroeconomic and consumer market environments. The catering industry has also faced unprecedented challenges: market competition is becoming increasingly fierce, and "price wars" became a theme for the first half of this year. Consumers are pursuing ultimate cost-effectiveness, and how to control costs/improve efficiency has become a key to reform, not only a key to success but also to survival! Therefore, how to plan the supply chain is particularly important. Against this backdrop, at the event site of this year's Frost & Sullivan New Consumption and Food & Beverage Industry Investment Summit, a roundtable forum titled "How to Plan the Supply Chain, Consolidating the Fortress Wall of Catering Brands" was held. The roundtable was chaired by Ms. Yang Sulan, head of the Consumer Group at CICC Investment Banking, and invited Mr. Yang Mingchao, chairman of Kouquan and Hua Ding Cold Chain, Mr. Wang Zhengguo, director of Juewei Foods and general manager of Netpool Capital, as well as Mr. Zheng Bo, vice president of Qicheng Capital, to discuss the theme of "how to consolidate the fortress wall of catering brands through supply chain planning and management, and achieve sustainable development." In-depth discussions were held on topics such as the successful elements of the supply chain, the supply chain management methods of overseas catering leaders, and how to build a supply chain to reduce costs/improve efficiency.

Roundtable Discussion:Breaking through involution: How enterprises position and innovate

Against the backdrop of increasingly fierce global competition and changing market environments, enterprises face multiple internal and external challenges. In particular, the phenomenon of 'involution' is gradually intensifying, with resource depletion and homogeneous competition becoming more pronounced. In this context, how to break through the dilemma of involution and find new positioning and innovation paths has become a key issue for corporate strategic development. This roundtable forum was themed 'Breaking Involution: How Enterprises Position and Innovate', hosted by Zhang Su, founder of the New Species Research Institute. It invited Mr. Wang Zhengqi, Chairman of Mo Xiaoxian, Ms. Liu Xiaohong, President of Diao Xiangji, and Mr. Xu Qing, Vice President of R & D at White Elephant Food, to discuss from multiple dimensions how enterprises can find a differentiated path in a complex environment and achieve sustainable development. Regarding the current situation of involution, core topics such as the root causes and impacts of enterprise involution, corporate strategic positioning and differentiated development, new consumer trends and user value enhancement, as well as innovation-driven development and market breakthroughs were explored.

Roundtable Discussion:Revitalize time-honored brands and domestic products

In recent years, the domestic food and catering industry has shown strong performance in the capital market. Trendsetters such as national cuisine, new-style pastries, and new-style tea drinks are popular tracks favored by capital. Driven by hot investment trends and supply chain innovation, traditional brands and domestic products are facing unprecedented opportunities and challenges. How old-time brands can rejuvenate themselves in the new era and how domestic products can make a name for themselves in the international market have become important topics for current corporate strategic development. This roundtable forum is themed 'Revitalizing Old-Time Brands and Domestic Products' and is hosted by Ms. Fu Yingna, a partner at Chenrui Capital. It has invited Mr. Yao Yang, the rotating CEO of BaoGuo Technology, Mr. Zhang Xiao, the product director of Golden Monkey Group, and Mr. Chen Jinhong, the founder/Chairman of Hongdao Consulting, to discuss how through innovation and inheritance, old-time brands can be given new vitality and domestic products can enhance their international competitiveness. The forum starts from multiple dimensions such as brand reshaping, technological innovation, and market expansion, sharing successful cases and practical experiences to help old-time brands and domestic products stand out in the fierce market competition and achieve sustainable development.

Release Ceremony: Frost & Sullivan's Overseas Products

The launch ceremony invited several heavyweight guests to witness the wonderful unveiling of the Frost & Sullivan Globalization Lab. At the beginning of the event, a captivating VCR kicked off the proceedings. Subsequently, Mr. Wang Junyu, founder of Junyi Media, gave us a wonderful introduction to the Paris office of the Frost & Sullivan Globalization Lab, showcasing the company's extraordinary vision and layout in the process of globalization. Immediately afterwards, Mr. Wang Chenhui, Managing Partner and President of Frost & Sullivan Greater China, and Mr. Benjamin, Head of Paris Region at Junyi Media, took the stage together to take a group photo, capturing this important moment. Ms. Xiong Shishi, Deputy General Manager of the New Consumer Business Unit at Hexun and Partner at Hexun Consulting, then introduced in detail the Japan business inspection team of Frost & Sullivan for consumer goods, bringing us the latest insights into the international market. Mr. Wang Chenhui, Managing Partner and President of Frost & Sullivan Greater China, and Mr. Akihiro Arigatani, Partner at Fum Consulting, took the stage together with Ms. Xiong Shishi to take a group photo, highlighting the bright prospects and shared vision of cross-border cooperation.

Release Ceremony: "Report on the Development of Brand Competitiveness in Major Countries"

Mr. Li Jin, Director of Brand at "Great Brands," grandly released the "Great Brands Competitiveness Development Report." As an important summary and outlook on the strength of Chinese brands, this report not only demonstrates how great brands emerging in the global market have achieved remarkable success but also points out the direction for future brand building. The report embodies the wisdom and insights of industry experts and is a valuable reference for anyone concerned about the rise of Chinese brands.

This report delves into the current development status and future evolution path of Chinese brands. It points out that enhancing brand competitiveness requires consolidating market share, strengthening risk resistance, and exploring new market opportunities. Chinese brands are improving their global competitiveness by strengthening originality, innovation, leadership, and growth. In addition, with changes in consumer behavior and the advertising market, brands must enhance brand awareness and value through precise market positioning and effective communication strategies. However, current Chinese brands also face challenges such as user growth bottlenecks, scarce attention resources, and misaligned pricing positioning. Therefore, brands need to continuously optimize product originality and enhance cultural soft power to achieve long-term sustainable development.

Launch Ceremony of the Growth Star Selection

To better drive industry development, Frost & Sullivan, in collaboration with Huatang Cloud Business and Food Industry Headlines, has jointly launched the highly anticipated "18th China Food Industry Growth Stars" selection event. The purpose of this event is to assist in innovation and development of food categories and promote continuous progress across the entire industry. At the launch ceremony, a gathering of guests was present. Mr. Liang Jian, Deputy General Manager of Huatang Cloud Business and CEO of Food Industry Headlines, Ms. Qiang Chaoxian, General Manager of Business Operations at Food Industry Headlines, Mr. Wang Chenhui, Managing Partner and President of Frost & Sullivan Greater China, and Mr. Zhang Jiaojian, Partner and Managing Director of Frost & Sullivan Greater China, were specially invited to jointly kick off the Growth Stars launch ceremony.

Focusing on the Sichuan-Chongqing Hotpot Track: The "2024 China Hotpot Industry Development White Paper" was officially released

Mr. Xie Shuqin, Executive Director of Frost & Sullivan Greater China, interpreted the "2024 China Hotpot Industry Development White Paper," which focuses on analyzing the current development status, characteristics, driving factors, and future trends of the Sichuan-Chongqing hotpot industry against the backdrop of continuous development in the Chinese hotpot track. The report aims to systematically sort out the ecosystem and industrial development pattern of the Sichuan-Chongqing hotpot industry for the global industry community, providing cutting-edge insights for market observers and investors. Subsequently, Mr. Xie Shuqin officially released the "2024 China Hotpot Industry Development White Paper."

Insight into new trends, new scenarios, new engines in the food and catering industry: The "Food for Life: 2024 China Food and Beverage Industry White Paper" was officially released

Mr. Liu Wenjun, Executive Director of Frost & Sullivan Greater China, interpreted the "Food for Life: 2024 China Food and Beverage Industry White Paper," which focuses on market dynamics and development trends of the Chinese food and beverage industry over the past year, highlighting new trends, new scenarios, new engines, and aiming to interpret the current development status and future prospects of the Chinese food and beverage industry from a scientific, rational, and professional analytical perspective. It also organized leading enterprises to discuss the development trends and growth paths of the food and beverage industry from their respective perspectives, helping the industry identify potential growth points and break through various challenges currently faced by the food and beverage consumption industry. Subsequently, Mr. Liu Wenjun, Executive Director of Frost & Sullivan Greater China, and Ms. Liu Sen, Public Relations Director of Daily Food Media, jointly released the "Food for Life: 2024 China Food and Beverage Industry White Paper."

Under the enthusiastic applause and collision of ideas, the New Consumption and Food and Beverage Industry Investment Summit successfully concluded with a wonderful speech and intellectual exchange. We would like to express our gratitude to all the distinguished guests and experts for their support of the Frost & Sullivan New Consumption and Food and Beverage Industry Investment Summit.