Feature Interview | Pandemic Outbreak Is Not Damping Bureau Veritas' Confidence of Further Business Growth in China

Recently, Mr. David Xun Wang, Senior Vice President of Bureau Veritas and CEO of CIF Division, Bureau Veritas Greater, told International Business Daily during his interview that although COVID-19 has had a certain impact on the market, Bureau Veritas remains confident in its business in China.

Bureau Veritas has been actively helping China to fight COVID-19 since the outbreak of this pandemic. As the pandemic spreads across the world, Bureau Veritas China has immediately supported other countries, delegating experienced Chinese staff to countries along the Belt and Road so that they can provide guidance and management assistance concerning project construction safety and staff health.

Bureau Veritas is globally well-known in testing, inspection, certification and technical consulting services. Mr. David Xun Wang, Senior Vice President of Bureau Veritas and CEO of CIF Division, Bureau Veritas Greater, said, "China's experience in effectively containing the spread of the COVID-19 could serve as a lesson for other countries now facing the pandemic. Bureau Veritas is confident about future development of the Chinese market. We believe that after this period of dormancy and accumulation due to the pandemic outbreak, we will be more than fully prepared to strive for a market recovery."

The pandemic outbreak has had some negative impacts on the global economy. David mentioned that Bureau Veritas’ business had also been affected since the testing, inspection, certification and consulting industries are to a certain extent dependent on the development of real economy, involving industry, food, construction, import and export trade and other industries.

According to the financial report, Bureau Veritas' total operating revenue reached 5.1 billion euros in 2019, realizing a year-on-year increase of 6.3%, of which the Chinese market accounted for 17%. Major contributors were the strong growth of building and infrastructure business, energy project management, consumer goods and other sectors. According to David:"So far, Bureau Veritas expects that the impact of the pandemic outbreak on the group's global revenue will be reflected in the first quarter of 2020, but China's control of the pandemic and the economic activities currently reviving highlight the potential for a strong economic recovery in the second or third quarter. While China will continue to play a key role in the global supply chain and industrial chain, the potential and resilience of the Chinese market will help it maintain its leading position."

"In 2020, China, as always, will be one of the most important markets in our global strategy." David further stated that in the list of investment plans for key projects in 2020 released in early March, the total planned investment of eight provinces amounted to 33.83 trillion RMB. This means that the infrastructure after the pandemic is set to grow exponentially, especially the infrastructure for 5G, artificial intelligence, Internet of things, industrial Internet and so on, which is very much consistent with the development strategy of Bureau Veritas in 2020. In addition, many new business opportunities need to be further explored after the outbreak. For example, Bureau Veritas is working with relevant enterprises and departments in the construction field to determine how to embody the concept of health, safety and environmental protection in the architectural design, and how to avoid public health events.

As reported, Bureau Veritas has actively assisted in China's pandemic prevention and control since January, as evidenced by the facts that it has set up a special pandemic prevention and control team, raised designated donations and formulated exclusive guidelines for work. Besides, it has fully assured staff health while ensuring business stability; Bureau Veritas also provided professional project management services for the construction of "Xiaotangshan" hospitals in Shenzhen, Xi'an and other locations, and enhanced quick-pass food inspection services for supermarkets and agricultural markets; in view of the difficulties faced by enterprises resuming work and production, Bureau Veritas hosted dozens of public lectures and developed Self-inspection List for Enterprises Resuming Work and Pandemic Prevention, helping hundreds of enterprises inspect and reflect on themselves every day.