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Jean-Paul Agon, Chairman and Chief Executive Officer of L'Oréal

I am excited that I have been invited here and had the privilege to listen to President Xi's keynote speech at the China International Import Expo.

In his remarks, President Xi pointed out the reform and opening-up is not China's solo but a chorus with the other countries of the world, that opening can facilitate international economy and trade, and that inclusive development and shared benefits is the most promising path forward.

This echoes L'Oréal's beliefs. By tapping the momentum of reform and opening-up, we are confident in forging ahead on our beauty journey in China, backed by our unwavering commitment of quality, innovation, sustainability and inclusive growth.

For over 110 years, L'Oréal has been dedicated to the beauty industry. Beauty is an aspiration that cuts across the boundaries of nations. Today, thanks to China's reform and opening-up, and invaluable support from all stakeholders and long-term trust of China consumers, L'Oréal China has become the No 1 beauty player in the country and the second largest market for L'Oréal Group worldwide.

We are very pleased to note that during the past years, the Chinese government has promulgated a whole host of policies aimed at creating a more supportive business environment and at better supporting multinational companies in their development in China. Those government's efforts have given us more confidence in winning the future in the new golden era for beauty.

Beauty has the power to change the world, inspiring people to pursue better lives. With that comes a responsibility. We will continue to accelerate the introduction of aspirational products and innovation to the Chinese consumer and make China the market for the launch of more new brands and products, in Asia and even the world. 

China, with its leadership of global technologies innovation, has also allowed us to reap the fruits of our efforts to "Innovate in China, For China, Inspire The World". In many areas, such as online + offline new retail, digital, and environmental friendly consumption, we are sharing the "China wisdom" and "China experience" with the global consumer and beauty industry.

We are confident that the prosperity of China will surely benefit the world. The China dream is also the dream of the world as well as the beauty dream of L'Oréal. The future of China is the world's future, and also L'Oréal's future.

It's our hope at L'Oréal that we can work with Chinese government and the world to create and share the era and future of "beauty for all"!

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