By South China Morning Post | Created at 2024-11-17 00:01:07 | Updated at 2024-11-17 02:42:20
2 hours ago
Poised, with a sleek bob and understated, elegant jewellery, it would be easy to imagine 40-something Liu Chang as part of the arts scene rather than a key player in China’s pig farming sector. But Liu is no ordinary agribusiness executive.
The daughter of Liu Yonghao, one of the richest men in China, went to high school in the United States, has an executive master of business administration degree from Peking University, and now helms the listed subsidiary of one of China’s largest privately-owned agribusiness firms, which was founded by her father.
As the chairwoman of New Hope Liuhe, Liu Chang runs a company that has become a key player in agriculture, animal feed, dairy, and food production in the world’s second-largest economy.
And like the modern face of the traditional company, New Hope is trying to adapt to the economic shift reshaping China’s consumer landscape.
“We’re seeing people prioritise practicality and value for money,” Liu Chang said. “When we look at the consumption habits of the post-2000 generation, they’re not spending like before – they’re even going to senior citizens’ canteens.
“This shift reflects a group-wide change. They’re starting to save, and they don’t have the same drive to accumulate assets that we, the post-80s generation, did when we were all focused on buying homes and cars. It’s a major structural shift.”
