Sean Stein is the Co-Chair of Covington and Burling’s China Public Policy Practice, advising international businesses on political risk, public affairs, communications, and US and China government relations. He regularly assists companies resolve acute or long-term issues in China and to navigate challenges caused by conflicting US and Chinese policies and perceptions. Sean provides strategic advice to US and international clients on market access, safety and security, risk, and compliance.
Prior to joining Covington, Sean served for nearly three decades as a US diplomat, including stints as Consul General in both Shanghai and Shenyang and in leadership positions at the former Consulate in Chengdu, the office of Chinese Affairs in Washington, DC, and various countries throughout the Asia Pacific region.
He also has a particularly long history of working with AmChams. Sean supported the establishment of AmCham in NE China. His second term as Chair of AmCham Shanghai concludes at the end of this year. Now based in Beijing, Sean is looking forward to channeling his energy and experience to serve AmCham China and its members around the country.
Conference Hall
The total retail sales stood at RMB 34.2 trillion from Q1 to Q3 2023, up by 6.8%. Resilience, recovery, and hope are on the way. However, we must not ignore the fact that only 50% of consumers are pleased with their financial status. The confidence of consumers in different income bands, according to a report by BCG, could further diverge. Affluent consumers are more willing to spend, while the middle class, as the mainstream spenders, is stressed. Against this backdrop, product-ism and cost performance are making a comeback. We are going to discuss:
—What signals are indicated by the macro economy as to consumption trends in the future?
—What are the characteristics of categories for which consumers show a stronger willingness of purchase?
—What more is expected by consumers of brands and products?