Annual Report 2019

ANNUAL REPORT 2019 15 CHAIRMAN AND CHIEF EXECUTIVE OFFICER’S STATEMENT Looking ahead, although China’s economy has been impacted by recent trade war turmoil between China and the United States and the slowdown of world economy, we see the signs of China’s economy stabilizing after China government taking active measures to stimulate economy, such as rolling out tax cuts and the banks’ reserve requirement ratio cuts to unleash cash for banks to lend in order to support economic activity. We believe China’s GDP growth will still be higher than peer countries. As for FEC, with our clear business strategies and targets, I am optimistic we can achieve continued long term growth enabling us to increase our return to the Shareholders. I would like to take the opportunity to thank our Shareholders, partners, customers and approximately 4,000 employees for their concerted effort, which yielded sustainable and steady development of our business. They are the key reasons for the Group’s success. David CHIU Chairman and Chief Executive Officer 20 June 2019