Q3 How do you view China's new reform initiatives aimed at fostering new quality productive forces, such as those to encourage industrial upgrade and technological innovation? Do you see these as opportunities or challenges for foreign enterprises, and why?

SHIH: China's new reform initiatives aimed at fostering new quality productive forces underscore the significant potential and opportunities in the country's technology and innovation sectors. Rockwell Automation remains committed to advancing technological progress in collaboration with local partners. Through close collaboration, Rockwell actively promotes the large-scale application of emerging technologies such as 5G, artificial intelligence and industrial internet of things in China.

Rockwell is devoted to establishing world-class cross-border platforms in China. A key instance of this dedication is our partnership with Caohejing Hi-tech Park in 2023, resulting in the joint establishment of a co-innovation center. This collaboration seeks to accelerate the industrialization and scaling of innovative technologies, bridging the gap between technology innovation and economic benefits.

ZAMAN: China proposed new quality productive forces in 2023, focusing on high-tech and high efficiency, aligning with the country's emphasis on achieving high-quality development for Chinese modernization.

For China to achieve its high-quality development goals, scientific and technological innovation and industrial transformation are essential. Aveva helps industrial enterprises in China achieve this by connecting people with trusted information and insights, driving greater efficiency in a responsible manner.

Our long-standing expertise in manufacturing transformation and technological innovation positions us uniquely in this field. We leverage cutting-edge technologies like artificial intelligence, big data, industrial internet of things, cloud computing and digital twins to provide the digital backbone business leaders need to build safe, efficient, agile and sustainable operations.

HOMMA: Panasonic has about 50,000 employees in China and nearly 10,000 of them are dedicated to technical research and development. I have always believed that China is not only a manufacturing giant and a major consumer market, but also an innovator with exceptional engineering talent. I am convinced that the cost of doing business in China reflects the global standard. Currently, we develop our products in China, and if we can't succeed here, we won't be able to succeed anywhere in the world.

AYLMER: The core of new quality productive forces is about advanced productivity featuring high-tech, high efficiency and high quality. It is the driving force of reform to advance the high-quality development of China's economy. The resolution of the plenum vows to develop China's innovative capabilities to achieve greater self-reliance and strength. It is more an opportunity than a challenge for MNCs in China.

Though competition between foreign and domestic companies in certain sectors might be fiercer, China's ongoing efforts to foster new quality productive forces will eventually inject fresh momentum into global economic growth and provide massive opportunities for MNCs to explore the huge market here. Foreign investors will also be able to work with China in pushing for further progress in industrial upgrades and sci-tech innovation.