'Dual circulation' to boost growth (III)

A1: China is not only an important growth engine for our global business portfolio. It has also become an innovation powerhouse that propels our long-term business development in China and beyond. Johnson & Johnson's business has witnessed strong growth in China since the second quarter, leading the global market. For example, our Medical Devices business achieved double-digit growth in both the second and third quarters, further boosting China's share in Johnson & Johnson's global business portfolio.

A2: We are pleased to see that China continues to open up and is dedicated to creating an open and fair business environment. China's new "dual circulation" development pattern is beneficial for the company's development in China by providing a vast market. We strive to meet the patients' and consumer's fast-growing needs by introducing more globally advanced products and solutions to China.

A3: We are encouraged to see that the Chinese government continues to promote an open, fair, transparent and predictable investment environment. It not only boosts the confidence of foreign companies like Johnson & Johnson, but will also help the economic recovery and growth.

A4: I'm deeply impressed by the Chinese government's stance of putting the lives of the people first and acting quickly and decisively to successfully control the further spread of the virus, which allowed the nation's economy to be the first in the world to recover.

This not only supports the world economic recovery, but also boosts the confidence of multinational companies like Johnson & Johnson to continue to invest in China. With government support, all of our plants and offices across our businesses in China have quickly resumed operation earlier last year to ensure the stable and sustainable supply of critical healthcare products for our patients and consumers.

A6: China is the "growth and innovation" dual engine for Johnson & Johnson. With an emerging middle class, aging population, and increased healthcare awareness and customized needs for high-quality healthcare products and services, China has the potential to lead the world into a healthy future.

As China is the first country to achieve economic recovery amid the pandemic, our business sectors in China – medical devices, pharmaceuticals, consumer health and vision -- have all achieved strong growth since Q2. In particular, our medical devices business has witnessed significant double-digit growth in Q2 and Q3, further increasing China's share in the company's global business portfolio.

Under the post-pandemic new normal, we believe China will be playing an increasingly strategic role for Johnson & Johnson's global business and truly fulfill our position as the duel engine.

A7: Johnson & Johnson's development strategy in China is very much in line with China's future development strategy. In the new five-year period, we're looking forward to seeing more support from the government in innovation, especially in the healthcare industry.

We are also deeply encouraged to see that China has put "building a healthy China" in a strategically important position, which provides a strong driving force for the development of multinational healthcare enterprises in China, including Johnson & Johnson.