'Dual circulation' to boost growth (Ⅳ)

A1: Our business in China accounts for about a quarter of Panasonic's global business scale, and the Chinese market is the most important overseas market for Panasonic. Against the backdrop of the COVID-19 pandemic and the global economic downturn, the revenue from the Chinese market increased 4 percent in the second quarter of 2020, compared with same period in 2019, and rose 2 percent year-on-year in the third quarter of 2020.

A2: In the new dual-circulation development pattern, Panasonic attaches great importance to the new development opportunities underpinned by the "noncontact economy", and will also be committed to providing new proposals for clean concepts for people's daily lives after the pandemic, hoping to contribute to the internal circulation in terms of health, elderly care, cleanliness, and noncontact cold chain.

A3: Panasonic was able to quickly resume work and production in China, reaching a resumption rate of 100 percent in mid-March in 2020 under the guidance of safeguarding foreign investment in the "Six Safeguards and Six Priorities" policy. During the difficult period of international personnel exchanges, the government actively coordinated business personnel coming to China and provided convenience for foreign companies in China, which also helped Panasonic's business in China proceed smoothly. In addition, local governments have introduced a series of favorable measures and provided preferential policies in social insurance, providing strong support for Panasonic's development in China.

A4: The Chinese government has taken strong epidemic prevention and control measures during the epidemic and provided a variety of support to enterprises after the resumption of work and production. Panasonic expresses its sincere thanks for this. After we resumed work and production in China, no one was infected. This is the result of strong support from the central and local governments.

A5: In the new stage of development, people's living standards will be further improved, which will also make more people pay attention to high-quality, convenient and healthy lifestyles. Panasonic is committed to providing the public with healthy and safe integrated smart home appliance services. At the same time, Panasonic will focus on health, elderly care and the fresh food supply chain to make contributions to people's well-being.

A6: As the second-largest economy in the world, China has gradually transformed into a major consumption, engineering, and innovation country while maintaining its status as a major manufacturing country. The Chinese market has incomparable advantages, and provides many development opportunities for countries around the world.

A7: China's 14th Five-Year Plan and its long-term development goals for 2035 are guidelines for China's economic and social development in the next five years and beyond. It also clarified the further promotion of the dual-circulation development pattern, which is of great significance for Panasonic to continue to deepen its business in China.

Panasonic will regard the health, elderly care and fresh food supply chain as its growth areas, and integrate its traditional advantages in home appliances and residential equipment, and unique technical expertise in the cold chain and refrigerator industry as the business foundation.