'Dual circulation' to boost growth (Ⅳ)

A1: TE Connectivity (TE) has been rooted in China for more than 30 years. China is one of the most dynamic and strategic markets for TE across the globe. In the past fiscal year, our strong business performance in China has contributed to TE's global performance. In 2020, TE increased its registered capital of 120 million yuan ($18.32 million) to further our development in China.

A2: TE sees huge potential in the country's industrial and consumption upgrades, an engine behind high-quality economic development in China.

When the country upgrades its advanced manufacturing capabilities, China requires more efficient, reliable and smart connectivity and sensor solutions. Consumption upgrading will lead to increasing demands in healthcare, consumer electronics, new energy vehicles and smart home appliances. When premium industrial products, such as new energy vehicles and smart home appliances, provide a strong foundation for the country to boost domestic market expansion, they also bring about huge opportunities for companies like TE.

A3: One notable piece of guidance in the "Six Safeguards and Six Priorities" is to ensure stability in investment with a focus on "New Infrastructure" initiatives.

According to the National Development and Reform Commission, the "New Infrastructure" is focused on seven areas, of which TE has categorized into two main groups: the iterative upgrade of traditional infrastructure and the massive rolling out of digital infrastructure.

A6: China has a strong domestic market where various new forms of business develop. At TE, we are excited about the opportunities generated by the industrial technology trends in China, including electric vehicles, industrial-IoT, telecommunication infrastructure and more.

As our customers count on us for sensing and connectivity solutions to advance their technology or innovation, we will continue to consolidate our manufacturing and engineering capabilities in China to better support them.

A7: The commitment of China to pursue its long-term development in a sustainable manner is something that we strive to achieve in common.

We are committed to supporting sustainability efforts in two ways. First, TE is committed to embedding sustainability in our daily operations with the goal of "decreasing waste disposed" and a "35-plus percent reduction in greenhouse gas emissions" by 2030 globally. Our China operations will play an indispensable role in this commitment. Second, we continue to work together with our customers to create sustainable solutions and technologies. We will keep enabling innovations in new energy vehicles, renewable energy and other sustainable sectors in China.