Import fair bolsters high-tech innovation

A1 The CIIE is a significant platform for Philips in China to exchange, exhibit our products and solutions, make our brand known to the Chinese public and find business partners.

We expect to leverage this great opportunity to further introduce and localize cutting-edge innovations to China, listen to the feedback of clients and consumers to better serve the market, seek more business partnerships and cooperation, and jointly explore opportunities to grow in the country with all players.

A2 The CIIE is an important event that boosts China's economic development this year, promoting its wider opening-up and helping to achieve mutual benefits and win-win results. China is the second-largest market for Philips and is important for the company's future growth plans. Adhering to our long-term commitment of "In China, for China", we are accelerating to bring advanced innovations, deploy stronger innovation capabilities and push forward local innovation to better serve and root in China.

A3 Given its scale and the crucial role it plays in supply chains across multiple industries, the world depends on a strong Chinese economy. Furthermore, the Chinese market provides companies with significant growth opportunities. With deep roots in China since 1985, when we set up our first joint venture, Philips has witnessed and participated in the rapid development and has achieved continuous growth by deploying a wide range of business footprints in the country, including R&D, manufacturing and services.

A4 China is one of the largest markets for health technology with dynamic momentum and potential. Along with its economic development, and the transformation and upgrade of the healthcare industry, we are dedicated to the Chinese market.

In 2022, we have further driven our "China Strategy" through local innovation, local manufacturing and partnership with the local ecosystem to better serve the Chinese market with faster speed, more precise perspective and more optimized approaches.

A5 China's efforts to promote the dual-circulation development paradigm allow the domestic and overseas markets to reinforce each other, which creates a new impetus for win-win cooperation and offers more opportunities to the rest of the world for shared growth.

China's economy is deeply integrated with the world economy. With the country's continuous efforts to broaden market access and share opportunities with foreign investors and companies, we look forward to seeing a more open and inclusive business environment for multinational companies to develop and grow, with more global cooperation and partnerships facilitated around various industries.