Foreign firms enthusiastic about opening-up progress

Q5 The plenary session has stressed that reform tasks laid out at the meeting shall be completed by the time the People's Republic of China celebrates its 80th anniversary in 2029. How do you expect the new reform and opening-up measures to transform the Chinese economy in the coming five years? What strategies will your company adopt to align with the expected transformation? Looking ahead, in the second half of 2024, what are your expectations for the Chinese economy? How do you think your company will fare in this evolving landscape?

SHIH: China's recent reform and opening-up measures reaffirm its dedication to fostering an open economy and driving modernization, with a significant focus on sustainable development. These initiatives align seamlessly with Rockwell Automation's sustainable values. As a green technology pioneer, Rockwell is eager to support this endeavor by actively partaking in the advancement of China's sustainable manufacturing landscape.

Furthermore, Rockwell prioritizes the cultivation of a robust green development ecosystem in China. In 2024, we jointly initiated the Climate Lighthouse initiative with Shanghai Climate Week, signaling the start of a long-term plan centered on smart and sustainable innovations. Through this continuous endeavor, Rockwell will forge stronger collaborations with Chinese partners to create a synergistic community that promotes a net-zero future.

ZAMAN: We see China as a highly promising and enduring market due to its immense scale, innovation capabilities, and unwavering commitment to achieving net-zero goals. Through our industrial intelligence solutions, we hope to be able to support China's journey toward greater sustainability, energy efficiency and innovation.

As China continues to modernize, we anticipate growing demand for digital transformation across various industries. This evolving landscape presents exciting opportunities for Aveva to collaborate with businesses of all sizes, helping them optimize operations, reduce carbon emissions, and enhance efficiency.

HOMMA: To keep up with the rapidly changing environment, Panasonic is vigorously pursuing localization strategies. Our products and software for the Chinese market are developed locally, as are our IT systems that support daily operations. These systems are created by the Panasonic China team and utilized by our 64 subsidiary companies. We are also building a robust R&D team in China to deliver advanced products to Chinese consumers. Looking ahead, we aim for our Chinese team to support the Belt and Road Initiative and serve customers worldwide.

AYLMER: China's GDP expanded 5 percent in the first half of 2024, and is on track to hit the full-year economic growth target. It mirrors a comprehensive picture of China's economy: while facing both internal and external challenges, it is undergoing a stage of transformation toward a high-quality development model under which the development of new drivers, such as new quality productive forces, is gaining steam.

Our industry is also feeling the change, but the fundamentals remain solid, and the market remains appealing in the long run. Our approach will be dynamic, rooted in deep market insight and aligned with the government's priorities.