Q4 While China is expanding opening-up, some are concerned that geopolitical tensions, rising protectionism and global supply chain adjustments may weaken China's attractiveness to foreign companies. What's your take? How important will China be for your global business in the coming decade? What more opening-up measures can China take to offset the impact of the complex external environment?

YOOVIDHYA: In the next decade, China will remain a critical landing zone for our global business, being one of the world's largest consumer markets. As an investor in China, we believe to further enhance its attractiveness to foreign enterprises and effectively counteract the impact of the complex external environment, China can implement several practical opening-up measures.

First, to strengthen intellectual property protections and improve enforcement levels, allowing foreign companies to invest in innovation with confidence is key. Second, to further relax restrictions on foreign investment at the product entry level, creating a fairer and more transparent competitive environment to stimulate market vitality is necessary. Third, to promote open cooperation in emerging industries and cutting-edge technologies, fostering joint progress and development among domestic and international enterprises is advisable.

ZHU: The reform and opening-up measures introduced at the plenary session demonstrate China's proactive stance and methods for mitigating external environmental impacts. These measures, including enhancing market openness, reducing market entry barriers, promoting international cooperation and optimizing the business environment, reflect China's commitment and sincerity toward openness. The Chinese market is one of Ziwi's most important markets and is crucial to our global strategy. As our CEO Stuart Irvine has stated, "Deeply rooted in the Chinese market, we are dedicated to serving Chinese pet owners." In the next decade, we will continue to invest in the Chinese market, get closer to Chinese consumers and channels, and respond more flexibly and rapidly to market demand.

TSAO: The immense potential of the Chinese market and its continuously open policies remain opportunities that foreign enterprises cannot overlook. China's position and influence in the global supply chain remain highly significant. The Chinese market has always been very important to Red Hat. We have continuously increased our investment in the Chinese market. We believe that through further deepening reform and opening-up, and optimizing the business environment, China will continue to attract more foreign enterprises.

CHEN: Geopolitical dynamics are a crucial factor for businesses in the global operational landscape. China and Singapore, as traditional friendly nations, elevated their bilateral relationship to a "Comprehensive, High-Quality and Forward-Looking Partnership" in 2023. In the first half of 2024, Singapore's actual investment in China saw a 10.5 percent increase. The Singapore Exchange is very optimistic about the vast potential and opportunities within the Chinese market and continues to play a significant role in China-Singapore interconnectivity. Looking ahead, SGX aims to introduce more products linked to the Chinese market, enhancing its suite of Chinese financial products.