A1: Under the "new development stage", China's economic development is transitioning from a high-speed model to a high-quality model. This is providing more growth opportunities for Henkel as we move forward with our efforts in innovation and technological advancements, anchor sustainability in everything we do and drive digital transformation to meet Chinese customers and consumers' ever-growing demands for high-quality solutions.

This new stage is guided by the new dual circulation development paradigm, which emphasizes the mutual reinforcement of domestic and international markets. In this new era, Henkel remains focused on driving purposeful growth by investing in our R&D and product development, as well as in new market opportunities.

A2: The 14th Five-Year Plan (2021-25) underscores China's focus on innovation, further opening up the economy and driving sustainable growth, which will increase demand for Henkel's high-impact and sustainable solutions. Our strategic framework for purposeful growth aligns very well with the nation's agenda, and we will continue strengthening our local R&D and production capabilities to accelerate impactful innovations. Together with our local partners we are driving sustainability and embracing digital transformation, which creates superior value for customers and consumers in China.

In terms of industries, we are especially excited to see several emerging sectors such as new materials, new energy vehicles and electronics promoted within the Plan. Henkel is committed to enabling China's industrial upgrade with our leading technologies and brands.

A3: China's continuous efforts to open up and to reinforce international cooperation will be of great benefit to innovative companies such as Henkel.

Through the strong local innovation and production capabilities that we have built up in China over several decades, we are able to consistently deliver advanced technologies and leading solutions across industrial and consumer sectors. Looking ahead, Henkel will continue to enhance our end-to-end capabilities that will deepen our cooperation with local customers, reshape industries and accelerate market development.

A4: China's latest market reform policies, including the new Foreign Investment Law and high-standard market system, are reinforcing a fairer business environment and injecting new growth momentum that will benefit all players in the market.

China is playing an active role in economic globalization and this creates more business opportunities for companies worldwide. Henkel is committed to serving our Chinese customers and consumers with trusted brands and high-impact solutions, building end-to-end capabilities, and implementing business initiatives under our strategic framework for purposeful growth.

A5: Sustainability is firmly embedded in Henkel's strategic framework and this aligns with China's national agenda of a green economy. In 2020, given the need to reduce CO2 emissions to limit global warming, Henkel enhanced our long-term vision to become a climate-positive company by 2040 to drive progress in our operations as well as in relevant areas of our value chain. For example, part of our production is already powered by green electricity that is generated directly on site by wind turbines and solar panels. In the next few years, we aim to cover 100 percent of our demand for electricity with renewable energy.

In partnership with our customers and consumers across the globe, we reduced more than 55 million tons of CO2 emissions in the five-year period up to 2020. In China, our adhesive solutions enable carmakers to reduce the weight of car bodies and improve the performance and longevity of batteries for electric vehicles, which contributes to CO2 savings. Moving forward, Henkel will strive to reach the target of 100 million tons globally by 2025.