Q4 Driving domestic consumption is one of the top priorities for China to spur economic growth this year. How do you see China's potential to drive a consumption-led impetus for the economy? How will that affect your company's profitability this year?

MA: We believe the fundamentals of China's long-term economic growth remain unchanged, with its vast market size, continuously upgrading consumer demand and improving industrial ecosystem providing broad development opportunities for foreign enterprises.

As an automaker, "driving innovation to enrich people's lives" is our corporate purpose, with the aim of enhancing our innovation capabilities to provide our customers with more exciting products and experiences. This is why we launched our updated brand proposition "Excitement by NI" in China last year to constantly pay close attention to Chinese consumer needs.

We hope that the products we develop for Chinese consumers will be well received and appreciated, contributing to stronger business growth.

YIN: Under the requirements of high-quality development, the demand for green and intelligent products from Chinese users has surged, driving various industries to transform and upgrade. In response, Schneider Electric leverages its advanced technology and extensive experience to empower industries with the "dual transformation" of digitalization and decarbonization, propelling them toward high-end development. For example, in sectors such as food and beverage, chemical, biomedical and electronic, our comprehensive digital solutions and services, which cover the entire lifecycle of products and assets, are helping enterprises enhance efficiency, save energy, and improve the traceability, intelligence and safety of their products.

AN: China is an important market for Henkel. With stimulating domestic demand set as a top priority for 2025 at the Central Economic Work Conference held in Beijing last December, we remain confident in the long-term growth of China's consumer goods sector.

By deepening our investments — including the 2024 acquisition of the Vidal Sassoon brand in Greater China and the launch of our Asia R&D Center in Shanghai with 100 million yuan of investment — we aim to better serve Chinese consumers with localized innovations tailored to their preferences.

Looking ahead, we will continue to invest in China to meet the evolving needs of this dynamic market.

CHEN: The Chinese market offers enormous opportunities to businesses in various sectors. China's evolving consumer preferences continue to drive growth. In the first three quarters of 2024, China's FMCG market achieved a stable increase of 0.8 percent amid economic uncertainties.

If we look into the beauty segment, China is the world's second-largest high-end beauty market and the largest high-end skincare market. It is also the second-largest global market for hair care products, with the premium segment growing at an impressive 12 percent annually.

Seeing the great potential of these sectors, Unilever remains confident of opportunities emerging in the FMCG industry, also supported by proactive government policies and China's rapidly evolving digital channels. China's fast-growing e-commerce and specialized retail chains present an opportunity for Unilever to adapt and optimize our strategy of "social-first demand creation" — leveraging innovation and channel upgrades to meet evolving consumer needs and enhance our market presence.