Q4 China's trade-in program generated over 2.6 trillion yuan in sales in 2025, alongside the "Shopping in China" and "Export to China" initiatives. China's exports grew 6.1 percent year-on-year. How is your company aligning its China strategy to capture both domestic consumption upgrades and export-oriented opportunities? Do you see China increasingly as a global production and innovation base serving international markets? How are you balancing local demand expansion with China's role in your global export ecosystem?

Cui: As we step into the 15th Five-Year Plan, foreign enterprises should adopt a "long-term perspective" to seize China's development opportunities. We must upgrade from simply replicating global products in China to a dual-engine cooperation model driven by both domestic and international markets, focusing on joint R&D and co-building industrial ecosystems.

As an established industrial software company with nearly 60 years of history, Aveva is committed to helping enterprises strengthen their supply-side capabilities. By leveraging digitalization and industrial intelligence to enhance efficiency, quality and sustainability, we are actively stepping into the arena to accelerate the development of new quality productive forces and boost China's high-quality development.

Zhang: From Dassault Systemes' perspective, China is increasingly becoming a major source of technological innovation within global value chains.

In the automotive sector, we have established strategic partnerships with companies such as GAC Group and XPeng, enabling end-to-end digital innovation. Meanwhile, in intelligent robotics, our industrial software is enabling key capabilities such as precision dexterous manipulation, dynamic bipedal balance and AI-driven robotic intelligence.

These innovations are not only serving the Chinese market, but also increasingly influencing global industries. Through industrial AI and virtual twin technologies, Dassault Systemes aims to accelerate the global adoption of innovations developed in China — helping transform "innovation in China" into solutions that contribute to global industrial progress.

Zhao: "Made in Hitachi Energy China" has been well accepted and recognized by customers worldwide, and we are exporting to over 100 countries with significant growth every year. Energy transition and electrification are shared global priorities. Driven by the energy super cycle and global energy transition, our export volume has witnessed significant growth for the past couple of years.

On the one hand, thanks to Hitachi Energy's global footprint, we enjoy a solid market base across regions. On the other hand, with Chinese customers' strong initiative to "go global", we leverage our long-term partnerships and our international reach to support them cultivating their overseas market. We have worked with over 400 Chinese EPC companies to deliver more than 1,000 overseas projects, helping a wide range of countries and regions expand renewables and improve power systems.

Dewoon: In Scania's third global industrial hub in Rugao, we develop and manufacture trucks to global standards, contributing significantly to Scania's overall industrial capacity. From day one, the Rugao hub has been designed to serve not only the Chinese market, but also export markets across Asia and beyond.

Initially, we estimate that production will be evenly split between the domestic and export markets. At the end of the day, the market decides where the production ends up. We expect that with time the majority of the production will go to the Chinese market.