Q3 China is advancing the unified national market, with an urbanization rate of 67.9 percent and total retail sales surpassing 50 trillion yuan. As domestic demand expands, what structural opportunities does this vast, increasingly integrated market present for your portfolio, distribution channels, and localization strategy? Does deeper market unification reduce operational fragmentation and compliance costs? How do you position your brand and product mix to capture demand from both top-tier cities and fast-growing lower-tier markets?

Ni: We believe the core opportunity of a large, unified national market lies not only in scale expansion, but in converting scale into efficiency, innovation and long-term competitiveness under a unified regulatory framework. The unified market enhances long-term certainty by lowering cross-regional operating costs and enabling scalable, standardized operations nationwide. Greater market integration also enables logistics providers to deliver cross-regional, integrated supply chain solutions more efficiently.

The combined effect of the development of a unified national market and domestic demand growth is driving structural demand for high-value logistics and supply chain solutions. This includes nationwide distribution and fulfillment networks, as well as end-to-end and more resilient supply chain solutions supporting manufacturing upgrading.

Abebe: For Ethiopian Airlines, China's efforts to advance the unified national market represent a precise structural and regional opportunity. As China's middle-income population continues to expand, demand for fresh, high-quality products from Africa is surging. Our cold-chain logistics capabilities will directly connect to Chinese kitchens, enabling Ethiopian coffee, Kenyan flowers and South African citrus fruits to be efficiently distributed nationwide via logistics hubs such as Zhengzhou, Henan province, and Ezhou, Hubei province.

Meanwhile, China's western region is undergoing rapid urbanization, generating strong demand for infrastructure, engineering machinery and consumer goods. Through our routes to Urumqi and Chengdu, we are well-positioned to support enterprises in western China in expanding globally.

Zhou: China's unified national market presents significant structural opportunities in line with LDC's growth strategy. We are seeing important demand growth for high-quality proteins, with China's annual per capita meat consumption increasing from 62 kilograms in 2014 to 72 kg in 2024 and leading to animal feed market expansion in the country.

Feed ingredient market growth by 7 percent year-on-year directly supports our strategy to diversify into value-added product lines and pursue further operational integration across value chains. Deeper market unification is reducing operational fragmentation and compliance costs, enabling the streamlining of logistics and regulatory processes across regions. This allows LDC to optimize supply chains and better serve our customers. Our investments in feed ingredients empower us to deliver tailored solutions for local market needs.

Xu: China is the second-largest economy with the largest aviation population in the world. Airbus is confident in the prospects of China's civil aviation market and predicts that China will require more than 9,500 new passenger aircraft and 730 freighters for fleet renewal and expansion. Airbus will support the high-quality development of Chinese airlines with highly efficient, new generation aircraft such as the A220, A320neo, A330neo, A350 and A350F models, as well as high-quality customer services in training, maintenance, materials, digital tech and connectivity.