Q2 In 2025, China's exports rose 6.1 percent, newly established foreign-invested enterprises increased by 19.1 percent, and research and development intensity reached 2.8 percent of GDP. Against the backdrop of global supply chain reconfiguration, is China's role in your global strategy expanding? How do you evaluate China's integrated advantages — manufacturing depth, innovation capacity, infrastructure and market scale — in supporting your production networks and supply resilience? Does China function primarily as a market, a production base, an innovation hub, or increasingly all three within your corporate architecture?

Ni: Amid accelerating supply chain restructuring, China plays a multidimensional role for Kuehne+Nagel, as a key market, a critical hub and a capability center. Continued export momentum, rising foreign investment and sustained R&D underline China's strengths in manufacturing depth, innovation intensity, infrastructure efficiency and market scale.

China is both a major production and consumption base and a key gateway connecting Asia-Pacific with global markets. Its advanced port clusters, air hubs and sophisticated logistics infrastructure continue to strengthen its role across sea and air logistics. In the ongoing reconfiguration of global supply chains, China's role is being reinforced through diversification with the country remaining an irreplaceable node for high-value manufacturing and innovation-intensive activities.

Abebe: Amid the restructuring of global industrial chains, the stable growth of China's economy and technological innovation are driving rapid upgrades of supply chain systems. For Ethiopian Airlines, the Chinese market has become a core strategic pivot for our global strategy. China is not only a destination for passenger travel, but also a key point of origin in the global cargo network. We have launched routes to 11 cities in China, including the newly inaugurated freight route to Urumqi, Xinjiang Uygur autonomous region, precisely because we recognize the distinct industrial characteristics of different regions within China. The Chinese market serves as an indispensable "Asian hub" within our global network connecting Europe, Africa and South America.

Zhou: China is a strategic market for LDC, with its vast consumer base, deep manufacturing capabilities, robust innovation ecosystem and comprehensive infrastructure. LDC has continued to deepen its production footprint in China, investing in four greenfield projects to enhance its processing capabilities. The company has also established a global R&D center in Shanghai and launched two specialty feed ingredients production lines in Tianjin, transforming research outcomes into innovative products.

These developments reflect China's importance as a key market, production hub and innovation center for LDC. We are looking to further enhance our presence and deepen local partnerships, with a goal to ensure safe, reliable and sustainable food and agriculture supply chains for current and future generations.

Xu: China has great advantages in operational efficiency and resilience. China's supply chain has shown great resilience while its talent team and product quality are also very competitive. Airbus focuses on deepening and enlarging its supply chain in China with the "local for local" strategy, in collaboration with both State-owned enterprises and the private sector. Currently, around 200 suppliers in China support the production of Airbus commercial aircraft. We invest in high-quality industrial capabilities in China in a systematic way and are committed to serving as a model of cooperation in the high-tech aerospace industry between China and Europe.