China will deliver broad-based growth

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?

XU: China's focus on driving domestic consumption is closely aligned with its strategic investments in infrastructure, green energy and advanced manufacturing — key factors that will sustain long-term demand for metals and minerals. As urbanization continues and initiatives such as the expansion of electric vehicles, renewable energy projects, and grid upgrades gain momentum, demand for copper, aluminum and high-quality iron ore will remain strong. Home appliances represent another key area driving metal consumption. As Chinese consumers upgrade to more energy-efficient and smart appliances, the demand for materials such as aluminum, copper and steel is expected to grow. For Rio Tinto, the shift toward a consumption-driven economy is expected to have a positive impact. China, our largest market, accounts for nearly 60 percent of group revenue, with over half of our products supplied to the country. We believe China's focus on domestic consumption will underpin sustained demand in key commodity markets.

ZHU: Domestic consumption has been, and will always be, one key pillar for the Chinese economy. To adapt to the pace of change in the consumer sector and people's longing for a good life has become the anchor points for future innovation at a time of rapid technological advances. As brands adapt their strategies to meet evolving customer needs and create meaningful connections, it is imperative to create beacons of trust in communications, commerce, products and service. We will work with them to forecast the changing dynamics between technology and users, establish guardrails of technology usage, and align with people's growing desire for more immersive and authentic experiences.

YOSHIDA: At present, consumers pay more attention to product quality, user experience and personalized demands. In fields like technology, culture and entertainment, demand for high-end products and quality content is rising, driving consumption upgrading. This aligns perfectly with Sony's strengths in delivering premium entertainment experiences, especially in the "experience-driven consumption" field. Looking ahead, Sony will continue to tailor its products, technologies and entertainment content to meet Chinese consumer preferences, ensuring we are well-positioned to seize the opportunities presented by a consumption-led economy.

ZHANG: China's consumer market is shifting from "scale expansion" to "quality transformation", undeniably driving economic growth. As consumer demand upgrades and service sectors expand, China's position in the global economy will strengthen. Businesses must respond faster with personalized solutions and lower-carbon product life cycles to meet evolving market needs. For Dassault Systemes, this means offering more customized solutions enabled by virtual twin technology, helping businesses enhance product personalization and innovation while reducing inventory and costs. For example, using our modeling and simulation technologies, we can design personalized insoles based on individual foot data, helping consumers customize running shoes and improve performance. We believe that with China's innovation and market potential, Dassault Systemes will achieve significant progress in profit growth and business expansion in 2025.