Better business environment benefits all
A1 Obviously China has witnessed historical achievements in the past 70 years, especially after it started to carry out its reform and opening-up policy about 40 years ago. Today, China has become the world's second-largest economy and people's living standards have been hugely improved.
With a booming economy and improvements in living standards, the demand for energy has grown rapidly in the past few decades. Total is a major energy player committed to supplying better energy that is safer, cleaner, more efficient and affordable. We are honored to make a contribution to the growth of the Chinese energy industry and meet the demands of Chinese people by developing our business across the entire value chain in the country.
A2 With China's transitioning from a phase of rapid growth to a stage of high-quality development, a more sustainable and greener economy is increasingly emphasized. In the energy sector, China is transforming its energy structure to a low carbon mix.
As a responsible energy major, Total's strategy works to respond to environmental challenges, and therefore perfectly aligns with China's pursuit of energy transformation. We stopped producing coal in 2014. As the world's second-largest liquefied natural gas operator, Total has been a key partner in the development of China's natural gas supply while also advancing electricity production and storage applications.
A3 The newly passed Foreign Investment Law provides a clearer, unified and more powerful legal protection for foreign investors, thus creating a level playing field that is better regulated and fair. In particular, an article stipulates that "the government will apply a pre-establishment national treatment and negative list management system to foreign investors".
The passing of the law is an important signal to the world that China is committed to further opening-up and improving the investment environment for foreign investors, a major testament that the country is actively taking concrete initiatives. It undoubtedly reinforces our confidence in the Chinese market.
A5 China's efforts to streamline red tape and enhance work efficiency have borne fruit. Total benefits from it as administrative reviews are simplified and approval procedures are speeded up. It also enables us to better understand the regulations and policies and give feedback in a more efficient manner.
In essence, these efforts indicate China's commitment to building a service-oriented government and to optimizing its business environment. I believe a stable, fair, transparent and predictable business environment is the foundation for developing a modern economy, ensuring high-quality development and stimulating market vitality and social creativity.
