Top executives weigh in at CIIE (III)

A1: Panasonic has participated in the exhibition for four consecutive years. Panasonic positions the CIIE as a global strategic exhibition and spends more than half a year each time preparing for this expo actively. We hope to use the CIIE platform to strengthen in-depth exchanges with local governments or enterprises, understand the world from this window, and let the world understand Panasonic.

A2: At present, the world economy is gradually recovering, and holding the CIIE manifests China's determination to open its door wider to the outside world. As the world's first import-themed national-level expo, the CIIE has established a communication platform for exhibitors and merchants across the globe, and it will inject vitality into the market, and play a positive role in giving a further boost to the world economy.

A3: The COVID-19 pandemic has brought uncertainty to the global economy. The holding of fourth CIIE as scheduled and China's continued efforts to expand imports and opening-up will play a positive role in promoting the recovery of the world economy. In addition, China has put forward the dual-circulation development paradigm, in which domestic circulation is the mainstay and the domestic and external markets reinforce each other. We believe the CIIE will become an important stage for promoting the dual-circulation development paradigm.

A4: At the second CIIE in 2019, Panasonic put forward two major business strategies, namely, elderly care and fresh food supply chain. We added the environment-related theme during this year's CIIE. China's consumer market is huge and the CIIE will drive a new round of consumption demand. Panasonic will continue to launch products, and introduce technologies and solutions to improve the quality of life in accordance with the change of consumer demand.

A5: With the implementation of the Foreign Investment Law and the dual-circulation development paradigm, Panasonic has truly felt that the business environment in the Chinese market has been continuously improved and optimized since the rollout of the reform and opening-up policy, which has brought about more opportunities and development space for business operations. The resilience of China's economy under the pandemic is obvious. Now that the annual CIIE is being held as scheduled, we have full confidence in the Chinese market.

A6: China's economy has entered a stage of high-quality development. China continues to expand opening-up and carry out international cooperation, allowing foreign-funded enterprises to gain broader market access and new development opportunities. China's market potential is constantly being tapped. The strong resilience of the Chinese economy, the huge space in the Chinese market, and China's higher-level opening-up have left us full of expectation.

A7: Panasonic entered the Chinese market in 1978 and can be said to be a witness to reform and opening-up. China unswervingly expands its opening-up, promotes high-quality development, and will further improve the market environment based on transparency, equality, openness and fair competition. So, it will attract more foreign-funded enterprises, which will enter China and strive to find a firm foothold in the Chinese market.

A8: China adheres to free trade and multilateralism, which has provided more opportunities for world economic growth. This year is the 20th year since China joined the WTO (World Trade Organization). China has developed into the world's second-largest economy. While maintaining its status as a major manufacturing country, it has gradually transformed into a major consumption, engineering, and innovation country, with unparalleled superiority. Panasonic insists on taking root in China and takes advantage of Electronic World Trade Platform (eWTP) and the Regional Comprehensive Economic Partnership (RCEP), not only striving for boosting domestic sales in China, but also actively promoting its exports to Asia.