Executives confident about China business

A1 We feel that China has a positive outlook for the year 2022 that should create opportunities for domestic and foreign enterprises alike. Its growth prospects are supported by its complete industrial chain, rich human resources, convenient infrastructure and a huge domestic market. The fact that China is willing to further open up means that foreign companies will have more areas where they can compete and which should ultimately benefit the Chinese consumers.

A2 BSH has been rooted in China for over 20 years. China is a truly exciting market, as well as one of the worlds' biggest and most dynamic home appliance markets, and one of the most important markets for BSH.

Looking ahead, we will continue to deepen our understanding of Chinese consumer insights and adhere to our BSH China strategy of "developed in China, and for the rest of the world". This means that we are introducing cutting-edge innovation and technology into China first and foremost for the benefit of Chinese consumers, and consequently for the benefit of global consumers.

A3 Our sentiment on the recent key meetings, which include the Central Economic Work Conference, is positive. We deeply feel that China's business environment continues to improve.

China has been actively building platforms that offer foreign companies greater opportunities to communicate and cooperate. Take the China International Import Expo (CIIE) as an example. BSH has participated and exhibited at CIIE for four consecutive years. Through this platform, we are able to get closer than ever to consumers and get first-hand feedback on our products, thus gaining a better understanding of Chinese consumers' actual needs.

A4 We are a major advocate of sustainable development. With China increasing its promotion of the"3060" carbon goals, Chinese consumers are increasingly paying attention to sustainable lifestyles. To respond to this demand, BSH will continue to leverage our expertise, and accelerate efforts to develop even more water and energy saving products.

A5 China is one of the most important markets for BSH, and we expect its importance to grow further. The country has two unparalleled advantages. First and foremost, it is its sheer number of consumers. Chinese consumers are increasingly discerning in pursuing the very best quality of products and services, and are also displaying a great willingness to pay for them. This plays very much to BSH's premium product offerings, and will also benefit BSH in other countries. Secondly, cutting-edge technologies are welcomed in China. This has led BSH to continue to increase its investments.