Q2 "New quality productive forces" is widely seen as key to helping China achieve industrial upgrade and "high-quality development". How can your company help cultivate such forces in China?

LIU: DFS contributes to China's high-quality development through global-local synergy. Our Yalong Bay project, opening in Hainan FTP, will integrate over 700 luxury brands while incubating local talent and sustainable practices. By blending LVMH's global resources with AI-driven innovations — such as personalized shopping experiences and smart supply chains — we aim to elevate Hainan's luxury sector into a globally competitive industry. This model not only supports China's industrial upgrade, but also sets a benchmark for sustainable, tech-driven retail.

ZHANG: Between 2023 and 2024, Grupo Bimbo invested an additional $72 million in China to enhance product safety, upgrade production facilities, expand manufacturing capacity and improve factory environments. We place product safety as a No 1 priority. We drive product innovation through our Beijing and Shanghai R&D centers, developing safe, healthy and delicious products to meet evolving consumer needs. For sustainability, Bimbo China implements Global Bimbo standards consistently. For example, we are gradually shifting to eco-friendly logistics solutions with new energy vehicles.

ZHU: Ziwi is deeply committed to developing "new quality productive forces" which align closely with China's vision for high-quality development. At Ziwi, we prioritize innovation and technology to drive long-term growth and sustainability. By leveraging globally advanced pet food production technologies and utilizing big data to deeply analyze market demand in China, we develop high-quality, nutrient-rich pet foods that promote technological advancement and transformation within the pet industry. We are steadfast in our commitment to sustainable development, adopting eco-friendly production methods to reduce our carbon footprint. This philosophy is integral to Ziwi's brand messaging, as we aim to inspire both industry peers and consumers to embrace environmentally responsible practices. Through these efforts, we actively support China's "dual carbon" goals and contribute to a greener, more sustainable future.

YOOVIDHYA: The development of new quality productive forces is a critical driver of China's high-quality growth, and at TCP Group, innovation has always been at the core of our strategy. We are committed to a technology-first, innovation-driven approach, continuously integrating cutting-edge advancements across production, operations, sales and R&D to enhance efficiency and create greater value. In manufacturing, our Sichuan TCP Group Red Bull Beverage production base is a prime example of this commitment. We have introduced industry-leading high-speed automated production lines and intelligent three-dimensional warehouses, seamlessly integrating production, storage and resource optimization. This not only boosts efficiency, but also enables us to meet global green factory standards, reinforcing our dedication to sustainability. On the R&D front, our China R&D center leverages AI and big data analytics to gain deep consumer insights and accelerate product innovation. A key milestone was the launch of China's first bottled Red Bull product in 2023, a testament to our ability to adapt to evolving consumer needs through advanced technology.