Execs optimistic about China's growth
A1: As the year 2021 is the first year of China's 14th Five-Year Plan period (2021-25), the country will enter a period of new development, shift over time its focus of economic and social development from economic scale to efficiency and quality, and make "high-quality" development the new theme of the growth this year.
China is our largest market. In China, our success in adoption of a series of localization strategies makes us more confident in the company's long-term development. By means of our "second kitchen" project, we have met the needs of the Chinese market, and our products have been shipped and sold to other emerging markets.
In fighting against the COVID-19 pandemic, mobile imaging system - a pillar product of Carestream, plays an important role. In order to meet the market demand, Carestream, for the first time, has deployed the product line in China and boost the production volume. The sufficient supplies of our medical equipment will facilitate more people to have the access of gaining better medical services with lower cost across China.
A2: The core of high-quality development of medical devices is scientific and technological innovation. During the14th Five-Year Plan period, China's industry of medical device is expected to enter a stage of high-speed development. The applications of new technologies related to the internet, big data and artificial intelligence create more innovative space for development of China medical industry. As AI promotes the advances in radiology, Carestream has launched advanced applications such as smart positioning to help reduce the workload of technicians and boost their work efficiency.
As a provider of medical imaging systems, we have 755 technical patents and our products are being used in 90 percent of medical institutions worldwide. As a foreign-invested enterprise, Carestream centers on meeting the needs of Chinese users, promotes innovation and R&D in China, consolidates the Chinese market, and guides the Chinese technologies to go global.
A3: China has been enhancing its independent innovation ability, drawing on more international advanced practices, and sharing more scientific and technological achievements with other countries. For Carestream, China is not only a sales market for our products, but also an important source of our innovation and an engine for the future development. At present, the Shanghai Research and Development Center, the Rochester Center (the United States) and the Genoa Center (Italy) are three major global innovation and R&D centers of Carestream globally.
In addition to intensifying our efforts for research and development, we are advancing the "second kitchen" project, aiming mainly to develop products that meet localized needs of the Chinese market and other emerging markets. In the meantime, we have introduced the practical experience and business solutions gained from China to other emerging economies such as India, Brazil and Southeast Asian countries. We have achieved win-win results in local research, development and international cooperation.
A4: We always advocate open, inclusive and win-win cooperation in a fair and transparent business environment. Against the background of deepening reform and opening-up, China will continue to promote trade liberalization and investment facilitation, foster a better business environment, create a sound environment for fair competition, and achieve win-win results. We believe that all of these factors will create fresh momentum for all foreign companies operating in China.
As the Chinese market further opens, we believe that more commercial opportunities will emerge. Carestream will continue to make greater investments, provide our customers with a series of advanced solutions in opening-up and cooperation through technical innovations in an economical and effective way, so as to meet the increasingly diversified needs of Chinese customers and make Carestream's technologies truly benefit more patients.
A5: Carbon neutral is a global vision for responding to climate changes and achieving sustainable development. China has proposed the goal of carbon neutral, reflecting its responsibilities for environmental protection and responding to climate changes. The realization of the goal of carbon neutral cannot happen without the interactions among the government, enterprises, individuals and other different entities.
As a multinational company, Carestream conducts business in such a way as to preserve the environment and protect the health and safety of its employees and customers. In terms of environment preservation, we will create practical solutions and establish new management system to support product commercialization and manufacturing in a sustainable way.
Carestream is committed to sustainable development. We will continue to make technological progresses and innovations, promote low-carbon transformation of medical equipment manufacturing, and reduce energy consumption and carbon emissions from production in the future.
