Maximizing structural market evolution

Q5 Looking ahead to the second half of the year, what will you be watching most closely as indicators of China's economic resilience, reform progress and long-term growth potential?

HAN: Three sets of indicators will be most telling in the second half of the year.

The first is industrial automation and robotics demand, which serves as a real-time gauge of manufacturer confidence and the pace of China's productivity upgrade.

Order volumes, deployment rates, and new application sectors will signal whether the transition to intelligent manufacturing is accelerating or consolidating.

For ABB Robotics, we will be watching this particularly in logistics, healthcare and life sciences, construction and new energy vehicles.

The second is high-technology manufacturing output across robotics, semiconductors, advanced materials and new energy.

This will show whether China's industrial policy investments are translating into durable productive capacity or remain concentrated in demonstration projects.

The third is export resilience and supply chain integration.

The degree to which Chinese manufacturers move up the value chain in export markets, competing on technology and quality rather than price alone, will be a meaningful signal of long-term structural progress and China's ability to sustain its global economic role amid ongoing geopolitical headwinds.

WANG: In the second half, I will be watching how innovation — particularly in biotech, AI and digital health — translates into tangible improvements in patient outcomes.

CSL's strategic ambition is to deliver enduring patient impact in areas of high unmet medical need.

As the market leader in albumin in China, we understand the responsibility that comes with serving patients and the healthcare system, and we remain committed to maintaining a stable and reliable supply for Chinese patients.

I am also encouraged by our growing engagement in China this year.

CSL is increasing its presence at major national exhibitions and industry conferences and will make its debut at China International Import Expo — further demonstrating the strategic importance of China within our global business.

Overall, I remain optimistic about the future of China's economy.

Driven by innovation, talent and a commitment to high-quality development, China is well positioned to continue creating opportunities for businesses, investors and, most importantly, patients.

CSL is proud to be part of that journey and looks forward to contributing to China's next chapter of growth.