Execs optimistic about China's growth
A1: China has entered a new development stage in 2021, the first year of its 14th Five-Year Plan. Qualcomm has fully prepared to embrace the new opportunities ahead. First, China is advancing a new development pattern featuring domestic and international "dual circulation". As a connector of the two circles, Qualcomm continues working with our Chinese partners to develop both overseas and domestic markets.
Second, technological innovation is emerging as a new driver of future development. With the advent of information and communication technology, including 5G, Artificial Intelligence, Internet of Things etc, more opportunities are expected for us to achieve win-win outcomes with the Chinese ecosystem by maximizing every company's resources and advantages.
A2: China's 14th Five-Year Plan and 2035 long-term development goals are prioritizing the development of strategic emerging industries, and we believe the next generation information and communication technology led by 5G will drive future growth in those industries. 5G has been highlighted in China's Government Work Report for five consecutive years, and is expected to expand into virtually every sector of China's economy, enabling integrated innovations and fundamentally transform industries.
Therefore 5G will become a powerful engine for China's innovation-driven development. We feel strongly that the Chinese government's prioritization of digital infrastructure, in particular 5G, will create significant opportunities for Qualcomm to foster more innovations and business success, both locally and abroad with Chinese companies in the ecosystem.
A3: The commitment of China and other major countries to technological innovation contributes significantly to human progress and social development. We believe that indigenous innovation and international collaboration complement each other, which help China gain from the world's leading technologies, while at the same time enables China to benefit the rest of the world through its achievements. We are convinced that outstanding scientists, business leaders and industry players worldwide have the wisdom and vision for achieving mutual benefits and common development. Collaboration is at the heart of this vision.
Qualcomm has established R&D centers and joint innovation centers with many local partners across China. And for over a decade, Qualcomm has supported many Chinese startup companies covering areas ranging from mobile technology and frontier technology, with global market insights and venture investment.
To date, Qualcomm Ventures has invested in over 60 companies in China. We have also been expanding our footprint into various fields, including 5G, AI, internet of things, big data, connected vehicles and extended reality, etc. These fields are expected to become the new engines of innovation and international cooperation for many Chinese companies.
A4: Qualcomm has witnessed, actively participated in and continuously contributed to China's opening-up. We are deeply impressed by how determined China is to foster a world-class business environment. Over the last two decades, China's opening-up initiatives have created broad opportunities and promising prospects for Qualcomm's local development and ecosystem collaborations.
China's commitment to promote higher-level opening-up and strengthen intellectual property rights protection will attract more foreign investment and encourage more Chinese companies to go global. Through advanced technologies and products, value-creating collaborations, long-term investment and our ongoing commitment to fostering a diverse ecosystem, Qualcomm has also benefited from China's opening-up, as our success is closely connected to our partners, industries and local communities. We are encouraged by China's steady economic recovery since the second half of 2020, as well as its policies and determination to drive economic globalization.
A5:China has made remarkable progress in environmental protection and sustainable development. Qualcomm also successfully met or exceeded its 2020 corporate responsibility goals. As we look forward, we have established 2025 quantitative targets for corporate responsibilities. Among these, we will continue to address and improve our environmental performance through greenhouse gas reduction strategies and to reduce power consumption.
In addition, Qualcomm has leadership in technologies that will improve energy efficiency in mobile devices and other applications. For example, the Cellular Vehicle-to-Everything technology that we drive allows vehicles to work closely with traffic signal controllers, ensuring reduction in carbon emissions and optimization of traffic efficiency.
