Executives survey the prospects for China's future prosperity

Ralph Haupter, Microsoft Corporate Vice President and CEO of Greater China Region. [Photo provided to China Daily]

A1:Adjusting the economic growth target to a flexible growth range demonstrates the government's focus on sustainable, long-term growth and innovation-driven development through structural reforms. Achieving sustainable, long-term growth will rely heavily on technology and innovation.In this new stage of innovation-driven development, more and more industries and companies will look to digitalize their operations by leveraging advanced technologies such as big data, IoT and cloud computing.

A2:While implementing structural reforms for more sustainable economic growth, it is also vital to identify and embrace future trends, thereby positioning China to take the lead in the next industrial revolution. One major trend that has already begun, but will only accelerate and evolve in the future, is the digital transformation of businesses and organizations large and small. The vast growth of social and mobile technologies, combined with cloud computing and the advent of big data and IoT have created a technological shift that is opening up a whole new world of innovative possibilities.With visionary policy initiatives such as "Made in China 2025," and the world's most complete supply chain and industrial system, China is no doubt one of the most important frontiers of digital transformation.

A3:China's "supply-side structural reforms" will have a very strong impact on the long-term health of China's economy, as they address issues of capacity, quality, competitiveness, and innovation, which are four key factors for enabling economic growth and ensuring sustainable development. Advanced technologies such as cloud computing, big data and IoT will play a decisive role in empowering the implementation of supply-side structural reform. This provides technology companies such as Microsoft substantial business opportunities in the Chinese market. On one hand, traditional industries will attempt tostreamline their operations and develop innovative products and services using high-tech solutions, while businesses in emerging sectors will look to remain efficient and innovate by leveraging digital technologies early on. With an open and inclusive mindset, Microsoft will provide tailored solutions to empower customers and ecosystem partners to utilize existing resources and achieve digital transformation.

A4:Since entering the Chinese market in 2010, Booking.com has always regarded China as one of its most important foreign markets. The eased tax burden will allow companies to invest more into product and service optimization and innovation, which will benefit industry upgrading and economic transformation in the long run. For Booking.com, these government initiatives give us confidence to invest continuously in China and develop more customized and innovative products specifically for the Chinese market.