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We retain a positive outlook for the Mainland Chinese It market heading into 2025, with robust growth expected. Market momentum will be supported by factors including rising enterprise demand, public sector upgrades, and retail demand. Our positive outlook for the economy's IT market is based on the strong investment outlook and the government’s bold technology advancement plans. The IT sector's momentum is backed by initiatives enhancing technology adoption, industry growth and enterprise IT demands. Elements like cloud computing, Internet of Things, 5G and connected technologies play a central role in industrial progress. Given ongoing US-China tech tensions, China will continue its efforts to build a domestic integrated circuit and semiconductor base over the next five years.