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As the world of commerce was temporarily paused due to COVID-19, Lothar Herrmann, president and CEO of Siemens AG China, believes that the digitalization trend has been fast forwarded. Innovation, in particular, has become a decisive factor for countries to lead and win in the digital age.

As the world's leading digital industrial company, the GE has realized the fastest growth in the past 20 years, which coincides with the fast economic development in China, said Duan.

As the country's influence grows, understanding and exchanging ideas will be critical for everyone. Also, China is now setting examples in many key areas from the mobile internet to e-commerce.

As the national five-year plan is cascaded to provincial and municipal jurisdictions, nearly 20 cities have set even more ambitious targets. For example, Changde, Zhenjiang, Zibo, Wuxi, Suzhou, Shanghai, Beijing, Shenzhen and Chongqing will require 100 percent of new commercial buildings to be green. In the pursuit of even more sustainability, more than 90 percent of China commercial-building owners plan to have at least one net or near-zero energy building in the next 10 years.

As this year also marks the 40th anniversary for sister cities between Nagoya and China's Nanjing, friendship between the two sides could be further deepened at this significant juncture, he added.