To put it simply, you cannot be a global company without doing business in China.

With close to 20 percent of the global population, the size and pace of the development of the market in China cannot be ignored. Over the past four decades of reform and opening-up, while having made remarkable economic achievements, China has provided Rio Tinto and other foreign companies with abundant growth opportunities.

China's continuous high-level opening-up has brought about a multi-win situation. For foreign enterprises, there are more opportunities. For China, more opportunities for innovation and greener development arise from economy and society. For the entire world, China offers the sharing of cutting-edge technologies and ideas.

Despite short-term headwinds or challenges, the fundamentals ofa resilient, high-potential and prosperous economy in China remain intact. The business environment for foreign enterprises has steadily improved in China over the last ten years. We are encouraged that China's approach to foreign investment remains positive.