A1: Our longstanding and strategic relationship with China as well as our presence in the country is core to ERG's business. China makes up about 25 percent of our sales, which include ferrochrome, cobalt, copper, alumina and iron ore products.

Despite the COVID-19 pandemic and its disruptive effects on the international supply chain, our business in China continues to post strong results, which have helped further reinforce ERG's financial performance. For example, our iron ore shipments to China reached 3.6 million tons from January to September last year, setting a new record. For the same period last year, a total of around 1.9 million in iron ore shipments was recorded.

We are committed to further developing our relationship with China and exploring new avenues of growth going forward, supporting the country's transition to a low-carbon economy.

A2: We have been a beneficiary of China's reform and opening-up policies. This is especially true in the context of the Belt and Road Initiative, which has brought great support to our project development overseas. The internal circulation side focuses on improving manufacturing, developing the transition to a service-based economy and promoting new infrastructure projects, which entail significant demand for our products such as ferrochrome, iron ore and cobalt. Therefore, we are very supportive of China's dual circulation development pattern and look forward to utilizing our extensive portfolio to contribute to China's rapid economic development.

A3: As an international metals and mining company, ERG engages in mineral products sales and project cooperation in China. Among the "Six Safeguards and Six Priorities", ensuring and promoting stability in foreign investment, international trade, supply chain and other fields has further created an attractive and reliable business environment. 2020 was a challenging year. The rapid resumption of our operations in China and the progress of ERG's trade and cooperation cannot be achieved without China's policy support in relevant fields.

A4: The pandemic has been a test for China's policies, as it has been for all countries, and there is no doubt that China's economic development model is well suited to its national needs and aims. We can already see that the Chinese economy is recovering rapidly and people's lives are returning to normal as a result of a series of drastic and well considered measures that were implemented efficiently. These measures have significantly reduced operational risks in China and helped our business to continue to develop. As the world's second largest economy, China plays a critical role in promoting and safeguarding global economic development. With a burgeoning consumer market, China is not only in a position to drive global growth but also promote regional supply chains.

A5: This is certainly a positive development and an indication of the country's growth and maturing profile. China is at the forefront of developing high-quality and innovative industries and products. For example, in the field of emerging technologies, China's progress in 5G is unparalleled. The extensive roll-out of new infrastructure is also driving the rapid development of related industries in China. ERG is confident that our extensive portfolio and strategic assets will strongly support the transformation and development of related sectors and infrastructure.

A6: China has been a longstanding and strategically important market for ERG. China is a global leader in many areas, and is certainly one of our core markets. China's vast manufacturing base provides a growing market and long-term opportunities for the mining and metals sector. China has been reiterating and strengthening its support for opening-up. From financial support to project construction and cooperation, it provides very promising avenues for us to promote our business. We believe that China's tremendous market potential and vibrant industries will continue to positively influence the world economy.

A7: We look forward to seeing the further development of emerging industries, new infrastructure, the open economy and the Belt and Road Initiative. The Chinese government has stepped up its commitment to actively develop industries including new energy vehicles, along with new infrastructure projects and construction, including 5G and EV charging stations. These will all further drive our sales of copper, cobalt and other products to the country.

China has also highlighted its intention to build an increasingly open economy and promote high-quality development in the context of the Belt and Road Initiative. This specifically includes further relaxing access to foreign investment, facilitating trade and investment, and ramping up support for Belt and Road projects. We look forward to continuing to leverage our extensive portfolio to help the country achieve its development goals.