Howard Ozawa, executive vice-president of Canon Inc and president & CEO of Canon (China) Co Ltd

I quite agree with President Xi Jinping. In particular, President Xi stated that China is taking solid steps to deepen the reform and opening-up, shedding light on foreign firms' development in China. Canon will definitely seize the opportunity to contribute to China's consumption and industrial upgrading.

I have been working overseas for decades. Among the countries and regions I've lived, China is the fastest-growing one.

First, it's been drastic how the Chinese people have changed their thinking. Since the reform and opening-up, more and more Chinese young people take a positive approach to competition. And more young people will choose to study abroad to expand their horizons. China has also become a desirable country that people all across the world would love to come.

Second, I've seen the rapid development of China's economy. During the past 40-year reform and opening-up, its GDP has grown at a high speed and now the country has become the world's second-largest economy.

Third, people's living standards are gradually improving and more people live in affluence in the nation. With people's increasing purchasing power, they are pursuing higher-quality lives.

Last, China has taken a giant leap forward in terms of technological revolution. China is transforming from the "world factory" to a new smart manufacturing powerhouse. Forty years ago, with huge technological advantages, companies from Japan, Europe and United States came to China, offering local firms assistance and support. Now, that changes. We need to learn from many Chinese companies, especially the booming internet firms, as China is at the forefront in the world in many emerging sectors, such as the mobile payment.