Distinguished guests,

I am very happy to attend this summit. And share my ideas with you on innovation and Asian prosperity.

The 21st century is Asia's century and also China’s century. China will play an important role in Asia's economic development. We are now meet with many challenges.

The majority of FDI globally is already drained into this fast growing part of global markets. Those markets, especially China, are no longer just a place of cheap labor. Innovation is on the rise in Asia Pacific.

Especially China and India are quickly moving up the value chain to challenge other countries leadership in innovation.

The driving force for independent innovation within the market is the rising consumer class in Asian countries that like "new toys" and demand the latest technologies and features as status symbols.

With a tradition of over 160 years, Siemens is and has ever been a company where innovation was at the core of its value.

China already is an important research and development base for Siemens. We will further extend.

In our view, innovations have to provide solutions to the challenges possessed by the global mega trends: demographic change and increasing urbanization.

Innovation has and always will be the most important lever for better productivity and growth, and therefore the best way to increase value for the customers and the company. It is true for national economies as well. Innovation therefore, remains key to the future of the Asia Pacific region.

We have several research centers in China with 150000 employees. We have also conducted cooperation with famous universities in China. I want to make it clear that innovation needs cooperation from many sides. Only by doing so will we have a brighter future and better promote economic development in China.