We are convinced that we can only work closely with our Chinese partners by having deep roots in China. This is reflected in the fact that we have not only offices in Beijing, Shanghai, Guangzhou and Shenzhen, but also many local partnerships and especially three joint ventures in the core areas of our business: Siemens Signalling Co., Ltd. , Siemens Traction Equipment Ltd., Zhuzhou and Saitong Railway Electrification (Nanjing) Co., Ltd.