To realize sustainable and profitable growth a priority: Dow Corning

Editor's note: With the annual sessions of the National People's Congress and the National Committee of the Chinese People's Political Consultative Conference ending with a call to adapt to "new normal", chinadaily.com.cn sat down with global business leaders to get their views on the reform process and lowering of the growth target.

Here are the excerpts of Jeroen Bloemhard, China President of Dow Corning Great.

Jeroen Bloemhard

What impressed you the most about the annual Government Work Report released during the ongoing two sessions of China's top legislative and advisory bodies in Beijing? What do you think was the most important issue raised by the government in this report compared with the previous sessions?

China will foster "twin growth engines" by encouraging mass entrepreneurship and innovation, paired with increasing supplies of public goods and services. That will help create a pro-business environment which will heighten the confidence of the existing foreign investors.

The most eye-catching proposal, to revive the Silk Road trading routes, will likely bring new growth opportunities to China. These clear messages present the key changes of the government's strategy in managing the macro economy and deepened understanding on "the role of the market", which signals that China will transform its development model to a better-quality, more efficient and upgraded economy.

In the Government Work Report, Premier Li Keqiang said that the nation's economic growth rate would be adjusted to 7 percent. Do you think your company should adjust its development strategy in China?

Greater China has been and will continue to be one of the priority markets for Dow Corning's global operation and an engine for our future growth. Our business strategy is consistent with the Chinese government's priorities to realize sustainable and profitable growth.

Customers in industries such as electronics, healthcare, automotive, personal care and high-performance buildings, will continue to benefit from Dow Corning's silicone innovations. We are able to respond quickly to market changes by remaining close to our customers, understand their needs and deliver value to enable them to be successful.

Amid the global economic slowdown, especially in developed economies, and China's economic adjustment, what is your greatest concern about your company's operations in China?

The Work Report highlights governing by the rule of law, improving government efficiency, and eliminating rent-seeking opportunities through continued anti-corruption drive. These measures aim to facilitate better implementation of reform packages. We hope the "top-level designed" policy framework will be implemented evenly and equally at local level, thus, it can provide business community with certainty and clarity while operating in China.

We also value and have been looking forward to a level playing field created by the government at all levels and a streamlined administrative approval process as already evidenced by the great efforts of the central government. We believe these initiatives will inject vitality into the market and enable it to play a decisive role.

Which aspect of China's social and economic reforms should be improved in order to enhance the investment environment to attract more foreign companies?

Fighting against pollution has been reiterated and shifted to a higher level in this year's "Two Sessions". The Work Report, for the first time, integrated the environmental protection goals into the overall macro management goals and listed into the major development indicators of the social and economic developments.

As a company sticking to highest environmental standards and practices, we highly recognize the tremendous progress that the Chinese government has made on environmental protection and emission reduction, and also see the importance of consistent, equal and stringent supervisions and law enforcement to achieve the set goals, both to local and foreign players.

Do you think your company will develop faster in China than the previous year in terms of growth rate or market penetration?

Dow Corning started Greater China operations in 1973 in Hong Kong and we have invested US$2 billion in China in the past 40 years. This truly reflects our long-term commitment to the country. We are passionate to help our customers in China to succeed with our silicone products and solutions. We are confident that our customers will grow and therefore we are confident of our business growth in the region.