China is the right place to stay and thrive for businesses, as the country's recent action plan to stabilize global investment has boosted confidence, said a Belgian investor who started doing business in south China's Dongguan City since 1998.
Headquartered in Belgium, the Dongguan-based factory, Plastiflex Hose Technology, has been mass-producing medical hoses tailored to global needs since then, leveraging the region's robust industrial chain and government support to drive its growth.
"We are in Dongguan since 1998. So, it's 27 years we are here. At that time, Guangdong was the only area open for foreign investment," said Gianluca Paolazzi, Operations Director Asia of Dongguan Plastiflex Hose Technology.
Over the past two decades, the factory has expanded from a single building to two sprawling facilities, growing from dozens to hundreds of employees. Paolazzi credits this success to Dongguan's robust industrial chain and unwavering government support.
"In this area, it's very easy to find any kind of product, any kind of supplier that can support our growth in the business," he said.
In February, China rolled out a new action plan to stabilize foreign investment, including measures to open the biomedicine sector. Central directives quickly translated into local incentives.
A one-time reward of 5 million yuan, or approximately 690,000 U.S. dollars, is offered by Dongguan to multinational companies with an annual increase of actual foreign investment of more than 72 million yuan, or 10 million U.S. dollars.
"In addition to ensuring national treatment and equal market access for foreign-invested enterprises, we will enforce fair competition rules and optimize administrative examination and approval services, to create a good business environment," said Ren Xiuyi, Director General of Economic Development Bureau of Changping Town.
"What we see and what we are more interested in this moment is to develop our local market. And this is getting very easy with the government policy, because its financing local development, it's financing automation that is going also to be a key factor for us in the next few years," said Paolazzi.
Despite global economic headwinds, Paolazzi emphasized that China's supportive policies and robust industrial environment make it the ideal place for businesses to not just survive, but thrive in the long term.
Belgian investor hails China as prime investment destination
