Brazil-headquartered market pulp giant Suzano said that China's huge market, vibrant innovation ecosystem and the development of new quality productive forces are creating shared growth for global companies.
"In line with China's solid economic fundamentals, our business in China in the first five months of this year had been showing strong results," Pablo Machado, business management president of Suzano Asia, told Xinhua in an interview.
Celebrating its centennial this year, Suzano has been in the Chinese market since the 1980s, witnessing the country's steady rise to its largest export market, which accounts for roughly 40 percent of the company's total global exports.
"In the past four decades, we've witnessed impressive high-speed economic growth in China as well as galloping market growth in our industry," said Machado. The company's sales of market pulp in China surged from about 20,000 tonnes to over 5 million tonnes during the period.
He observed that since the country's reform and opening up, China has not only experienced rapid growth but also modernized its economy by investing heavily in research and development, giving rise to a strong innovation ecosystem.
To leverage innovation to enhance sustainable development, Suzano last year set up the Asia Innovability Hub in Shanghai to address customers' evolving needs for pulp and new bio-based materials and applications.
"We realized that we would be missing a great opportunity if we were not present in China and learning with China's innovation ecosystem," he said, adding that China's innovation ecosystem allows them to not only promote their own research and development in China but also benefit from local advancements and apply them to operations in other regions.
Machado, who first visited China in 2004, said he has been impressed by the tremendous changes brought by various reforms in the country. "Each time I returned, I was astounded by the speed of development, not just economically but also in terms of improving people's living standards."
As an executive of a foreign company operating in China, he is particularly glad to see the government's continuous efforts to develop a more inclusive and open business environment.
"The Chinese government is very professional in attracting investment and has provided great support to us in terms of facilitation, openness and subsidies. This gives us confidence to invest and make plans for growth and future development," he said.
Machado believes that the recent focus on developing new quality productive forces in China is a natural transition for the Chinese economy.
"When a country is small, it can grow fast, but as it becomes larger, it is impossible to maintain the same speed. China has recognized this and has transitioned from high-speed growth to high-quality development, which is a pathway towards the new productive forces," he noted.
Machado said Suzano, as a company known for expertise in growing trees and understanding the science behind them, believes that bio-based materials can play a crucial role in the country's transition to a low-carbon economy, a key part of developing the new productive forces.
"This is the way we have set up our strategy in China, always paying close attention to the country's development model and how we can serve and benefit from the policies," Machado said.