Editor's Note: As China launches its 15th Five-Year Plan (2026-30), policymakers are strengthening coordination between the "Export to China" and "Shopping in China" campaigns. The effort signals a clear commitment to expanding imports while promoting high-quality consumption. To explore what this means for global business, we invited Michael Doogue, president and CEO of Allegro Microsystems, to share his views on the opportunities in China's vast market, the role of the company's China operations in global strategy, and its outlook for the years ahead.

Q1 China's GDP grew 5 percent in 2025, reaching 140.19 trillion yuan ($20.29 trillion). For 2026, the government targets growth of between 4.5 percent and 5 percent, with a planned deficit ratio of around 4 percent. How do you assess the credibility and policies backing this target? Amid moderating global demand, what does China's relative growth certainty mean for your company's global capital allocation, earnings outlook and investor expectations? Does the combination of proactive fiscal policies and accommodative monetary measures reinforce your confidence in sustaining or expanding operations in China?

Michael Doogue: China's commitment to high-standard opening-up and industrial upgrading provides a vital policy assurance for global technology companies. The 2026 GDP growth target of 4.5 percent to 5 percent, supported by a more proactive fiscal policy and an appropriately accommodative monetary policy, demonstrates the Chinese government's resolve and capability to advance high-quality development. These measures provide a solid macroeconomic foundation for strategic sectors such as electric vehicles, AI, energy infrastructure, robotics and industrial automation — all of which are central to Allegro's long-term growth strategy. These positive policy signals have further strengthened our confidence in deepening our presence in China. We will continue to invest in local technical and sales support, expand R&D collaboration, optimize our local supply chain, and align the development of our global product and technology portfolio with the pace of China's industrial upgrading.