CHINAPLAS showcases plenty of cost-effective solutions that meet the needs of emerging markets in Asia. Image courtesy of Adsale
China rises as a popular regional headquarter location
The global appeal of China’s enormous market is self-evident. The nation continues to see an advancement of urbanization, the release of purchasing power of non-tier 1 cities, a thriving digital economy, leading 5G and blockchain technology, and connected mobility. The sheer size of its domestic market volume, booming exports, and strong investment are driving China’s economy on a high-quality growth path.
In spite of the global economic slowdown, foreign-invested enterprises in China remain optimistic about the Chinese market and continue to invest in these critical times. China is the world’s largest producer and consumer of chemicals. There is no slowdown in the investment of foreign plastics machinery and materials suppliers, who are increasingly setting up regional headquarters, production bases, and/or R&D centers in China. German chemical giant BASF is investing a total of $10 billion in an integrated production base in Guangdong. It is also building a brand new innovation park in Shanghai and a comprehensive surface treatment site in Zhejiang. ExxonMobil, Lanxess, Solvay, Dow Chemical, Shell, Saudi, Saudi Aramco, and many more well-known multinational companies are also expanding their investment in China with major petrochemical projects via joint venture or sole proprietorship.