At the end of the year and the beginning of the year, more than 10 chemical companies such as BASF, Bayer, Celanese, LANXESS and Ashland had reported news of capital increase in China at the start of the 12th Five-Year Plan. Compared with the first wave of investment in the large-scale entry of foreign companies in the Chemical Industry Park at the beginning of this century, the characteristics of this round of investment are expansion on existing bases, expansion of production capacity, extension of downstream industrial chains, or establishment of technical services. The center, as well as based on the eastern base, expanded to the western region.
Commitment to long-term development strategy in China China has become the fastest growing country in the world economy. When many foreign companies assess China's future market, they believe that China has entered a new period of transition and structural adjustment. Measures such as expanding domestic demand, urbanization, and energy conservation and emission reduction will provide the market with huge business opportunities. Therefore, multinational corporations have promised to devote themselves to long-term development in China and put forward strategic implementation plans.
Two years ago, BASF developed the "BASF Asia-Pacific Strategy 2020" and proposed that the sales revenue in the Asia-Pacific region will double by the end of 2008 and 70% of the products will come from local production. To achieve its goals, BASF plans to invest approximately 1.4 billion euros in Asia by 2014, with a focus on China. Over the past year or so, BASF has increased its investment in China. In December 2010, BASF announced that it spent about 55 million euros for the expansion of Shanghai's Pudong production base, including the new Innovation and Technology Park and BASF’s Greater China headquarters building. BASF also plans to build a world-class 400,000 metric tons of diphenylmethane diisocyanate (MDI) production base in Chongqing by 2015.
LANXESS also implemented a "dual-track growth" strategy for organic growth and external growth in China. In the past two years, LANXESS has acquired Jinzhuo Chemicals and Polyol Chemicals in China. In May 2009, it completed the second phase of its Qingdao High Performance Rubber R&D Center. In April 2010, LANXESS announced the expansion of its plastic composite plant capacity in Wuxi production base; in September, LANXESS-Taizhou Rubber Co., Ltd., which annually produced 30,000 tons of nitrile rubber, started construction in Nantong; in December, it announced that it will invest 40 million yuan. The U.S. dollar has a new leather chemical plant with an annual capacity of 50,000 tons in Changzhou. LANXESS stated that it plans to achieve an 80% increase in the company's main profit indicators by 2015, and China is one of LANXESS's globally important markets to achieve this goal.
Integration into the environment for industrial transformation and upgrading In 2010, the operating situation of multinational corporations in China has improved markedly, and production and exports have recovered well and have grown substantially. At the same time, the fast-growing Chinese economy is adjusting its structure and striving to develop new and high-tech industries. The huge potential of emerging markets has enhanced the confidence of foreign investors in long-term development in China.
In the new round of investment, foreign investors mainly adopt the method of capital increase and production expansion. According to Shang Yuying, deputy director of the Shanghai Economic and Information Commission, combined with the analysis of Shanghai: “At present, foreign investors must develop in Shanghai, and it is difficult to rely on new land, but foreign companies that have taken root in Shanghai are now investing in Shanghai’s industrial transformation and upgrading through additional investment. In 2010, such capital increase has accounted for more than 60% of the city's foreign investment in industrial investment."
In 2001, Bayer invested more than 2 billion euros in the construction of an integrated base in the Shanghai Chemical Industry Park, forming a world-scale production of MDI, toluene diisocyanate (TDI) and polycarbonate raw materials. In December last year, Bayer announced in Shanghai that it plans to substantially expand its high-level materials production capacity in China by 2016, and will continue to invest approximately 1 billion euros in Bayer Shanghai base, which will more than double MDI capacity to 1 million tons/year. In 2011, the company expanded its production of high-performance polycarbonate to an annual production capacity of 500,000 tons. The global headquarters of the polycarbonate business will move from Germany to Shanghai. These projects mean that Bayer will use the expansion of the original production base and use less investment and resources to more than double its production capacity. The chairman of the Bayer Group's Board of Directors, Markin Deck, stated that the company's goal is: "Over the next five years, we hope that Bayer's sales in Greater China will increase to about 5 billion euros."
Invista's "second venture" in China also depends mainly on expansion. In response to the sharp increase in market demand for high-quality spandex fibers, INVISTA has increased its investment in its joint venture in Guangdong by 99.6 million U.S. dollars and increased its Foshan Spandex factory capacity. Production will be doubled on the original basis. It plans to start production this year and will become the world's largest spandex. factory. At the same time, INVISTA also expanded the Shanghai Qingpu Fiber Plant to double the capacity of the plant by 2013. Celanese also announced that it will build a new facility at its base in Nanjing, China, and use newly developed advanced technologies to produce industrial ethanol from raw materials such as coal and natural gas.
Expanding Downstream to Strengthen R&D Services Another feature of the new round of investment is: further close to the market, the development of high-end and special-purpose products in the middle and lower reaches of the industrial chain, as well as the expansion of R&D centers and the establishment of customer technical service networks.
Downstream investment will create greater value. BASF and Sinopec's Yamba expansion project mainly produces downstream chemical intermediates and specialty chemicals for various industries such as agriculture, construction, electronics, pharmaceuticals, automotive and chemical manufacturing. BASF built a 100,000-ton dispersion plant in Huizhou, Guangdong Province to produce carboxylated styrene-butadiene (XSB) latex for the paper industry. Recently, Bayer MaterialScience announced that it has reserved 110 million euros to build five customer supporting facilities in Shanghai, Chongqing and three other cities to strengthen customized production and deep processing.
In addition, world-class R&D centers have also settled in China. There are 317 foreign R&D centers in Shanghai. The Dow Corning Center, which invested hundreds of millions of U.S. dollars, was opened in 2009; the Dow Corning China Business Technology Center opened in Shanghai Zhangjiang Hi-tech Park in December 2010; BASF Asia Pacific Innovation and Technology Park laid the foundation in Pudong, Shanghai at the end of last year; Celanese also The construction of the Business Technology Center and Asia Regional Headquarters in Zhangjiang, Shanghai was officially launched in January this year.
Commitment to long-term development strategy in China China has become the fastest growing country in the world economy. When many foreign companies assess China's future market, they believe that China has entered a new period of transition and structural adjustment. Measures such as expanding domestic demand, urbanization, and energy conservation and emission reduction will provide the market with huge business opportunities. Therefore, multinational corporations have promised to devote themselves to long-term development in China and put forward strategic implementation plans.
Two years ago, BASF developed the "BASF Asia-Pacific Strategy 2020" and proposed that the sales revenue in the Asia-Pacific region will double by the end of 2008 and 70% of the products will come from local production. To achieve its goals, BASF plans to invest approximately 1.4 billion euros in Asia by 2014, with a focus on China. Over the past year or so, BASF has increased its investment in China. In December 2010, BASF announced that it spent about 55 million euros for the expansion of Shanghai's Pudong production base, including the new Innovation and Technology Park and BASF’s Greater China headquarters building. BASF also plans to build a world-class 400,000 metric tons of diphenylmethane diisocyanate (MDI) production base in Chongqing by 2015.
LANXESS also implemented a "dual-track growth" strategy for organic growth and external growth in China. In the past two years, LANXESS has acquired Jinzhuo Chemicals and Polyol Chemicals in China. In May 2009, it completed the second phase of its Qingdao High Performance Rubber R&D Center. In April 2010, LANXESS announced the expansion of its plastic composite plant capacity in Wuxi production base; in September, LANXESS-Taizhou Rubber Co., Ltd., which annually produced 30,000 tons of nitrile rubber, started construction in Nantong; in December, it announced that it will invest 40 million yuan. The U.S. dollar has a new leather chemical plant with an annual capacity of 50,000 tons in Changzhou. LANXESS stated that it plans to achieve an 80% increase in the company's main profit indicators by 2015, and China is one of LANXESS's globally important markets to achieve this goal.
Integration into the environment for industrial transformation and upgrading In 2010, the operating situation of multinational corporations in China has improved markedly, and production and exports have recovered well and have grown substantially. At the same time, the fast-growing Chinese economy is adjusting its structure and striving to develop new and high-tech industries. The huge potential of emerging markets has enhanced the confidence of foreign investors in long-term development in China.
In the new round of investment, foreign investors mainly adopt the method of capital increase and production expansion. According to Shang Yuying, deputy director of the Shanghai Economic and Information Commission, combined with the analysis of Shanghai: “At present, foreign investors must develop in Shanghai, and it is difficult to rely on new land, but foreign companies that have taken root in Shanghai are now investing in Shanghai’s industrial transformation and upgrading through additional investment. In 2010, such capital increase has accounted for more than 60% of the city's foreign investment in industrial investment."
In 2001, Bayer invested more than 2 billion euros in the construction of an integrated base in the Shanghai Chemical Industry Park, forming a world-scale production of MDI, toluene diisocyanate (TDI) and polycarbonate raw materials. In December last year, Bayer announced in Shanghai that it plans to substantially expand its high-level materials production capacity in China by 2016, and will continue to invest approximately 1 billion euros in Bayer Shanghai base, which will more than double MDI capacity to 1 million tons/year. In 2011, the company expanded its production of high-performance polycarbonate to an annual production capacity of 500,000 tons. The global headquarters of the polycarbonate business will move from Germany to Shanghai. These projects mean that Bayer will use the expansion of the original production base and use less investment and resources to more than double its production capacity. The chairman of the Bayer Group's Board of Directors, Markin Deck, stated that the company's goal is: "Over the next five years, we hope that Bayer's sales in Greater China will increase to about 5 billion euros."
Invista's "second venture" in China also depends mainly on expansion. In response to the sharp increase in market demand for high-quality spandex fibers, INVISTA has increased its investment in its joint venture in Guangdong by 99.6 million U.S. dollars and increased its Foshan Spandex factory capacity. Production will be doubled on the original basis. It plans to start production this year and will become the world's largest spandex. factory. At the same time, INVISTA also expanded the Shanghai Qingpu Fiber Plant to double the capacity of the plant by 2013. Celanese also announced that it will build a new facility at its base in Nanjing, China, and use newly developed advanced technologies to produce industrial ethanol from raw materials such as coal and natural gas.
Expanding Downstream to Strengthen R&D Services Another feature of the new round of investment is: further close to the market, the development of high-end and special-purpose products in the middle and lower reaches of the industrial chain, as well as the expansion of R&D centers and the establishment of customer technical service networks.
Downstream investment will create greater value. BASF and Sinopec's Yamba expansion project mainly produces downstream chemical intermediates and specialty chemicals for various industries such as agriculture, construction, electronics, pharmaceuticals, automotive and chemical manufacturing. BASF built a 100,000-ton dispersion plant in Huizhou, Guangdong Province to produce carboxylated styrene-butadiene (XSB) latex for the paper industry. Recently, Bayer MaterialScience announced that it has reserved 110 million euros to build five customer supporting facilities in Shanghai, Chongqing and three other cities to strengthen customized production and deep processing.
In addition, world-class R&D centers have also settled in China. There are 317 foreign R&D centers in Shanghai. The Dow Corning Center, which invested hundreds of millions of U.S. dollars, was opened in 2009; the Dow Corning China Business Technology Center opened in Shanghai Zhangjiang Hi-tech Park in December 2010; BASF Asia Pacific Innovation and Technology Park laid the foundation in Pudong, Shanghai at the end of last year; Celanese also The construction of the Business Technology Center and Asia Regional Headquarters in Zhangjiang, Shanghai was officially launched in January this year.
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