"BASF is fully confident in participating in China's future development." On November 10, BASF, the German chemical industry leader, told reporters from Beike Finance that relying on its competitive technological advantages and market position in the Chinese market, the company will further develop its local business in China.
According to CCTV, German Chancellor Scholz arrived in Beijing on November 4 for an official visit to China. He was accompanied by senior executives from German companies, including the CEO of BASF Group.
During this visit, Scholz stated that globalization brings wealth and prosperity, and German-Chinese cooperation is fruitful. Open and honest communication between the two sides is very beneficial, and this partnership should be maintained. Germany is willing to strengthen equal and mutually beneficial cooperation with China, provide a fair market environment for entrepreneurs from both countries to operate in each other's countries, and allow both sides to benefit from it.
"BASF's connection with the Greater China market dates back to 1885, boasting a history of 137 years. Since then, BASF has been a loyal partner in China." On November 10, BASF told Beike Finance that as an important foreign-invested enterprise in China's chemical industry, BASF has always been active in the Chinese market. BASF's main production bases are located in Shanghai, Nanjing, and Chongqing, with Shanghai Innovation Park serving as BASF's R&D hub globally and in the Asia-Pacific region. In 2021, BASF's sales to customers in the Greater China region amounted to approximately 12 billion euros, with a workforce of 11,070 by the end of the year.
BASF stated that China is the world's largest chemical market, and investing in China aligns with BASF's strategy of producing close to customers. Through its production bases in China, the company provides solutions for the growing Chinese market and customers. Currently, China accounts for approximately 45% of the global chemical market. By 2030, China is expected to account for half of the global chemical market, and more than two-thirds of the growth in global chemical production will come from China.
"BASF is fully confident in participating in China's future development." BASF stated that developing local business in China holds significant strategic and economic value, and will further enhance the company's regional diversification.