Global Opportunities for the Chinese Chemical Industry
China is the second largest economy in the world, and the economy expected to grow at 6.5 percent annually, contributing to around 25 percent of global economic growth. However, compared with global enterprises' total investment in China, Chinese enterprises' overseas investment is still low. Therefore, to better integrate into global economy, we need more domestic enterprises to invest overseas and become globalized. As for the chemical industry, Chinese chemical enterprises need to fully consider two key areas of globalization: firstly, they need to develop tailored strategic objectives, e.g., optimize raw material supply, expand sales channels, improve technologies, strengthen brands. Secondly, they need to make investments in overseas areas or enterprises that linked with the Chinese economy or market to capture higher synergies and improve China’s self-sufficiency of high-end products.
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