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Foreign chemical investment in China has ranked first in the world for three consecutive years

foreign chemical investment in China has ranked first in the world for three consecutive years

November 06, 2006

according to the latest statistical results of IBM factory layout international, which specializes in tracking world investment projects, China has attracted foreign direct investment (FDI) in the chemical and pharmaceutical industries for the third consecutive year. From 2003 to 2005, China's chemical and pharmaceutical industries attracted 24% of FDI; Among them, investment in production decreased, while investment in research and development doubled. IBM's monitoring also shows that the number of FDI projects identified by the global chemical and pharmaceutical industry has declined in these three years. The number of FDI projects in China was the largest in 2003, 275; It fell to 195 items in 2005. In the United States, the number of FDI projects also decreased from 153 in 2003 to 104 in 2005

from the situation of each region, the release of FDI in the chemical and pharmaceutical industries changed from 2003 to 2005. The developing markets in Asia, including China, India and Thailand, account for more than 1/3 of all FDI projects. From 2003 to 2005, China's production related FDI projects decreased by about 10%. In 2005, 6 of the total number of chemical FDI projects attracted by China were construction 0.3%. Relatively speaking, the number of R & D related FDI projects attracted by China has nearly doubled. Kevinswift, chief economist of the American Chemical Commission (ACC), believes that developing China is becoming a "world factory", and the long-term development prospect of the chemical industry is promising. China's chemical market size of 264billion US dollars/year is second only to the United States and Japan, ranking third in the world. In 2005, China became the third largest chemical producer, surpassing Germany's output value of 223billion US dollars

the China Chemical Industry Park, which China Petroleum and chemical industry association is committed to developing, plays an important role in increasing investment, attracting foreign investment, promoting industrial development, promoting technological upgrading, developing regional economy and improving management. China's large petrochemical enterprises plan to invest 20billion US dollars by 2010 to expand olefins and power supply to turn off the lights; Unplug the power socket derivative energy. The project is invested and constructed by Tangshan Zhonghao Chemical Co., Ltd. Dow Chemical, the world's leading chemical company, has planned to invest more than US $200 million to expand its epoxy resin business in China. Several joint ventures owned by China have also built factories or expanded production. A $4.3 billion petrochemical complex invested by shell and CNOOC in Daya Bay, Guangdong, has been put into operation, targeting the Guangdong market, which accounts for about 20% of China's chemical demand. The isocyanate joint venture between BASF and Huntsman, which invested US $1billion in Caojing, Shanghai, has also been put into operation

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