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Article: Checking in with China's chemical industry: valuable insight from the 12th Annual China Chemical Industry Conference.
- Article from:
- Canadian Chemical News
- Article date:
- March 1, 2007
- Author:
CopyrightCOPYRIGHT 2007 Chemical Institute of Canada. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The attraction for global companies to invest in China cannot be denied. China is already a large market for chemical products, with very strong growth projections into the future. There is also an economic driver for these investments, with production costs that cannot be matched in most other regions of the world.
I attended the 12th Annual China Chemical Industry Conference, organized by Chemical Week in Shanghai in mid-September 2006. There were 280 delegates including 100 from Chinese companies. Based on my assessment, this cost differential can only narrow in the coming years due to three main factors. Labour costs are already growing quickly in China. As ...