Interview: Committed to China market, Dow looks for new investment opportunity

0 Comment(s)Print E-mail Xinhua, September 10, 2019
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BEIJING, Sept. 10 (Xinhua) -- Although lingering trade frictions weigh on market demand in China, U.S. materials science giant Dow remains committed to the China market, which it expects to grow into the world's largest consumer market.

"We must be successful here in order to maintain our global competitiveness," Lim Yoke Loon, Dow's greater China president, said in an interview with Xinhua.

China is a strategic market, a manufacturing and innovation hub for Dow and an important part of the international supply chain of Dow, and "we are here for the long run," Lim said.

Operating in China for the past four decades, Dow has been able to take advantage of the country's rapid growth and deepen its presence, he said.

China is Dow's second-largest market, where the company owns nine manufacturing sites and about 3,200 employees, and supplies a wide range of products, technologies and services.

Acknowledging the vast talent resources and seeking to further tap into the market, Dow in 2009 opened the Shanghai Dow Center, its largest integrated R&D center outside the United States, which innovates not only for China, but also the Asia-Pacific region and other parts of the world.

More than 20 new labs were moved to the center last year to facilitate growing needs from downstream businesses like consumer care, auto and electronics, Lim said.

The company continues to invest in the country to boost R&D and high-value manufacturing capacity. "We keep looking for new investment opportunities in China to better serve the market," he said.

In June, Dow broke ground for a new specialty silicone resin line in Zhangjiagang, the third new line it has invested in over the past three years, to meet growing needs for high-performance materials from sectors including transportation, home and personal care and consumer electronics.

With China calibrating its growth strategy to increase people's living standards and social benefits, Dow will benefit as the government's long-term strategies will ensure sustainable growth and prosperity of the market, he said.

In the short run, however, Lim said affected by the trade frictions, slow business activity from key downstream markets such as auto and household appliances had impacted the market demand for materials since later last year.

The Chinese government is taking policy actions to mitigate domestic and external headwinds, such as tax-cutting and other fiscal stimuli, while the country's domestic market is large enough to withstand external headwinds, he said. Enditem

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