China Consolidation to Continue as Western Majors Eye Investment

The Chinese government is pressuring the country’s state-owned chemical sector to consolidate, in a bid to improve competitiveness, speakers told delegates at CW’s 13th annual China Chemical Industry (ChinaChem) conference in Shanghai. “There are too many small and medium-size chemical enterprises in China,” says Fan Xiaosen, v.p. at China National Chemical Industry Corp. (Beijing). Engel: Expanding via organic growth. The average annual sales of China’s top-100 chemical companies is just Rmb27.7 billion ($3.7 billion), compared with...

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