01 June 1995 00:00 [Source: APC]
Since our last detailed look at the Chinese chemicals industry 12 months ago, the mainland economy has grown by 12%, foreign trade by 30%, and output of chemicals by 11%. Joint ventures between Chinese and overseas companies now produce a full range of chemical intermediates and finished products.
No-one denies that there are problems involved in doing business with China. After a decade of spectacular economic progress calls for more reform have grown fainter. Unease over high inflation and labour unrest are growing and on top of this, an ailing leader poses the question of how smooth the transition will be to a new leadership. Despite all, most large chemical companies have now accepted the case that they need a presence in China, and many second liners are being persuaded too.
Our special supplement describes 'the changing face of China' and, in conjunction with A-PC's China Chemicals Markets '95 Conference to be held in Beijing this month, aims to provide chemical industry executives with a snap shot of where China is now and which direction it is heading.
The economic overview looks in detail at the problems posed by high inflation, slower growth, and increasing competition from other emerging tiger economies. The debate about whether China needs more or less reform is discussed, and we profile Shanghai, arguably China's most important industrial city in terms of its chemical industry. Other articles examine the status of China's petrochemical sector, where the deficit in most key products is expected to continue into the next century, and the speciality and fine chemical sector, which is riding a boom created by the surge in construction and manufacturing activity on the mainland.
China's trading stance, in particular its position on intellectual property rights, is described, as is the increasing role of China in the economies of Taiwan and Hong Kong. India is emerging as China's main rival as the premier investment location in The Asia-Pacific, and the two are sized up in a separate feature. Finally, we list the latest project announcements in China's specialities sector.
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