31 March 1997 00:00 [Source: ICB]
DuPont is to up its investment in China from $300m to $1bn by 2000, said DuPont president and chief executive officer, Jack Krol at a meeting in Washington, US.
Krol said the company is negotiating a number of joint ventures. China's State Council recently approved the first project proposal for a polymer joint venture in Shanghai and a similar decision is imminent for a fluoropolymer plant.
DuPont already has eight operational joint ventures in China in such developed economic areas as Shanghai, Guandong, Jiangsu, Shandong and Liaoning. Chinese sales grew by approximately 40% in 1996 and this year the company is aiming for growth of 25%.
Despite the positive words, Krol made it clear that DuPont would consider investing even more in China if it had a better and more favourable environment for intellectual property rights protection (IPR).
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