Global chemical giant Evonik Industries is eyeing deeper investments in the Chinese mainland, capitalizing on the country's renewed commitment to openness announced at the Boao Forum for Asia. In an interview with CGTN, Claus Rettig, Evonik's Asia-Pacific president, highlighted China's stability and growth potential as key drivers for multinational firms seeking long-term partnerships.
"Market size, predictable resources, and development opportunities make China a priority," Rettig said, emphasizing the company's strategy to collaborate with local businesses for joint ventures. Analysts note such expansions align with China's latest reforms to streamline foreign investment approvals, particularly in advanced manufacturing and sustainability-driven sectors like electric vehicle components and renewable energy materials.
The development underscores broader confidence in Asia's largest economy, where overseas-funded industrial projects surged 10.6% year-on-year in Q1 2024. As the Boao Forum concludes, investors will monitor how China's policy framework evolves to nurture high-tech partnerships while balancing decarbonization goals.
