Giant's appetite satiated for now / 13th Five Year Plan calls for more competition, prosperity and environmental protection / State monopoly in petrochemical sector to be reduced / Chinese investments in Europe skyrocket

摘要

The opening of this year's "Chinaplas" is an appropriate time to reflect on developments in the country, whose chemical and petrochemical companies for years focused on supplying the rapidly growing domestic market with feedstocks. China's economic growth was accompanied by an almost insatiable demand for chemical products and plastics, used in cars and the E&E industry. But now that the industrial sector is no longer posting double-digit rises, the government has started looking at new ways of driving growth. Aside from the domestic market, they are found in foreign investments and the acquisition of know-how. One recent example of China's stronger foreign engagement has been the purchase of KraussMaffei by China National Chemical Corporation (ChemChina, Beijing / China; www.chemchina.com.cn).