U.S. materials science giant to firm up China presence

U.S. materials science giant Dow said it will stay committed to the Chinese market with steady investment and stronger partnerships to seize the opportunities brought by the country's shift to a greener and smarter economy.

"We are very bullish about the growth plans in China, and we believe that innovation in China is going to grow and benefit beyond our region as well," Dow Asia Pacific President Puay Koon Chia told Xinhua during the 7th China International Import Expo (CIIE).

This year marks the 45th anniversary of Dow's entry into China, the multinational firm's largest overseas market outside the United States. The company has built an extensive network in China to focus on the innovation, development and production of chemicals, plastics and advanced materials applied in sectors such as packaging, infrastructure, consumer care and new energy.

Puay Koon, who first came to China in 2000, said it's "exciting" to see how China has been transforming.

She noted that China's economy is shifting from rapid growth to high-quality development, citing growing customer demands for circular and low-carbon solutions. "The shift is really a game-changer."

Dow's response to the changing market is evident at its CIIE booth, which showcases a wide range of high-tech materials solutions for sustainability, such as a thermally conductive gel for electronics technology, which made its global debut at the event.

This was the second time Puay Koon attended the CIIE, which she called "a great platform for launching new technologies."

It was also the seventh time for Dow to participate in the expo, making the company a full-time CIIE attender. Over seven CIIE sessions, Dow has introduced some 90 new products and technologies via the platform and signed over 50 strategic partnership agreements.

"Sometimes a potential partnership comes from just a conversation," Puay Koon said. "This (CIIE) is where innovation is placed on the table, and you can have all the players across the value chain come together."

The company brought its most robust lineup and saw the most agreements signed at this year's CIIE since its initial presence in 2018.

It also set up a special exhibition area at the booth to showcase its fast expansion and landmark achievements in the Chinese market since 1979, such as the Shanghai Dow Center, the company's largest integrated R&D center outside the United States.

Despite a slowdown in headline GDP growth, Puay Koon said the opportunities and attractions of China are "definitely still very evident" thanks to a large and stable economy, efficient supply chains, a large skilled workforce and an innovation drive, among others.

In the past two decades, Dow invested in new production lines every 12 to 18 months at its manufacturing site in eastern Chinese city Zhangjiagang, and Puay Koon said the company will strive to keep up the expansion pace.

"Our dedication to China remains strong," Puay Koon said. "The country's vast market potential and improving business environment inspire our confidence in its future."