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Chemical execs forecast expansion
By Richard Fu |
September 20, 2012, Thursday
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Print Edition
Print Edition
MORE than 60 percent of senior executives in leading global chemical companies forecast China's chemicals industry will expand as they indicate that the country is their top investment choice, according to a latest KPMG survey.
In the survey, 63 percent of the 156 senior chemical executives in the US, Europe and Asia-Pacific said they plan to increase capital spending over the next year, KMPG said in a release yesterday.
For the second consecutive year, Asian executives were the most bullish about capital spending, with 81 percent seeing an increase, versus 48 percent in the US and 58 percent in Europe.
"We see continuing opportunities for China's chemicals market, despite the global economic slowdown," said Norbert Meyring, KPMG's chemical sector head for China and Asia-Pacific.
"However, the sector is also set to face some challenges, such as a potential shortage of resources, as China shifts from a large industrial country to a sustainable model."
In the survey, 63 percent of the 156 senior chemical executives in the US, Europe and Asia-Pacific said they plan to increase capital spending over the next year, KMPG said in a release yesterday.
For the second consecutive year, Asian executives were the most bullish about capital spending, with 81 percent seeing an increase, versus 48 percent in the US and 58 percent in Europe.
"We see continuing opportunities for China's chemicals market, despite the global economic slowdown," said Norbert Meyring, KPMG's chemical sector head for China and Asia-Pacific.
"However, the sector is also set to face some challenges, such as a potential shortage of resources, as China shifts from a large industrial country to a sustainable model."
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