German chemical giants continue to be optimistic about the Chinese market

German chemical giant BASF said on the 25th that it will continue to expand its production base in China and is confident in the development of the Chinese market
.

Martin Brudermüller, chairman of the executive board of BASF, told the media that China is an important chemical market in the world
.
BASF's 2021 financial report shows that the company's sales revenue increased by 33% over the previous year to 78.
6 billion euros
.

Hans-Ulrich Engel, Chief Financial Officer of BASF, said that BASF's integrated base in Zhanjiang, China is one of the company's main growth drivers
.
BASF's chemical production in China will increase by 7.
7% in 2021
.

In 2021, BASF will see price and volume growth in all segments, Brudermiller said
.
BASF's earnings growth was mainly driven by the chemicals and materials business
.

Founded in 1865, BASF is a large multinational chemical company headquartered in Ludwigshafen, Germany
.