Visitors get to know information at Siemens's exhibition area during the fourth China International Supply Chain Expo in Beijing on June 23. ZHANG CHENLIN/XINHUA
For senior executives from multinational companies including Germany's Covestro AG and the United States' Boeing Co and Carrier Global Corp, June brought a steady stream of visits to China, where they unveiled expansion plans, launched new projects and participated in the fourth China International Supply Chain Expo in the world's second-largest economy.
Among them, Covestro made a major investment announcement in late June. The German chemicals producer will build a new methylene diphenyl diisocyanate production line with annual capacity of 660,000 metric tons at its integrated site in Shanghai. MDI is a synthetic chemical used primarily to manufacture polyurethane foams and coatings.
Holly Lei, senior vice-president of Covestro, said the investment, which coincides with the 25th anniversary of the groundbreaking of the group's Shanghai integrated site, reflects Covestro's confidence in China's integrated industrial ecosystem, innovation capabilities and deep talent pool, while strengthening long-term supply for customers in China and across the Asia-Pacific region.
