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Du Pond to Increase Investment in China
The US-based Du Pont Company has vowed to increase investment and expand its production scale in China to ensure a bigger share in the Chinese market.
China's expected entry into the World Trade Organization will bring Du Pont huge opportunities, and Du Pont will place more emphasis on promoting localization and the integration of its business operations in China into its global development strategy, said Charles Browne, president of Du Pont China.
Du Pont is set to build its business in China into a production base in the Asia-Pacific region, he said.
"Several new projects are under negotiation at the current stage, and we're considering adding investment in the joint ventures of Du Pont China to meet the increasing market demand," said Browne.
Much of Du Pont's new investment will be channeled into areas like agriculture, food, fiber and electronics fields, he said, adding that his company's investment in China had exceeded US$500 million by February this year.
Browne said that China is an important market for Du Pont in the Asia-Pacific region as its performance has a significant impact on the company's regional growth target of 20 percent in 2000.
Due to the price hike of petroleum and some raw materials on the global market, Du Pont's global business increased by only 5 percent in 2000, with the total trade volume hitting US$28.3 billion. "But our business in China grew by over 20 percent, exceeding the average growth rate in the Asia-Pacific region," Browne noted.
"To further implement Du Pont's global strategy in China, we will concentrate on reducing costs with the Six Sigma system, and step up personnel training," he said.
Up till now, Du Pont has set up five representative offices and 14 solely-owned businesses or joint ventures in China, with businesses covering chemical, food, agriculture, nutrition, electronics and textile fields.
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