Basf(US:BASFY) Ren Min Ri Bao·2025-08-18 23:17Group 1: Core Insights - BASF is collaborating with local companies to develop next-generation solid-state battery technology and strengthen partnerships in the automotive coatings sector [1][6] - The company has been operating in China for 140 years, establishing a strong presence and expanding its business footprint significantly since the reform and opening-up [2][3] - By the end of 2024, BASF plans to have built 30 production sites in China, with sales in the Chinese market accounting for over 13% of its global sales [3][4] Group 2: Investment and Development - BASF's largest overseas investment project, the Zhanjiang integrated base, has a total investment of approximately €10 billion and is set to become the company's third-largest production site globally [4][5] - The Zhanjiang base will include a steam cracking unit with an annual capacity of 1 million tons of ethylene and several downstream production facilities [4][5] - The company has invested around €280 million in the Shanghai Innovation Park over the past decade, focusing on sustainable development innovations [3][6] Group 3: Research and Innovation - BASF is increasing its R&D investment in China, particularly in fast-growing sectors such as new energy vehicles and high-end manufacturing [6][7] - The company has established the Asia Open Research Network to facilitate collaboration between its researchers and academic institutions, completing around 200 joint research projects [7] - BASF aims to enhance local innovation capabilities and meet the evolving demands of the Chinese market through strategic partnerships and talent development [6][7]