Core Viewpoint - BASF is optimistic about the Chinese market and plans to increase investment to deepen economic cooperation between Germany and China [3]. Group 1: BASF's Historical Engagement in China - BASF's collaboration with China began in 1885 through dye trade in Shanghai [3]. - The company accelerated its presence in China post-reform, establishing a subsidiary in Hong Kong in 1982 and a representative office in Beijing in 1986 [3]. - In 2000, BASF partnered with Sinopec to build the Nanjing Yangzi Petrochemical integrated base, one of the largest Sino-foreign joint ventures at that time [3]. Group 2: Major Investments and Projects - In 2018, BASF announced a €10 billion investment to construct the Zhanjiang integrated base, marking it as China's first wholly foreign-owned large-scale petrochemical project and BASF's largest single investment globally [4]. - The project milestones include signing a memorandum of understanding with the Zhanjiang government in 2018, commissioning the first engineering plastics modification and thermoplastic polyurethane facilities in 2022, and the completion of the TPU facility in 2024 [5]. - The Zhanjiang base will also see the commencement of a diol ether facility in March 2025, expected to meet the growing demand for brake fluids in the Asia-Pacific region [5]. Group 3: Strategic Layout in China - BASF has established a strategic layout in China centered around Shanghai (management headquarters and innovation hub), Nanjing (large integrated base), Chongqing (key production base), and Zhanjiang (future core growth engine) [6]. - The ongoing development of the Zhanjiang base's key facilities will enhance BASF's supply chain competitiveness in the Asia-Pacific market [6].