Retaining Confidence

When German chemical giant BASF started its $10-billion petrochemical project in south China in November 2019, it made news as the smart Verbund project was the first large petrochemical project in China solely owned by foreign investors. The company came into the spotlight again recently, being one of the early birds among the foreign-funded enterprises in the country to resume work after a hiatus due to the novel coronavirus.

According to Stephan Kothrade, President and Chairman of BASF Greater China, production resumed in early February after the extended Chinese New Year holiday ended. Strict health protection measures have been adopted in its offices and factories, and wherever possible, employees are being asked to work from home.

Kothrade said the Chinese market remains appealing despite.