Technical edge offers key to innovative solutions

How has the ongoing supply-side reform changed the nation's economic growth and your company's business in China?

We are optimistic about the direction the Chinese government is driving its economy. SABIC is in a strong position to collaborate with Chinese customers and partners to create innovative solutions tailored for the Chinese market across the entire value chain, including key industries like packaging, automobiles, construction and consumer electronics.

We are at the heart of China's economic transformation. China is a key driver of SABIC's growth strategy with sustained investment in Asia and globally. We are proactively responding to China's call to achieve quality growth through our differentiated material solutions and continuous investment in China, notably the recent investment MoU with Fujian provincial government for a world-scale petrochemical project and excellent progress with Sinopec toward working on new investment in our existing joint venture Sinopec SABIC Tianjin Petrochemical Co Ltd - running a world-class petrochemical complex in Tianjin.

What's your view of China's policy on foreign enterprises and foreign investment? How can the country further improve its business environment for foreign investors?

Easing market entry in China is vital if foreign-funded enterprises are to operate in more sectors. By increasing the efficiency of its services and cutting red tape, notably the advance on the legislation of Foreign Investment Law, it is expected that China's foreign investment environment will be vastly improved. Foreign investors' rights will be better secured, enhancing cross-regional collaboration. As further reform and opening-up measures roll out, we expect to see a dramatic increase in prosperity for the Chinese market and renewed interest in investment from foreign enterprises.

How has innovation changed China's economic development and your company's business in China?

China is currently transitioning to an innovation driven model, moving further up the value chain and aiming for higher innovation and quality. As a growth partner for China, this has been positive for SABIC.

China is a key platform for SABIC's future growth, from differentiated products to R&D. SABIC sees technology and innovation as an important element in realizing our 2025 strategy, we continue to invest in research that will strengthen SABIC's competitive position, optimize feedstock utilization, and reduce costs.

We have the SABIC Technology Center Shanghai, which opened in 2013, focusing on developing next-generation innovative technologies and solutions to help our customers address some of the most pressing issues in China and the region across major industry sectors. We also have a strategic partnership with the Chinese Academy of Sciences and the Dalian Institute of Chemical Physics, highlighting our commitment to continuous open innovation, helping to advance the betterment of society and modern living in China.