Shanghai becomes one of BASFs global innovation bases

BASF recently injected €1 million into R&D center in Shanghai, which helped the city become one of BASF’s global innovation bases, with focuses on personal care, pharmaceuticals and beverages, sources said.

The newly established R&D centre is designed to meet China’s growing demand and develop more suitable products and technologies for Asia consumers. The center will also explore Chinese traditional medicine, speed up the capsule and tablet production, and develop new functional beverages for 2008 Beijing Olympic Games.

According to BASF’s forecasts, cosmetics sales will maintain double-digit growth in the next few years in Asian market, particularly in relation to the booming Chinese market, and pharmaceutical sales will exceed US$ 30 billion in 2010. In fact, annual growth rate of China's beverage industry has been more than 10% in recent years.

BASF is the global largest chemical company. As early as 1982, it has established its branch in Hong Kong, principally engaged in sales business in China.