What to consider when expanding R&D in China as a multinational chemical company
Despite China’s growth as a player in the global market, the market share of foreign-owned chemical companies in China has been on the decline. With increasing competition from local players, multinationals must focus more on their exploratory chemical R&D.
But there are many considerations, from deciding which R&D activities to focus on to understanding what resources will be needed, to take into account first.
This article suggests a three-step process for expanding chemical R&D in China:
- Establish a knowledge base by learning about the R&D and competitive landscape, regulations and subsidies, and about China’s political goals and its academic R&D.
- Select the R&D area to focus on, considering which markets in China are driven by demand and/or innovation, which areas of China’s chemical industry have especially tight regulations, etc.
- Establish R&D facilities in a city or province, taking into account factors like availability of both expats and qualified local staff.
Please fill in the form to read more about the recommended three step process.