FRANKFURT, Feb. 25 (Xinhua) -- German chemical giant BASF Corp. said on Feb. 25 that it will continue to expand its production base in China and is confident in the development of the Chinese market.

　　Martin Brudermüller, chairman of BASF's executive board, told the media that China is an important global chemical market. BASF's fiscal year 2021 financial report showed that the company's sales revenue increased 33% over the previous year to 78.6 billion euros.

Translated with www.DeepL.com/Translator (free version)

BASF CFO Hans-Ulrich Engel said that BASF's integration site in Zhanjiang, China, is one of the company's main growth drivers. 2021 BASF's chemical production in China grows by 7.7 percent.

　　Brudermüller said that BASF achieved price and volume growth in all market segments in 2021. BASF's earnings growth was driven by its chemicals and materials business.

　　Founded in 1865, BASF is a large multinational chemical company headquartered in Ludwigshafen, Germany.

Translated with www.DeepL.com/Translator (free version)