Covestro welcomes German Chancellor at Asia-Pacific Innovation Center in Shanghai

Today, Covestro welcomed German Chancellor Olaf Scholz at the company’s Asia-Pacific Innovation Center in Shanghai, China. Here, Covestro develops future-oriented, sustainable products, technologies and solutions for dynamic markets such as electromobility, renewable energy, consumer electronics and construction. As one of Covestro’s three global innovation hubs, together with Leverkusen and Pittsburgh, the Shanghai location provides world-class support in research and development to customers around the world. With its research in high-tech plastics, the hub is a central cornerstone for supporting China’s green transformation and driving the visionary process towards a fully circular global economy. During the visit, which was part of Chancellor Scholz’s state trip to China, Covestro demonstrated its leading innovations in the circular economy and provided a platform to discuss chances of the Sino-German partnership. 

"We are deeply honored to welcome Chancellor Scholz and get the opportunity to highlight the potential of the chemical industry as well as Covestro to help drive sustainable change in China and the rest of the world,” said Chief Executive Officer Dr. Markus Steilemann. “Our decades-long presence in China epitomizes the spirit of Sino-German collaboration, which has been strongly beneficial for both sides. We count on the support of both governments in further catering for openness and mutual trust.” 

During the visit at the Asia-Pacific Innovation Center, the German delegation, comprising government officials, business leaders and media representatives, gained insight into Covestro’s manifold business activities in China. The center provides world-class support in research and development to customers around the world, particularly in dynamic markets such as electric vehicles, wind energy and photovoltaics, consumer electronics and construction. Through collaboration, the center also explores new business models and digital research and development. 

“Covestro remains deeply committed to China. We continuously strive to foster strong partnerships across the entire value chain”, said Holly Lei, President of Covestro China. ”By advocating for the circular economy and striving for climate neutrality, we support key industries and the country in their green transformation and high-quality development.” 

China stands as one of Covestro’s primary markets, with sales in 2023 accounting for over 20 percent of the group’s total and cumulative investments exceeding EUR 4 billion. In Shanghai, Covestro has established a regional headquarters housing, besides the Asia-Pacific innovation hub, the global headquarters of its Business Entity Engineering Plastics, as well as the regional headquarters of many other businesses and functions. Additionally, the city is home to Covestro Integrated Site Shanghai, the company’s largest production site.