Quotable

Anbang's explosive growth was primarily led by its aggressive investment activity, dominated by acquisitions in overseas insurance markets, as well as in the property and hotel sectors."

Wang Guojun, Insurance professor at the University of International Business and Economics in Beijing. Anbang Insurance Group, a little-known Chinese insurer several years ago, has transformed itself into a formidable player both at home and abroad, as the group's net profit and total assets ballooned last year.

"The economic climate now is tougher than the global financial crisis in 2008. Chinese manufacturers are facing fiercer competition not only in terms of price but product design. ... To survive, we must provide something new to fill a niche."

Steven Hu, Sales director of Vcom International Ltd, a manufacturer of electric cables based in Guangzhou. Hu was at the Canton Fair, which ended on May 5 and is known as the biggest and oldest trade show in China. It attracted around 25,000 exhibitors, mostly small and medium-sized Chinese manufacturers, this year.

"It is very exciting, as it is the biggest-ever single polyurethane component. So developing that technology locally is very important."

Patrick Thomas, CEO of German plastics and chemicals giant Covestro AG, which has expanded the scope of its research center in Shanghai. An example of its work is the windmill blades that Covestro has helped make in China. The company has managed to produce a windmill blade up to 50 meters long with one single liquid injection. The country is now the largest single source of windmill blades in the world.

(China Daily Africa Weekly 05/06/2016 page24)