BAYER AG's sales in China amounted to 1.8 billion euros (US$2.76 billion) last year, representing a currency-adjusted increase of 30 percent, the German chemicals and drugs company said.
Chief Executive Officer Werner Wenning cited the fast-rising demand from the crop protection market, the electrical and electronics sector, and the furniture industry in China as the key growth drivers for the whole group.
Looking into 2008, Bayer anticipates the expansion in the pharmaceuticals market will trend slightly slower but double-digit growth will still be seen in countries like China, Brazil and Mexico.
Bayer aims to bring the second phase of its world-scale polycarbonate facility in Shanghai on stream by the end of this year if demand rises sufficiently, Wenning said.