Japanese chemical giant invests in sharing service center in SND

Suzhou New District and Mitsubishi Chemical (China) Co sign an agreement on a new sharing service center on July 1. [Photo/WeChat account: snd-szgxqfb]

Suzhou New District and Mitsubishi Chemical (China) Co, a world leading chemical enterprise, signed an agreement on July 1 to set up a sharing service center in the district, local media outlets reported.

It was the latest project invested in by Mitsubishi Chemical in SND after three other companies with respective focuses on polyester film, functional plastics, and acid gas.

The new project's initial plan is to carry out the intensive management of businesses of Mitsubishi Chemical's 22 subordinate companies. More intensive management will be realized through the application of digitalization and artificial intelligence technologies.

Mitsubishi Chemical is a global top 500 multinational conglomerate involved in chemicals, healthcare and industrial gas. It generated a total of $36 billion in sales revenue in 2021.

In recent years, SND has continued to make progress in becoming a hub for Japanese investment. Statistics show that the district is currently home to 664 Japanese-invested enterprises, accounting for one third of all foreign-funded enterprises in the district and including 17 of the world's top 500 enterprises.