At a sprawling plant in Nanjing, engineers working for BASF are finalising ambitious plans. The site – a joint venture between the German chemicals manufacturer and Sinopec, the Chinese energy group – is set to receive $900m (€571m, £455m) in investment, a scheme intended to boost output by 25 per cent over the next three years. BASF hopes it will soon rival the huge production complex in Ludwigshafen as the focal point for its global operations.

But more than this, says Martin Brudermüller, head of BASF’s Asia activities, the Nanjing operation will aim to gain expertise in combining China’s famed low costs with the development of new design and production skills. If all goes to plan, this will involve importing ideas from BASF’s operations around the world and linking these with concepts developed by BASF’s 6,000-strong staff in China, including a team of 100 research and development engineers.