Bernd Blumenberg is amused by the number of times in a working day he receives an army-style salute from the 400 security guards at the chemical complex he manages in China. There are probably five times as many guards as are really needed – but sacking some of them might cause local controversy, particularly with the state-owned company that is Mr Blumenberg’s joint venture partner.

As a result, Mr Blumenberg now enjoys a playful relationship with the security officers. “I always salute back,” says the 61-year-old German, who is president of a large joint venture in Nanjing between Germany’s BASF, the world’s biggest chemicals group, and Sinopec, a Chinese petrochemicals business.