German firm looks to China to play greater role in global strategy

China has contributed 15 percent of Covestro's revenue and the German company aims to make the country play a greater role in its global strategy, said the chief financial officer on Wednesday.

From January to September this year, sales revenue generated from China account for 15 percent of the company's 9.3 billion euros in global sales, while the rest of the Asia-Pacific region makes up about 12 percent, said Frank H. Lutz of Covestro AG, a company spun off from German chemicals and pharmaceuticals giant Bayer.

In the past decade, Covestro has invested a total of 2.5 billion euros in China to increase its capacity and boost research and development in the local market.

Lutz said with such investment, Covestro expects China to contribute more to its global revenue in the future.

Covestro became an independent company in September and went public in October, listing on the Frankfurt bourse.

wang_ying@chinadaily.com.cn