As one of China's cornerstone industries, the chemicals industry accounts for approximately 10% of China's GDP, and nearly 30% of the global chemicals sector. The next decade of China's chemical industry will gradually shift from quantity-driven growth to more quality-driven growth, fuelled by demand trade-up, sophistication and consolidation in this highly fragmented market. Both acquisitions and Greenfield investments take critical roles in this space, helping the chemical players gain market access into new segments or portfolios, secure access to feedstock, and at times implement a Brand B strategy. Outbound investments are still at an emerging stage, usually focusing on seeking access to advanced technology or application know-how.