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BEIJING Women's Eddie Vanderdoes Jersey , Sept. 18 (Xinhua) -- Novozymes, the world's largestproducer of industrial enzymes, is upbeat on growth opportunitiesin China.
The Denmark-based biotech giant will increase investment inChina, including in production and customer-facing activities, asthe company's local business grows, according to Peder HolkNielsen, president and chief executive officer of Novozymes, duringa trip to Beijing Monday.
With a 48 percent market share in industrial enzymes, Novozymesprovide biological solutions for producers of ethanol, bread,detergent and textiles in 130 countries.
In the first half of 2017, Novozymes posted better-than-expectedfinancial results, with its China market being ""a positivesurprise,"" according to Nielsen.
In his eyes, huge changes have taken place in China in the pasttwo decades, and so has the company's business here.
""Compared with over 20 years ago, when there were hardly anycars in Beijing and few high rises on the northeastern third ringroad, Novozymes' business in China is much larger and matters moretoday,"" Nielsen said in an interview. ""Any strategy that goes on inNovozymes today will have an element of China to it, which was notthe case 20 years ago, simply because the opportunities in Chinaare so large and impressive.""
""The main growth opportunities in China are in sectors likehousehold care, including laundry and cleaning products, as well asfood and beverage, as China's shift from a global manufacturingcenter to a domestic consumption-led economy means more demand forsuch products,"" Nielsen said. ""China's detergent market is growingvery fast, both liquids and powders. That's something we takeinterest in.""
He believes that ethanol fuel is another market area to watch,and that despite currently being a small player in the biofuelmarket, China will hopefully become a much bigger market with itslarge fleet of cars, significant gasoline consumption and recentplans to expand ethanol fuel use.
The government last week announced a plan to push nationwide useof bioethanol gasoline by 2020 to cut emissions and fossil fuelconsumption.
""The 2020 ethanol plan for China is exciting for Novozymes. It'salso exciting for the world,"" Nielsen said. ""It needs to get offthe paper and become something that's real.""
""The country's quest for sustainable solutions not only createsopportunities for Novozymes but also is changing businesses allover the world, because the Chinese market is a large driving forceof growth for many foreign companies,"" he said.
Meanwhile, he expected to see better practice of rules inprotection of intellectual property rights, though there has beenimprovement in this field.
With over 1,000 employees in China, Novozymes has grown from asingle office in Beijing in the early 1990s to a network ofresearch and development, production, sales and marketing in sixChinese cities. Enditem
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