Multinational firms keen on work report angle
A1 China's focused drive for high-quality and lower-carbon economic growth provides exciting opportunities for Dow. China has made efforts to further improve its business environment and has been open and responsive to recommendations provided by foreign businesses. We look forward to continued government efforts and policies that support manufacturing transformation via innovation and sustainability.
A2 China's commitment to advancing the circular economy and carbon neutrality will unlock huge market potential and enormous investment opportunities. As 96 percent of all manufactured goods are touched by chemistry, Dow will strive to make critical contributions to climate protection, consumption upgrades and new infrastructure. We are also leveraging our leading expertise in plastic circularity to bring low-carbon, eco-friendly and sustainable solutions to address the increasing demands of brands and consumers. We remain committed to supporting China's sustainable growth in the near and long term.
A3 China's economy has shown strong resilience in the past two years despite the challenges of the COVID-19 pandemic. During this period, Dow has remained committed to serving our Chinese customers and strengthening our ability to support their growth. Today, we have strong manufacturing and innovation capabilities in China, with eight manufacturing sites and 10 business centers across China, as well as a world-class business and innovation hub in Shanghai. We foresee China's low-carbon transformation creating exciting opportunities for Dow's continued growth.
A4 Dow believes in collaborating with stakeholders to solve complex challenges. For example, we are deepening our partnerships with local Chinese automakers to produce lighter and more fuel-efficient vehicles. We are teaming with Chinese partners to utilize our leading carbon capture solutions in energy and manufacturing to achieve a carbon-neutral future. We are also collaborating with local companies to develop sustainable solutions for recycling plastics to enable a circular economy. Dow has also participated in the China International Import Expo all four years since it started in 2018, and we will continue to bring our cutting-edge solutions to the Chinese market.
A5 China is Dow's largest market outside the United States, and we have maintained our commitment to investing in a new production line every 18 months for the past five years. Even during the pandemic, we announced projects in China with a total investment of $550 million. This included plans to build a $250 million Specialties Hub in Zhanjiang, Guangdong province, to better serve the Chinese market.
