Export weakness a 'passing phase'

3M China executive says nation to remain global manufacturing hub

The sluggishness affecting China's exports will pass, and the nation will remain a global manufacturing hub in the next decade, said Donald Chang, president of 3M China, in a conference in Shanghai on Wednesday.

3M, one of the world's largest industrial materials manufacturers and suppliers, aims for net profit growth in the next three years, Chang said. He said the company has also set a target of up to $5.5 billion in sales by 2015 in China.