The real estate property market is driving growth of China’s economy, with sales in the first half of 2016 increased by 42.1 percent over the same period of last year. Passenger vehicle sales in the first half of 2016 have increased by 11.5 percent over the same period of last year.
According to Wang, China sold over 10 million vehicles in the first half of 2016 and in June alone China sold more than 20.6 percent of passenger vehicles than the same month of last year, the highest growth record in 2016. With robust demand from infrastructure, real estate and automotive markets, coatings output has increased by 6.92 percent to reach 10 million tons by the end of July, 2016, compared with only 1.42 percent growth in the first half of 2015.
As I finish up this issue I am in Shanghai awaiting the first day of the Coatings Summit. Previously alternating between North America and Europe, this year’s biennial event is being held in Shanghai for the first time. The Coatings Summit is a unique opportunity to hear from senior coatings leaders speak about the trends and issues most important to the paint and coatings industry.
According to show organizers, Vincentz Network, the selection of Shanghai reflects “the growing importance of Asia as a coatings powerhouse.”
This year’s theme is “Shaping the Future of a Dynamic Industry” and will feature a mix of speakers from around the world.
Highlights of this event will be presentations from Hiroshi Ishino, presdieident of Japan-based Kansai Paint; Jie Hong, chairman of the board and CEO of China-based SKSHU Paint, Jalaj Dani, president of India-based Asian Paints; Hubert Culik, CEO of Slovenia-based Helios Group; Henrik Andersen, group president and CEO of Germany-based Hempel and Daniel Murad, president of U.S.-based ChemQuest Group.
I look forward to hearing their unique perspectives on the issues shaping our industry, seeing some familiar faces and meeting new colleagues.