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Focus - U.S.-China trade row helped BASF land $10 billion Guangdong chemicals coup: sources

Reuters  |  BEIJING 

By Michael Martina and Chen AizhuBEIJING (Reuters) - Germany's BASF managed to wrap up a preliminary deal to build China's first wholly foreign-owned chemicals complex quite quickly, aided in part by trade tensions between Beijing and Washington, sources with knowledge of the matter said.The proposed complex, worth some $10 billion in investment to 2030, will be located in Guangdong, China's most populous province which had been worried about the impact of a U.S. decision to heavily penalise telecom firm ZTE Corp, also based there.Fears that a U.S.-China trade war would hurt investment ...

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First Published: Wed, July 11 2018. 20:24 IST