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Globalization GongZiBen falling investment in 2017
According to recent statistics IHSMarket, 2017-2018, is expected to Asian countries outside of China productivity will drop by more than half of new chemicals, and in the next few years will remain low. China chemical industry investment fell slightly in 2018, since then a steady decline. American chemical industry council (ACC) recently said that in 2017 the United States chemical industry capital spending is expected to reach $33.8 billion, up 6%, next year will increase by 6.3%. European chemical may be increased slightly, but compared with the United States, is insignificant. And other parts of the chemical industry capital investment is declining.
Increased investment in pressure
For Europe and the United States the listed company, the investment pressure continues to grow. Europe and the United States listed company priority to shareholders through dividends and share repurchases cash returns, although at a reduced stock repurchases seems to be. In 2017 the overall market share buy-back is expected to decline 21%. However, investors demand management to put money into the project or to give up of share out bonus, and the call for activist investors to invest in strategic growing.
CraigKocak PWC partner, said in the past few years, we see the activist investors in promoting the management team and board of directors increasingly play a more important role in decision making, including mergers and acquisitions in the capital allocation, the core business and investment or stock repurchases, etc.
Returns remained low