Global coatings giant paints rosy China market picture

BEIJING - The chief of US company Axalta Coating Systems, the global paints and coatings manufacturer, said it planned to invest more in China, after the group successfully opened a massive technology center in Shanghai earlier this month.

Axalta chose Shanghai for its new 15,500-square-meter technology center, partly because the company's Asia Pacific headquarters is already located there. But also because the local government was very supportive in setting up the center, as the city positions itself as an innovation hub, said Axalta Chairman and CEO Charlie Shaver.

"Shanghai has impressive plans to set up an international sci-tech innovation center," he said.