SHANGHAI -- German chemical giant BASF inaugurated the expansion of its Innovation Campus Shanghai in China on Wednesday, aiming to improve its innovation capabilities and improve support for its customers in China and across the Asia Pacific region.

The Innovation Campus Shanghai, which opened in 2012, is BASF's largest R&D site in Asia. It completed one expansion in 2015 and another in 2019, enhancing its role as an innovation powerhouse for BASF and its partners in the region. To date, the company has invested a total of 280 million euros ($306 million) in its Innovation Campus Shanghai since 2012.

This latest expansion includes two R&D buildings, where new facilities and laboratories will be used to advance chemical research projects and create new sustainable solutions.

With its continuous investment in research and development, BASF is committed to strengthening local capabilities and cooperation with its customers on innovation, especially in fast-growing sectors such as electric cars, high-end manufacturing and renewable energy, according to Jeffrey Lou, president and chairman of BASF Greater China.

Detlef Kratz, president of group research at BASF, said in an interview with Xinhua that with the expansion of BASF's Innovation Campus Shanghai, the company can respond faster to the growing needs and requirements of the Chinese market.

As one of the most dynamic markets, the level of Chinese customer requirements is really high, he said. "So we have to be here and react very quickly."

Currently, about 10 percent of BASF's some 10,000 R&D employees work in Greater China, including those working at the Innovation Campus Shanghai.