"At Dow, sustainability is embedded in our DNA and the way of doing business," said Hawkins.

He said Dow is now working with a well-known Chinese appliance manufacturer to develop a new type of washing machine that can realize a 50 percent reduction in water usage.

According to Hawkins, the company has spent $1.7 billion annually on innovation research, most of which focuses on sustainability in sectors such as energy, water, food, packaging, transportation and infrastructure.

About 10 percent of the company's sales goes to products that are produced by sustainable chemistry, he said.

In China, Dow has multiple collaboration projects with governments, companies and non-governmental organizations.

The company has provided training in work safety and sustainability to dozens of Chinese companies with more than 4,000 operators and managers in the past five years.

It has also helped small enterprises in achieving cleaner production of dangerous chemical items.

"We are always looking for new alliances with China, which also allows us to learn," said Hawkins.

Entering the China market in the 1930s, Dow has invested $1.2 billion in total in the country.

Over the past year, the company has posted sales of $4.5 billion in China, making it the second-largest international market for Dow globally.

According to Hawkins, "We have seen China's leadership's unprecedented determination and measures to comprehensively deepen economic, social and political reforms.

"As such, we believe that China's next phase of economic growth will be characterized by innovation, green energy, new urbanization and urban-rural integrated development strategy, as well as efficient utilization of natural resources, which will bring opportunities to Dow."

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