Multinational firms unveil China strategies and investments at CIIE
Recognizing the ongoing China International Import Expo (CIIE) in Shanghai as a globally prominent platform and a vital bridge connecting the China market with global resources, multinational companies are unveiling new development strategies and announcing increased investments in China during the expo.
Gnosis, the human nutrition and health division of French biotechnology leader Lesaffre Group, unveiled its new global brand image and announced its deepened global and China strategies at the CIIE, officially launching its development goals for 2030.
The company said it views China as a key area in its global strategic layout. In response to consumption upgrading toward high-end and functional products, its efforts will include focusing on Chinese consumers' needs and developing corresponding solutions, as well as investing in resources tailored to China and deepening key partnerships within the local industry chain.
"The CIIE is a perfect platform due to its scale and the customer base it attracts. This event is ideal for showcasing our new brand and vision: think like nature to raise human health, which aligns with the Healthy China 2030 initiative," said Lasse Sogaard, global head of commercial at Gnosis.
"The China market is a crucial pillar for us over the next decade," he said, adding that with China's three-year weight management initiative underway, the company is developing potential dietary supplements to help individuals manage their weight effectively.
Meanwhile, United Kingdom-headquartered pharmaceutical company AstraZeneca signed a cooperation agreement with the management committee of the Qingdao High-tech Industrial Development Zone, announcing an additional investment of about $136 million to expand the production capacity of its Qingdao supply base, enhancing the company's production capacity for inhalation aerosols.
"Since 2023, we've announced investment of more than $1.8 billion in manufacturing in China, which is incredible. We now have four world-class manufacturing sites in China, which supply exports to over 70 markets around the world," said Tony Pusic, senior vice-president of Supply Asia Pacific at AstraZeneca.
The company also announced during the CIIE that its production base in Taizhou city, Jiangsu province, reached 10 billion yuan ($1.4 billion) in output value. In August, the company kicked off the construction of a new production line for next-generation diabetes treatment at the site.
