China's efforts to deepen its policy of reform and opening-up and promote trade liberalization give foreign enterprises confidence to bolster growth in the Asian country, a senior executive of a healthcare giant has said.
"We certainly recognize the great importance and potential of the China market and are committed to the market by continuing to invest in innovation and bring more innovative healthcare solutions," Vladimir Makatsaria, chairman of Johnson & Johnson (J&J) China, recently told Xinhua via email.
Makatsaria spoke highly of the China International Import Expo (CIIE), the world's first import-themed national-level expo held in Shanghai.
"The CIIE was a great platform to carry out more in-depth exchanges with governments, enterprises and other stakeholders and jointly discuss the development of the healthcare industry," he said.
The U.S. New Jersey-headquartered company was one of the biggest healthcare exhibitors at the CIIE. Along with more than 160 U.S. enterprises, the company showcased its latest products and services to attract Chinese consumers and build cooperative ties with a wide range of healthcare partners worldwide.
Calling the Chinese market one of the most important to the company's global business, Makatsaria noted that China has been essential in J&J's efforts to boost its research and development (R&D) and innovation capabilities.
"All our three business sectors have their R&D center in China," said the company chief, adding that in the coming year the company will further expand its presence in China.
J&J's first innovation incubator outside North America will be open in Shanghai in 2019 after the company launched its Asia Pacific's first Innovation Center in 2014. Meanwhile, its new Ethicon factory in Suzhou in east China's Jiangsu province is also expected to open next year to produce high quality surgical products for China's market, according to the chairman.
J&J set its footprint in China in 1985, following the country's opening up in 1978, and was among the first foreign healthcare companies to do business in the country.
The past three decades have witnessed J&J's robust development in China. With its businesses spanning across consumer, pharmaceutical and medical goods, the company has nearly 10,000 employees in more than 90 cities in China, including Beijing, Shanghai, Guangzhou and Xi'an.