Baxter draws up 1b yuan capex plan for China

US healthcare company Baxter International Inc said on Friday that it would spend 1 billion yuan in China this year to ramp up production capacity in the latest investment made by foreign drugmakers in the country.

The US drugmaker will use the funds to expand the intravenous solutions and peritoneal dialysis products output at its Guangzhou, Suzhou, Tianjin and Shanghai plants.

"The investment reinforces our commitment to China," said Paul Vibert, general manager, Baxter China. "It will also allow us to provide a significant number of jobs, which is in line with our corporate social responsibility," Vibert said.