SCA attracted by China's graying population

SHANGHAI - The Swedish manufacturer of hygiene products Svenska Cellulosa Aktiebolaget (SCA) has opened a new innovation center in Shanghai to expand its penetration in China's fast-growing market for products for an aging population.

It is SCA's first innovation center outside Sweden. The initial investment will total around 20 million yuan ($3 million) and the total investment figure may rise depending on the company's performance in China.

SCA said it will increase its focus on China's aging population because it is an emerging market with great potential.