Healthcare giant plans to increase investment

Johnson & Johnson plans to increase funding in China as the government starts rolling out policies to boost innovation in the pharmaceutical sector and help startups.

The healthcare products giant based in the United States aims to invest about $500 million to support research and development here.

"We have strong confidence in China with the government bringing in reforms for drug innovation as well as helping startups in the sector," said Wu Dong, head of the Asia Pacific Innovation Center at Johnson & Johnson.