Philips to grow China investment

Dutch firm expands R&D efforts to tap health-conscious consumers

Dutch multinational Royal Philips NV said it is bullish on the growth potential of personal health products in China and will continue to expand its investment in the country, as Chinese consumers increasingly pursue high-quality lifestyles.

Philips said it plans to continue to expand its research and development efforts in China, its second-largest market after the United States. Currently, it has a major R&D center in Shanghai, and it has more than 1,000 researchers in the country.