Merck to step on the innovation pedal with more hubs planned in China

German science and technology group Merck KGaA will build more innovation hubs in China during the next few years, as the country is "extremely important both as a market as well as an innovation field", a top executive of the pharmaceutical and chemical conglomerate said.

"We are convinced that China is becoming one of the most innovative countries in the whole world, where we see a really vibrant innovation ecosystem," said Stefan Oschmann, chairman of the executive board and CEO of the company.

"In areas such as biotech, semiconductor technology, and artificial intelligence, we want to set up a network of innovation hubs in China where we can, together with Chinese partners or other global partners, develop innovations jointly."