Germany's Bayer in hunt for growth in China
German life science company Bayer AG regards China as a crucial market and is positively seeking business opportunities in areas including healthcare and agriculture, says Celina Chew, president of Bayer Group in China.
"China is the third-largest market for Bayer globally and an important driver for the growth of our business," Chew says.
"The main business opportunities for Bayer in China are in areas that contribute to the nation's healthcare, agricultural and better quality of life goals."
Chew notes that the Healthy China 2030 initiative, announced by President Xi Jinping in August, covers areas such as public health services, environmental management, the medical industry, food and drug safety and the better lifestyle industry.
"Our product portfolio and solutions across our pharmaceutical, consumer health, animal health and crop science businesses are well suited to contribute to a better quality of life in these focus areas," says Chew.
Chew says this year's Government Work Report indicated that China would accelerate the development of big data, cloud computing and digitalization in order to transform traditional industries and improve manufacturing capabilities.
"China's push for more innovation resonates well with us and we are working hard to bring our expertise and innovative capabilities to China," she says.
"This includes bringing advanced technology to our production sites in China."
Last year, Bayer invested 100 million euros ($106.4 million; 87.05 million) to extend a pharmaceutical packaging plant in Beijing.
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