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Well-being firm vows to expand, invest in nation

By ZHENG XIN | CHINA DAILY | Updated: 2024-06-14 08:54
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Customers check on fragrance products of dsm-firmenich at its atelier in downtown Shanghai. [Photo provided to China Daily]

Confident of China's long-term potential, especially in the health, nutrition and beauty sectors, dsm-firmenich said it will continue to expand and invest in the nation, amid a gradual recovery of its economy and growing consumer confidence.

"The Chinese market has been an important strategic market for dsm-firmenich, and we have continuously invested and will keep investing in China," said Dimitri de Vreeze, CEO of dsm-firmenich, a company that specializes in health, nutrition and beauty.

"I'm pleased to say that we have had a strong start in the first quarter of the year, and we see positive momentum continuing into the second quarter, especially in China, where our growth outpaces our global growth. This is very promising," he said.

According to De Vreeze, China's consumer market is experiencing a stable recovery, generating diversified consumption demand and new trends, with the market necessitating quick responses from manufacturers.

In sectors such as nutrition, health and beauty, the company is witnessing these markets growing, he said.

"In China, a key engine of dsm-firmenich's economic growth, healthy, nutritious and delicious foods have become the most sought-after trait among consumers, where dsm-firmenich finds massive opportunities. What is more, the younger generation in China is spending more and more on fragrance and beauty to find their self-identity, providing a huge opportunity for dsm-firmenich," he said.

"Chinese consumers are attaching more importance to health and nutrition. People are now increasingly aware of the need to manage their immune health, increasing demand for easily accessible dietary solutions that support proactive health. We want to leverage the company's advantages to further facilitate Chinese consumers' demand in these sectors.

"China has become not only a key market and production base but also an innovation hub for many multinational corporations," he added.

Data released by the Ministry of Commerce show that the number of newly established foreign-invested businesses in China hit 16,805 in the first four months of 2024, up 19.2 percent year-on-year.

According to Pan Yuanyuan, an associate researcher at the Chinese Academy of Social Sciences' Institute of World Economics and Politics, China's wealth of innovative application scenarios, bolstered by supportive policies and a thriving market, will continue to attract global investors.

The allure of investment opportunities will endure, particularly in emerging industries and new business models, Pan said.

The company currently has four world-class research and development centers in China, to research, innovate, and respond to local customer demand for tailored fragrance, nutrition and health-conscious taste solutions.

"We have a strategy in China for all our three businesses to really be locally here. Not only with science, research and creation, but also production," De Vreeze said.

"It's not only China for China locally, but it's high-quality products which are appreciated globally. We already see that in the hydrocolloid business."

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