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P&G unveils new innovation center in Beijing
By Pan Xiaoyi |
August 18, 2010, Wednesday
|
Online Edition
Online Edition
P&G said today it plans to invest at least US$1 billion in China in the next five years, more than the amount it has poured into the country over the past decade, to ride on robust market growth.
To stress its continued investment in the Chinese market, P&G inaugurated a US$70-million P&G Innovation Center in Beijing today.
This is P&G's sixth research facility worldwide and is expected to be one of its few innovation centers which support its global business, especially in the emerging markets.
"P&G is shifting more innovations to Asia because more growth comes from here," said Robert McDonald. "In the future, substantial growth will be realized in China and driven by China while the establishment of the center will introduce new innovations and growth to the market."
The Beijing innovation center is relocated this year to the suburban Shunyi District from Tsinghua Science Park. Its building is the first one P&G built in China. Its registered capital stands at US$70 million.
The center employs 520 people from 16 countries and specializes in product development and innovation in fields of fabric care, beauty and hairdressing, oral care, female care, baby care and snacks.
Since it entered China 22 years ago, P&G has invested US$1.5 billion in the country.
Globally, P&G's consumers amount to 4.2 billion and this figure is likely to grow by 1 billion in the next five years, the company projected.
To stress its continued investment in the Chinese market, P&G inaugurated a US$70-million P&G Innovation Center in Beijing today.
This is P&G's sixth research facility worldwide and is expected to be one of its few innovation centers which support its global business, especially in the emerging markets.
"P&G is shifting more innovations to Asia because more growth comes from here," said Robert McDonald. "In the future, substantial growth will be realized in China and driven by China while the establishment of the center will introduce new innovations and growth to the market."
The Beijing innovation center is relocated this year to the suburban Shunyi District from Tsinghua Science Park. Its building is the first one P&G built in China. Its registered capital stands at US$70 million.
The center employs 520 people from 16 countries and specializes in product development and innovation in fields of fabric care, beauty and hairdressing, oral care, female care, baby care and snacks.
Since it entered China 22 years ago, P&G has invested US$1.5 billion in the country.
Globally, P&G's consumers amount to 4.2 billion and this figure is likely to grow by 1 billion in the next five years, the company projected.
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