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P&G Makes New Stride in Innovation in China Ministry of Commerce Highly Commends P&G’s Contribution to China

Monday, August 23, 2010 9:19 pm EDT

P&G recently announced the opening of its new Beijing Innovation Center (BJIC), in which it has invested 80 million US dollars. As one of its most important innovation centers, BJIC will provide R&D support to its China, Asia and Global operations. At BJIC’s grand opening ceremony, Mr. Bob McDonald, Chairman of the Board, President and Chief Executive, announced P&G’s full confidence in China. In the next five years, P&G will invest at least another 1 billion US dollars, said Mr. McDonald.

Vice Minster Wang Chao of Ministry of Commerce warmly congratulated BJIC’s opening at its opening ceremony. “P&G is an excellent example of Sino-US economic cooperation. I am very optimistic about P&G’s future in China. Foreign companies are an important part of China’s national economy. Advanced technology, management expertise and philosophy have had a profound impact on every aspect of China’s economic and social life. They have positively facilitated the development of China’s high tech, labor intensive and service industries, furthering China’s economic development and China’s integration into globalization. China will adopt a more open approach in conducting economic cooperation internationally and create a better environment for companies investing in China,” said Mr. Wang. He believed that foreign companies such as P&G would achieve further development in China.

Since entering China in 1988, P&G has invested more than 1.5 billion US dollars in the country. In the next five years, the company plans to invest at least another 1 billion US dollars in China. In the past 22 years, P&G has vigorously invested in innovation, serving as an important foundation for its China operations and other operations globally. The new BJIC will serve as a critical innovation center for P&G in China, in Asia and globally.

 

 

Mr Bob McDonald expressed full confidence in China’s investment environment. “China has a very positive investment environment. We will make more investments in the country in the next few years. We will take more actions to serve more Chinese consumers, in more parts of China, more completely.” Said Mr McDonald.