On the morning of April 29, 2022, Philips' one of the three new innovation centers in China was officially inaugurated in Shenzhen. Mr. Michiel Bierkens, Consul General of Netherlands Consulate General in Guangzhou, Mr. Jian Zheng, Deputy Director of Shenzhen Commerce Bureau, and Mr. Lin Jianping, Vice President of Philips Greater China, attended the inauguration ceremony.
Inauguration Ceremony of Philips Shenzhen Innovation Center
In his speech, Mr. Michiel said that 2022 is the 50th anniversary of the establishment of diplomatic relations between China and the Netherlands, and that many Dutch firms have established and expanded their presence in Shenzhen in the past decades. He expects more Dutch companies and Shenzhen to carry out deeper exchanges and cooperation in more fields in the future to share the opportunities offered by the era.
Mr. Michiel, Consul General of Netherlands Consulate General in Guangzhou, delivers a speech
Mr. Jian Zheng also delivered a speech at the event. He expressed his strong support to Philips in its effort to expand its presence in Shenzhen and increase R&D investment. He hopes that more foreign-funded enterprises will continue to invest and grow in the city by seizing the excellent opportunities brought by local market development. He revealed that Shenzhen Commerce Bureau is to issue theMeasures for Reviewing and Approving the Eligibility of Foreign-funded R&D Centers in Shenzhen to Import Equipment Free of Duty this year, to encourage more foreign firms to establish R&D centers in Shenzhen. In addition, the formulation of the Regulations on Foreign Investment in Shenzhen Special Economic Zone is in progress. This legislation will help Shenzhen make its business environment more fair, just, open and law-based. In 2022 Q1, the realized FDI in Shenzhen exceeded USD 2.1 billion, representing a YoY increase of 32%, according to Mr. Jian.
Mr. Jian Zheng, Deputy Director of Shenzhen Commerce Bureau, delivers a speech
Mr. He Guowei, Member of Global Executive Board and Greater China President of Philips, expressed congratulations via video. He said that Philips will continue to raise innovation investment in Shenzhen. China is Philips' second-largest market and is becoming one of the largest health tech markets in the world.
At the 2020 Shenzhen Global Investment Promotion Conference, Philips signed a strategic cooperation framework agreement with Nanshan District Government, with a decision to set up its Shenzhen Innovation Center. Since 2021, Philips has accelerated its "localization" in China. Its Shenzhen Innovation Center will focus on the independent product development and product upgrade for the company's healthy life and connected care business, with an aim to stimulate massive innovation in Shenzhen. In addition to Shenzhen Innovation Center, Philips has created two innovation centers respectively in Shanghai and Suzhou. Going ahead, Philips will simultaneously launch global products in China and expedite local innovation to empower its global business.