Philips(US:PHG) Ren Min Ri Bao·2025-10-20 22:42Core Viewpoint - Philips sees significant opportunities in the Chinese market due to its economic recovery and stable consumer growth, which positively impacts its sales and innovation efforts [2][3]. Group 1: Market Opportunities - China is Philips' second-largest market globally, and the company recognizes the importance of understanding its development [2]. - The recovery in consumer spending in China has led to growth in Philips' terminal sales, particularly in the health and wellness sector, which is expected to account for 20% of global sales by 2024 [2]. - The "Healthy China 2030" initiative provides a clear development goal that supports Philips' future growth in the region [4][5]. Group 2: Innovation and Development - Philips is leveraging China's talent pool and innovation ecosystem to develop applications that support local healthcare systems while contributing to global advancements [3]. - The company is actively preparing to establish an innovation center in Beijing to enhance its R&D capabilities tailored for the Chinese market [2]. - China's rapid advancements in artificial intelligence and its strong research and engineering workforce are facilitating efficient AI development [2][3]. Group 3: Manufacturing and Supply Chain - Philips has five production bases in China, which significantly contribute to its global product manufacturing, with the Suzhou medical imaging base undergoing expansion [3]. - The company has received support from Chinese authorities to ensure a stable supply of critical raw materials for medical device production [3]. Group 4: Long-term Commitment - Philips expresses confidence in its long-term development in China, emphasizing ongoing investments in innovation and manufacturing facilities [5]. - The company aims to act as a bridge for cooperation between Europe and China, promoting mutual exchanges in academia, industry, and healthcare [4].