Nestle Invests $102m in China to Expand High-End Operation

(China Daily, May 30, 2020)

Nestle SA is investing 730 million yuan ($102.2 million) in China to expand and strengthen its operations in the country, its second-largest market. The company said it would also scale up its production capacity for high-end, innovative products in Tianjin, to meet rising consumer demand for plant-based products, snacks and pet food. The investment is testimony to Nestle's strong commitment in introducing more healthy and nutritional products in China, said Rashid Qureshi, chairman and CEO of Nestle in China. According to Qureshi, China's food industry has been seeing an upgrade in preferences, with focus shifting from eating well and having enough to eat to eating healthily and with full joy that can come from the experience, a trend which will lead to further industrial upgrade.