Foreign companies set up R&D centres amid China's innovation boom

This photo taken on July 25, 2023 shows a lab of THE LAUNDRESS, a high-end fabric care laundry brand affiliated with the global consumer goods giant Unilever, in north China's Tianjin. (Xinhua)

TIANJIN: In recent years, many foreign companies have chosen China as their ideal location to settle their research and development (R&D) centres to cater to the vast Chinese market demands and serve a larger global market.

In late July, The Laundress, a high-end fabric care laundry brand affiliated with the global consumer goods giant Unilever, unveiled its Asia R&D Centre in north China’s Tianjin Municipality.