BEIJING, June 25 (Xinhua) -- Innovation will be a key growth driver for Johnson & Johnson's China business to achieve a higher status within the group in the near future, according to senior management with the global health giant.
China is the company's third largest market as well as the fastest growing as the country has the world's largest population and has much room for improvement in medical services, Will Song, chairman of the board and president of Johnson & Johnson Medical China, said when attending a CSR innovation forum Monday.
Song highlighted treatment of tumours, cardiovascular and mental diseases as fields with growing market demand as society is ageing and China aims to build a healthy country by 2030.
The multinational company entered China in 1985 by setting up a joint venture shortly after the country began its reform and opening-up drive. "We have grown together with the Chinese economy and have been doing our part to serve the development of society," Song said.
Song pointed out that doing public welfare work to improve society's wellbeing has been part of the company culture and it pays to be a good corporate citizen.
The company has worked with local partners to train nurses and village medical workers, treat people suffering cleft lip and palate and mental illnesses in China. Over 5,500 China employees offered more than 12,000 hours of volunteer services in 2017, according to Song.
Doing public welfare work in China has helped drive business innovation as Chinese people have specific medical service demands due to different physical conditions, according to Song. For example, there is a higher risk of liver cancer in China than in many western countries.
The company has set up an innovation center in Shanghai. It also has worked with the local government to establish its first JLABS, an open incubator for innovative technologies, outside North America and Europe in the city, with its first project initiated last week focusing on treatment of lung cancer, a disease affecting many Chinese.