GlaxoSmithkline Expands Investment in West ChinaGlaxoSmithkline's first joint venture in China is stepping up efforts to expand investment and localize material production to mark its ten-year operation in Chongqing.The massive potential of China's western region and the important status of Chongqing have driven the world's leading pharmaceuticals giant to invest in this southwest municipality, said Chen Keqin, general manager of GlaxoSmithkline Pharmaceuticals (Chongqing) Ltd. "We have made the right choice," said Chen, "The company is making good profits, thanks to the support of the municipal government." According to him, the joint venture plans to introduce new pharmaceuticals to the Chinese market, and produce technical toxicants and other materials in China. Chongqing, an industrial and commercial base, is the largest recipient of overseas investment in western China. In addition to Chongqing, GlaxoSmithkline has four other joint ventures in China, located in Tianjin, Suzhou and Shanghai. |
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