Philips aims for healthy expansion in Chinese market

BEIJING - Seeing good momentum in the global healthcare sector, Royal Philips Electronics NV is planning to expand its healthcare business in China's rural areas, a market which is seen as a new driver of growth for the Dutch multinational group.

"We will increase efforts to deepen our presence in the countryside markets to maintain sustainable development in China, a huge market where we have achieved good performances in the high-end field," said Lu Yiqi, strategic marketing director at Philips Healthcare Greater China.

At present, the foreign industrial giants Philips, Siemens AG and General Electric Co hold a combined share of more than 70 percent of China's premium healthcare market, according to the news portal Yicai.com.