- About Wuxi
A few days ago, the online signing ceremony of the MOU (Memorandum of Understanding) on the headquarters project of Herbalmax was held in Xinwu District, Wuxi. According to the agreement, Herbalmax plans to invest USD 150 million in Wuxi to establish a trading company, research and development center and production base. On behalf of the company, Dr. Marshall, Co-Founder and CEO of Herbalmax, said that they believed China would surely become the largest market in the global health industry and was also expected to become one of the world leaders in scientific research.
High-quality markets always attract high-quality projects. Health brands such as Swisse of Australia, FANCL of Japan and MoveFree and GNC of America have been on the list of cross-border online shopping of Chinese people. Similarly, Herbalmax had excellent sales performances. At present, many domestic customers buy things through cross-border online shopping and cross-border e-commerce. As of 2018, the company's production covered multiple series such as emotional conditioning, middle-aged and elderly health and lifespan extension. The products are currently selling on Tmall International and JD.com, with sales of nearly RMB 900 million in 2019 alone. Herbalmax is a multinational biotechnology research and development and scientific dietary supplement manufacturer headquartered in California, USA. It is a pioneer of scientific functional dietary supplements in the United States. Its cooperation with Wuxi showed the strategic layout of exploring the potential of the Chinese market.
In the interview, Dr. Marshall emphasized that the professional services for biomedical companies in Xinwu District impressed him a lot. On one hand, the reason for Herbalmax to choose Wuxi is the optimism about the huge potential of the Chinese market. On the other hand, by relying on the good biomedical industry atmosphere in Wuxi, Herbalmax would introduce its specialized knowledge and technologies into local research and development, facility manufacturing and other aspects while hammering at expanding the market through deepening localization of the enterprise. By doing so, Herbalmax will build its Chinese branch into the pioneer in Asia.
Reportedly, this project is expected to have an annual output value of 3 billion yuan within three years and that of 5 billion yuan within five years. The successful settlement of this project will further expand the bioengineering and pharmaceutical industry in Wuxi.