SHANGHAI, March 13 (Xinhua) -- British consumer health company Haleon announced on Friday that it will invest nearly 600 million yuan (about 86.95 million U.S. dollars) to build a new oral-care production base in Shanghai, underscoring multinational firms' sustained interest in China's consumer health market.

The facility, expected to be completed by the end of 2027, will focus on the company's core oral health products and strengthen its local supply chain.

"Oral health is a major opportunity for China and for Haleon. China is one of the world's fastest-growing oral health markets and the largest globally for gum health," said Brian McNamara, CEO of the company. "The investment we announced today reflects our confidence that China will remain an important growth market."

He added that the company sees strong momentum in the Chinese market, characterized by continuously upgrading consumer demand and rising purchasing power.

According to Susan Gu, Haleon's general manager for the Chinese mainland and Hong Kong, the company has more than 3,000 employees, 20 offices and three manufacturing sites in Tianjin and Suzhou, and an R&D center in Suzhou, which is one of its three global innovation hubs. "China is one of Haleon's most important markets globally," Gu added.

McNamara noted that China's steadily improving business environment, combined with the Lin-gang Special Area's advantages in policy support, talent and infrastructure, has reinforced the company's commitment to long-term investment.

According to Li Xiangcong, an official with the administrative committee of the Lin-gang Special Area, the project benefited from streamlined approvals, efficient coordination and cross-border data governance arrangements, advantages that have helped create what he called "the Haleon speed."

Haleon was created from the consumer-health divisions of three pharmaceutical heavyweights, GlaxoSmithKline, Novartis and Pfizer, and has steadily expanded its presence in China. About 85 percent of the products it sells in China are already manufactured locally.

By 2027, Haleon aims to expand its brand Parodontax to 30 Chinese cities and reach roughly 250 million consumers.