According to Yan Zhirong, the executive president of Amway Greater China, the company's sales in China increased by 28% to CNY17 billion in 2008.
At the same time, Amway has set a new goal for 2009, which is to realize a double-digit growth in the Chinese market.
Yan told local media that though the current global economic situation is not optimistic, the development of the Chinese market will still be stable. He said the capacity of China's cosmetics market is CNY50 billion and this increases at an annual growth rate of 12%. The large base of the Chinese cosmetics market can offset the effect of economic slowdown.
Yan revealed that Amway plans to invest additional USD15 million to expand its plant in Guangdong by building a new production line. This new production line will be used to produce air fresheners. This new product is currently waiting for type approval. In the future, other Amway products such water purifiers will also be launched on the Chinese market.