TCP Group boosts investment in China, eyes economic opportunities

Thailand's TCP Group, the owner of the Red Bull brand, is increasing its investment in China, capitalizing on the country's continued economic resilience and commitment to market reforms, CEO Saravoot Yoovidhya said on Monday at the 2025 China Development Forum.

"China has shown remarkable openness and inclusion over the past decades. Its steady GDP growth of 5 percent in 2024 injected new momentum into the global economy, reinforcing China's position as a key driver of stability," Yoovidhya said.

Since introducing Red Bull to China in 1993, TCP has steadily expanded its footprint in the country. The company has invested 4.36 billion yuan ($610 million) in China over the past five years and plans to ramp up spending on production expansion, research and development, and supply chain digitalization.

"We see China as a core market for our global strategy," Yoovidhya said. "The country's digital transformation, green development, and push for high-quality growth create vast opportunities for companies worldwide."

TCP's investments in China have benefited from the country's regional development initiatives, including the Hainan Free Trade Port. The company has expanded its production facilities from Hainan to Sichuan province and Guangxi Zhuang autonomous region, strengthening its supply chain to meet growing consumer demand.

"As part of our ‘In China, For China' strategy, we are transitioning from a traditional beverage producer into an intelligent, full-solution manufacturer," Yoovidhya said, emphasizing the company's long-term commitment to the Chinese market.

The company's focus aligns with China's broader economic policies, which encourage foreign businesses to deepen their presence in the country.

Yoovidhya noted that these policies are making China an increasingly attractive destination for multinational corporations. "China's commitment to high-level opening-up and its alignment with international trade standards create a stable and predictable environment for businesses like ours," he said.

This year also underscored the broader economic relationship between China and Thailand, as 2025 marks the 50th anniversary of diplomatic relations between the two countries.

"This year is particularly significant," Yoovidhya said. "As we stand at this new historical starting point, we look forward to strengthening China-Thailand economic ties and contributing to high-quality development in both countries."

TCP plans to leverage its resources and brand influence in the energy and functional drink industry to support greater trade and investment cooperation. "We see huge potential for collaboration in consumer markets, intelligent manufacturing, and supply chain innovation," Yoovidhya added.

chengyu@chinadaily.com.cn