Royal Philips will further expand direct investments and collaboration for research and innovation in China, Frans van Houten, CEO of the Amsterdam-based health technology company, said on Monday.

"China is our second home," Van Houten told press after meeting a Chinese delegation composed of start-up companies and researchers specialized on sustainability. "We will further expand our direct investments in the country, extend our collaboration with universities and do researches in China. We are very enthusiastic about the future prospects of the country."

"With approximately 8,000 employees in China, including 1,000 R&D people, and several manufacturing plants, we contribute to the Chinese economy and we are also exporting from China to countries all over the world," he added.

Philips in China now has activities in more than 600 cities and a revenue of 2.3 billion euro was generated in 2017, according to the company.

Philips started shifting its business onto healthcare equipment and services when Van Houten took the rein in 2011.

The CEO stressed that Philips now invests 1.8 billion euros or 10 percent of revenue on research and wants to improve the health of 3 billion people by 2025.

"People using Philips products and services will reach 2.1 billion this year," he said, "we still have a way to go."

In this regard, Philips is enthusiastic about the Belt and Road Initiative, said Van Houten. "Especially because this vision will foster better healthcare in all countries that are joining the Belt and Road."