U.S.-based agriculture and food company Cargill announced Monday that it will invest nearly 30 million U.S. dollars to build a flavor-syrup production base in the city of Pinghu, Zhejiang province.

Construction of the base began on Monday, with production expected to start in the spring of 2023.

Liu Jun, president of Cargill China, said that Cargill is establishing the base because it has full confidence in the Chinese market.

"China will be one of the most attractive food ingredient markets in the world in the future," said Liu.

The base includes a flavor-syrup production line and a catering research and development center. After being put into production, it will mainly produce customized small-package flavor-syrup products.