Execs sanguine on H2 business climate in China

Q1: The third plenary session of the 20th Communist Party of China Central Committee in mid-July has rolled out the reform and opening-up roadmap for the Chinese economy in the coming years. What are your major takeaways from the plenum? What are the biggest opportunities you spot in China's new measures to deepen reform and further open up its economy? How do you plan to capitalize on these opportunities in your specific industry?

LI: China's economy is transitioning from high-speed development to high-quality development, and the third plenary session of the 20th Communist Party of China Central Committee said China will improve the mechanisms supporting the development of innovative drugs. With pricing and payment reforms widely anticipated, we believe that, driven by favorable policies, China will continue to unleash the market potential of innovative drugs. Currently, Cytiva provides comprehensive end-to-end solutions for producing antibodies, mRNA drugs, viral vectors, cell therapies, small nucleic acid drugs and other novel therapies. Through localizing innovation, commercial operations, and supply chain and manufacturing, we hope to further accelerate our response to the development needs of local biopharmaceutical companies, helping more Chinese innovative drugs enter global markets.

L. WANG: AstraZeneca sees significant market and policy opportunities in China's new opening-up measures. With the increased opening-up of the medical field, AstraZeneca will be able to participate more deeply in the Chinese market. In addition, the government's active support for foreign-funded biopharmaceutical projects has provided AstraZeneca with more policy preferences and convenient conditions.

AstraZeneca will seize these opportunities to promote the research and development and launch of innovative drugs, and deepen cooperation with local companies and scientific research institutions to jointly promote the development of China's biopharmaceutical industry. Moving forward, as a localized multinational company, we are thrilled to embrace innovation in China and foster East and West combined innovations to benefit patients in China and worldwide.

N. WANG: China's new, more sophisticated open economic system promises an enhanced business environment for both domestic and foreign firms. This should enable foreign enterprises to better navigate and adapt to the Chinese market, facilitating the localization of their products and services.

As China continues to pursue high-level opening-up and refine its business environment, LinkedIn is committed to increasing its investment in the country over the next decade. We aim to collaborate with Chinese enterprises in navigating the challenges and opportunities presented by globalization, and supporting their pursuit of higher-quality growth in the global marketplace through building a cooperative partner ecosystem that strives for win-win outcomes.

ZHAO: We are very much impressed by China's ambition, determination and action manifested by China's new measures to deepen reform and further expand high-level opening-up, which reassures MNCs' investment for long-term development in China, including Astellas.

Our vision is to turn innovative science into value for patients. When we saw China's emphasis on improving people's quality of life, pursuit of innovation, and priority on policy and governance support for strategic industries like biomedicine, I would like to say we share the same priorities and purpose with China. Astellas will continue to invest in and evolve with China, to help improve quality of life for Chinese patients with our global leading innovations. Meanwhile, we will strengthen ties with stakeholders to accelerate what we do, to promote high-quality development of the healthcare industry in China for Chinese people's well-being.