Execs sanguine on H2 business climate in China

Q2: In your view, how will the reform and opening-up measures rolled out at the plenum help strengthen the Chinese economy and bolster its prospects of achieving modernization? Do you think China's new reform and opening-up blueprint will make fresh contributions to the global economy? If yes, how?

LI: The third plenary session of the 20th Communist Party of China Central Committee vowed to steadily expand institutional opening-up in the future, aiming to foster a first-rate business environment that is market-oriented, law-based, and internationalized as well as protect the rights and interests of foreign investors in accordance with the law. This undoubtedly brings confidence to foreign enterprises like Cytiva. We will firmly establish our presence in China, promote the high-quality development of the Chinese biopharmaceutical industry, and further inject momentum into the development of the global economy.

L. WANG: The reform and opening-up measures will shape the future pathway of both the Chinese and the world economy in a positive way. We're pleased to see that openness and collaboration have been given priority in the government's agenda, which will promote international collaboration and cooperation in many aspects.

In addition, there have been frequent mentions of technology and innovation, especially with regard to technological breakthroughs, industrial transformation, and the development of high quality productive forces. Technology and innovation play pivotal roles in the pharmaceutical industry and will lead to the creation of new molecules, medicines, models, and more, further enhancing China's competitiveness in global markets, including the pharmaceutical industry, and ultimately benefiting the unmet needs of patients in China and beyond.

N. WANG: The reform and opening-up measures will attract an increasing number of foreign companies and capital into the Chinese market. While promoting the global flow of technology and resources, these measures will also help China achieve its unique path to modernization. China's comprehensive advantages for attracting foreign investment remain prominent, including its super-large market scale, well-established supply chain, advanced infrastructure and abundant human resources. These factors continue to offer immense development opportunities, making China a market that demands great attention from foreign companies like LinkedIn. LinkedIn believes that by enhancing economic resilience, promoting technological innovation and pursuing sustainable development, China is not only driving its own progress, but also injecting strong momentum into global economic growth.

ZHAO: China's approach to promoting reform and opening-up is holistic and comprehensive. It will help establish a solid infrastructure to strengthen the Chinese economy — the world's second largest — and to achieve Chinese modernization.

Taking the healthcare industry as an example, we have seen ongoing modernization happening in China's drug regulatory framework and innovation ecosystem, harmonizing with international standards. Since coming to China 30 years ago, Astellas has witnessed huge changes in the country because of the reform and opening-up.

With China's unwavering pursuit of innovation as stated at the plenum, we expect a more favorable environment for pharmaceutical innovation to thrive, bringing more vigor and vitality to the dynamic and huge healthcare market in China. The strategic industry has the potential to play an increasingly significant role as a key contributor to the growth of the overall Chinese economy, and to the global economy when China's door opens wider.