Execs sanguine on H2 business climate in China

Q5: The plenary session has stressed that reform tasks laid out at the meeting shall be completed by the time the People's Republic of China celebrates its 80th anniversary in 2029. How do you expect the new reform and opening-up measures to transform the Chinese economy in the coming five years? What strategies will your company adopt to align with the expected transformation? Looking ahead, in the second half of 2024, what are your expectations for the Chinese economy? How do you think your company will fare in this evolving landscape?

LI: The continuous emphasis on innovation and opening-up will bring more opportunities for Chinese innovative drugs to speed up their journey to the market and benefit patients not only in China, but around the globe. In line with our parent company Danaher's innovation strategy in China, we will continue our efforts to expand collaborations with all stakeholders in the biopharma industry, from discovery to commercial manufacturing and delivery of new drugs. Cytiva is happy to support more Chinese drugs in reaching the global market.

Meanwhile, I look forward to the digital transformation of our industry. We have launched many tools and solutions and an online service center, which enable smart manufacturing and services for our customers here in China. Going forward, we will continue to focus on customer needs, striving to develop more flexible and convenient solutions to advance and accelerate therapeutics.

L. WANG: China has demonstrated its potential to lead globally across various technological platforms.

Therefore, we have continuously increased our investment in China over the past two years, including $700 million to build a manufacturing and supply site in Qingdao, Shandong province, an additional investment of $475 million to build a small molecule factory in Wuxi, Jiangsu province, as well as announcing Shanghai as our fifth global strategic site, illustrating our long-term commitment in China.

N. WANG: We recognize and appreciate the Chinese government's positive attitude and firm resolve toward opening-up. These measures, we believe, will spur technological innovation and industrial upgrading, continually invigorating China's market dynamism and driving sustained, stable economic growth. This, in turn, is likely to offer broader development opportunities for foreign enterprises. China represents one of LinkedIn's fastest-growing markets globally, reinforcing our commitment to increased investment in the country. We aim to leverage our unique strengths in connecting top-tier global talent with professional opportunities, coupled with our first-hand data insights.

ZHAO: Given China's resilient economic performance in the first half of the year, alongside the new measures introduced to boost the economy, we are optimistic about the Chinese economy in the second half. With the implementation of the new reform and opening-up measures, we expect more breakthrough innovations coming from emerging or strategic industries such as healthcare in the next five years, which will inject new growth impetus into the country's economy.

We will continue to accelerate and evolve together with China with a patient-centric mindset, making our innovations more accessible for Chinese patients.