Henan connects with multinational pharmaceutical companies to create a new highland for the biopharmaceutical industry
On September 25, the 2024 Henan Multinational Corporation Cooperation and Exchange Conference held a roundtable discussion centered on the modern pharmaceutical industry in Zhengzhou. This conference aims to enhance collaboration between Henan and multinational corporations in the biopharmaceutical sector. By engaging in extensive discussions, the goal is to foster greater alignment between government and business, allowing participating companies to form partnerships with Henan and promote high-quality growth in the province’s biopharmaceutical landscape.
As the global biopharmaceutical sector undergoes a technological revolution and industrial transformation, Henan is positioning its biopharmaceutical and medical device industries as one of seven key trillion-level advanced manufacturing clusters and one of 28 hundred-billion-level modern industrial chains. Utilizing the resources of the Central Plains Medical Science City, which includes the Henan Academy of Medical Sciences and the Henan Academy of Traditional Chinese Medicine, Henan aims to establish itself as a new national hub for the biopharmaceutical industry.
Guo Peng, Deputy Director of the Zhengzhou Airport Economic Comprehensive Experimental Zone Management Committee, highlighted the burgeoning potential of the province’s biopharmaceutical and health sectors. He noted that Henan boasts a strong foundation for pharmaceutical development, achieving a total production value of 282 billion yuan in 2023 – positioning it among the top regions in the nation. With the healthcare market in Henan exhibiting significant demand—total annual medical consultations reaching 684 million and public hospital procurement approaching 200 billion yuan – Guo expressed enthusiasm for deeper engagement with major multinational corporations to keep pace with the latest trends in the modern pharmaceutical industry.
Among the attendees was Michael C. Hart, President of the American Chamber of Commerce in China, who emphasized the favorable business climate Henan provides for foreign firms and the substantial investment opportunities this creates. He pointed to the Central Plains Medical Science City as an exemplary model for the health and biopharmaceutical sectors. Hart also mentioned that the healthcare sector is the largest and most dynamic group within the chamber, with member companies eager to expand their presence in Henan. He hopes that the discussions will promote a better understanding between Henan’s health authorities and chamber member companies.
During the exchange, Jalenou, Executive President of the Pharmaceutical Development Committee of the China Foreign Investment Enterprise Association, raised concerns about market access. He underscored that foreign pharmaceutical companies’ investments in China hinge on a fair, transparent, and efficient market access environment. Jalenou looks forward to in-depth discussions with Henan’s relevant departments to address policy optimization and innovative practices in crucial areas like bidding procurement, health insurance negotiations, and commercial medical insurance.
Representatives from various cities in Henan also shared their needs during the promotion. Yang Shuguang, Deputy Mayor of Nanyang City, remarked that the biopharmaceutical industry has been designated as a priority strategic emerging industry by the local government. Nanyang plans to capitalize on its abundant Chinese herbal medicine resources to attract large-scale herbal beverage processing enterprises, enhancing the value and market competitiveness of its herbal products. Additionally, they aim to draw in major companies engaged in traditional Chinese medicine extraction, medical devices, and the processing of food-medicine homology.