China enhances commitment to term development of foreign-funded pharmaceutical firms
Date
11/14/2024 7:37:09 AM
(MENAFN) China has reinforced its commitment to the long-term development and sustainability of foreign-funded pharmaceutical companies in the country. This support will focus on enhancing their research and development (R&D) capabilities and promoting the localized production of advanced pharmaceutical products. The National Health Commission organized a meeting earlier this week to highlight these objectives, emphasizing the importance of creating a more favorable environment for foreign investments in the pharmaceutical industry.
The event gathered representatives from a wide spectrum of pharmaceutical companies, including both state-owned and private firms, as well as foreign-invested enterprises and traditional Chinese medicine producers. The meeting's goal was to foster better communication between the government and the pharmaceutical industry, ensuring that the policies in place align with the evolving needs of the sector.
A key theme discussed was the expansion of domestic pharmaceutical companies' international reach. China is encouraging these companies to build global partnerships, which will help promote international cooperation and enable mutual benefits. The government believes that increased international exchange will drive innovation and bolster China's position in the global pharmaceutical market.
This initiative also seeks to establish China as a hub for advanced pharmaceutical production, with a particular focus on high-end products. By enhancing both local and foreign companies’ capabilities, China aims to strengthen its pharmaceutical sector, improve production standards, and contribute to global healthcare. These efforts are part of China’s broader strategy to integrate its pharmaceutical industry more closely with global markets.
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