Reference News Network, August 25 report - According to the South China Morning Post website on August 22, China's rise in biotechnology innovation provides the world with a cheaper alternative to expensive medical products from Western suppliers. However, geopolitical tensions remain the main challenge for China's globalization efforts - said an investor in the industry.
"We can reduce medical costs through technological innovation and improved efficiency, so that more people can benefit," said Liu Da, General Manager of the China Resources CP Life Sciences Fund, who recently spoke to a reporter from the South China Morning Post. "China's recent achievements in the field of biotechnology show that this is possible."
The China Resources CP Life Sciences Fund was established in 2019 by China Resources Group and Thai CP Group, managing hundreds of millions of dollars in funds. The fund's supported companies include Legend Biotech, which listed in New York in 2020, and Mirai, a Singaporean biotechnology company that listed in Hong Kong in May of this year.
In recent years, innovative drugs developed by Chinese biotechnology companies have increasingly attracted the attention of multinational corporations, which are called the "DeepSeek (Deep Exploration) moment" of China's biotechnology industry.
Last month, JPMorgan Chase in a report stated that due to "cost efficiency, faster speed, and high quality", multinational corporations have turned their attention to Chinese biotechnology companies and assets.
However, China is still in the early stages of innovation in life sciences, and Chinese companies face "difficult paths" on the way to becoming global leaders.
Liu Da said that Western biopharmaceutical multinationals have mainly expanded through mergers and acquisitions, benefiting from globalization over the past few decades. He said that the current geopolitical environment hinders Chinese companies from conducting cross-border M&A activities.
Liu Da said that for Chinese biotechnology companies to become large multinational enterprises in the industry, they need to dominate at least one or two fields, which has become increasingly difficult in the context of intensifying competition. (Translation/ Xu Yanhong)
On June 26, researchers discussed in the China-Uruguay Bio-Nano Pharmaceutical Joint Laboratory in Montevideo, Uruguay. (Xinhua News Agency)
Original article: https://www.toutiao.com/article/7542352751364260362/
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