A German delegation of scientists and senior executives from leading biomedical companies recently visited China and was astonished by the growth of China's pharmaceutical sector, expressing their willingness to enter the Chinese market.
The delegation visited the cities of Beijing and Shanghai as well as the province of Hainan from June 27 to July 4 to gain a deeper understanding of the Chinese pharmaceutical market, which has reached surprising heights in just a few decades.
Organized by the China International Investment Promotion Agency in Germany, the tour included visits to major biomedical industry hubs and enterprises, project matchmaking and promotional events as well as meetings with relevant government institutions, with an aim to further strengthen bilateral cooperation and investment in this field.
"The Chinese market is moving so fast. That's something we German people could learn from China. The best case [is] having a really good partner joining us here from China, so we can move fast into the Chinese market," said Klemens Bastian Hofmaier, project manager with medical recruitment company Match.care GmbH.
"What I see at the moment is that everything is brand new, is cutting-edge, is high-tech. We are looking for a strategic investor to enter the Chinese market," said Ron Lehnert, co-founder of optical therapy company Caterna Vision. These hopes are being facilitated by the China International Investment Promotion Agency in Germany.
"I believe we can cover the whole process of entering the Chinese market. So we start from organizing how to actually gather investment. Then it's also about the regulations and then last but not least on how to find real business partners and suppliers and so o," said Andrea Hockerza, public relations specialist for the agency.
According to the Ministry of Industry and Information Technology, as of November 2023, China is home to over 10,000 major pharmaceutical firms, with its research in new drugs ranking second worldwide.
German delegation amazed by China's pharmaceutical sector, willing to enter Chinese market
