China's Minister of Commerce Wang Wentao met with global pharmaceutical leaders in Beijing for a high-level dialogue.
The meeting brought together policymakers and senior executives from multinational drugmakers including Novartis, AstraZeneca, Roche, Boehringer Ingelheim and Organon.
"The pharmaceutical industry is vital to human health, we welcome your views and suggestions on development in China,” Wang said while addressing participants at the high-level dialogue.
Drawing growing global attention, China is now one of the world’s fastest-evolving markets and is signaling openness by inviting deeper engagement from multinational companies already investing in the country, according to U.S. pharmaceutical officials.
"For the innovative pharmaceutical sector, China has become one of the world's largest and fastest evolving markets, playing an increasingly global role," said Stephen J. Ubl, president and chief executive officer of the Pharmaceutical Research and Manufacturers of America (PhRMA).
From cutting-edge biotech to large-scale manufacturing, global firms say China’s appeal lies in its unique combination of scale and capabilities.
"Key factors in this evolution include China's large patient population, scientific talent, clinical research capacity, and investments in science and healthcare," said Ubl.
China’s commerce minister meets global pharma leaders
Several airlines have announced reductions in scheduled flights as the ongoing conflict in the Middle East has driven up oil prices, which are posing a challenge to the global aviation industry.
United Airlines CEO Scott Kirby on Friday announced the company will reduce its planned capacity by about 5 percent in the second and third quarters of 2026 to cope with soaring aviation fuel costs caused by high oil prices.
If prices hold at current elevated levels, the company could face an extra 11 billion U.S. dollars in annual fuel expenses.
Air New Zealand has already implemented cuts, announcing it will reduce around 1,100 flights through early May 2026, equivalent to about five percent of its domestic and international scheduled services. The move is expected to impact roughly 44,000 passengers.
Scandinavian Airlines has also confirmed plans to cancel around 1,000 flights in April 2026.
In Vietnam, authorities have warned the local aviation sector to prepare for possible flight cuts in April, due to the increasing risks of aviation fuel supply shortages.
Fuel costs are one of the largest operating expenses for airlines. Recent market data shows benchmark prices jumping from the range of 85-90 U.S. dollars per barrel to 150-200 U.S. dollars per barrel in recent weeks.
To offset pressures, several carriers including Qantas, Air France-KLM and Air India, have implemented fare increases or higher fuel surcharges on various routes.
Airlines reduce scheduled flights to cope with soaring oil prices
