2023 China Pharmaceutical Industry Development Conference Opens in Beijing
Today, the 2023 China Pharmaceutical Industry Development Conference opened in Beijing, bringing together industry leaders and experts to discuss the future of the country’s pharmaceutical industry. According to reports from CCTV news, the conference highlighted the significant growth and development of the pharmaceutical industry in China over the past few years.
One of the key highlights was the increase in research and development investment in the pharmaceutical industry, which has seen an average annual growth rate of 23% since 2021. This growth has led to the emergence of innovations in fields such as innovative drugs and high-end medical devices, and has also contributed to the continuous improvement of the pharmaceutical reserve system.
In a statement from the Ministry of Industry and Information Technology, it was revealed that the next steps for the pharmaceutical industry in China will focus on accelerating the research and development of pharmaceutical products, promoting the optimization and upgrading of the entire industry chain, and enhancing the ability to support key products. Additionally, there will be a focus on promoting high-level open cooperation and accelerating the construction of a modern pharmaceutical industry system to improve the level of supply security.
Jin Zhuanglong, Minister of Industry and Information Technology, emphasized the importance of focusing on chemical drugs, traditional Chinese medicines, biological drugs, and medical equipment. He stated that the industry will implement the industrialization project of innovative pharmaceutical products and the technological research project of pharmaceutical industrialization. This will encourage and support enterprises to increase investment in innovation and develop more innovative products to improve the level of industrialization technology.
China is a major pharmaceutical country in the world, with a wide variety of pharmaceutical products and a strong production capacity, ranking among the top in the world. The country can produce more than 23,000 kinds of drugs and medical devices, with the production of bulk APIs accounting for about 40% of the world. Moreover, China ranks second in the world in terms of the number of new drugs under research.
The 2023 China Pharmaceutical Industry Development Conference has set the stage for the acceleration of the modern pharmaceutical industry system in China and the improvement of supply security, paving the way for continued growth and innovation in the country’s pharmaceutical industry.