Med-tech MNCs see healthy market space

A1 We have found the CIIE to be an important platform to showcase our latest medicines and innovations, accelerate industry connections and explore mutually beneficial partnerships.

A great example is our ever-evolving partnership with the Boao Lecheng International Medical Tourism Pilot Zone in Hainan province. We signed an MoU at the CIIE in 2020, and then another in 2021 that deepened our collaboration with Lecheng. So far, we've introduced six drugs to this pilot zone in advance of nationwide approvals. This amplification of opportunities and our partnership is a testimony to how our presence at the CIIE bears fruit.

A2 In just five years, the CIIE has become a premier international trade fair, attracting a wide range of participation from various nations, industry sectors and enterprises. Given economic and public health challenges around the world, I think the CIIE takes on a higher significance — our road to global recovery depends on people and nations coming together. At the same time, I think the expo is an important opportunity to remind the world of the vibrancy of China and Shanghai, and the welcoming embrace of the Chinese people.

A3 You cannot exaggerate the importance of China to the world or the global economy. As China continues on its journey of reform and opening-up, I believe that China's importance on the world stage will continue to evolve. For Novartis, China ranks as our most strategic market globally. China is now our third-largest market and we believe it should become our second-largest market by 2024.

A4 Although China has already become the world's second-largest pharmaceutical market, there still remain significant amounts of unmet medical needs across the country. This is certainly true in many therapeutic areas, including cardiovascular disease, immunology, neuroscience, oncology and ophthalmology, just to name a few.

At the same time, the Chinese government continues to strengthen the ecosystem to support a strong innovative pharmaceutical industry across the value chain, including China's regulatory environment, intellectual property protection as well as medical insurance, which benefits companies such as Novartis.

A5 China's focus on reform and opening-up, as well as attention to inclusive growth in the global economy, is strongly positive for China and the world. At Novartis, we are deeply committed to the Chinese market, and proactive government policies help strengthen our commitment and resolve to the Chinese market. As the policy ecosystem continues to evolve in support of business and innovation here in China, I believe the country will become more attractive to foreign investors such as Novartis.